Ebay buys Depop for $1.2bn in effort to lure younger shoppers

Ebay is acquiring secondhand fashion app Depop from Etsy for $1.2 billion in cash. The deal aims to attract younger, fashion-conscious consumers to Ebay, expanding its presence in the growing resale market. Depop, based in London, will maintain its brand and platform while complementing Ebay's existing offerings. The acquisition comes as secondhand marketplaces gain popularity, particularly among Gen Z shoppers. While Depop experienced substantial growth, especially in the US, the sale represents a $400 million loss for Etsy, which purchased Depop for $1.6 billion in 2021. Etsy will now focus on growing its core marketplace.

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