Etsy Shares Surge 17% as eBay Acquires Depop for $1.2 Billion
Etsy has agreed to sell its secondhand fashion marketplace Depop to eBay for $1.2 billion in cash, marking a strategic retreat from the Gen Z-focused platform. The deal, which comes five years after Etsy's $1.62 billion acquisition of Depop, was cheered by investors as a move to streamline operations and focus on its core handmade marketplace.