Etsy Is Buying Depop
19 days ago - By Fashionista
Etsy announced its plans to acquire the secondhand fashion marketplace Depop for $1.6 billion, in a deal that's expected to close in the third quarter of 2021, the New York Times reports. "Depop's world-class management team and employees have done a fantastic job nurturing this community and...
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Etsy buys second-hand clothing app Depop to tap into gen Z
20 days ago - By The Guardian
US-based online sales app pays £1bn for marketplace with 30m users, 90% of whom are under 26 Etsy is buying Depop, the British second-hand fashion resale app, for $1.6bn to tap into the fast-growing trend of generation Z young people reselling clothes online. Josh Silverman, the chief executive of Brooklyn-based Etsy, said: “We are simply thrilled to be adding Depop - what we believe to be the resale home for gen Z consumers - to the Etsy family.”
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