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Etsy to buy Gen-Z focused fashion marketplace Depop for US$1.63 billion

Etsy to buy Gen-Z focused fashion marketplace Depop for US$1.63 billion

FILE PHOTO: A sign advertising the online seller Etsy Inc. is seen outside the Nasdaq market site in Times Square following Etsy's initial public offering (IPO) on the Nasdaq in New York April 16, 2015. REUTERS/Mike Segar/File Photo

REUTERS: Etsy Inc said on Wednesday it would acquire Depop, a privately-held fashion marketplace, for US$1.63 billion, as the online seller looks to attract Gen-Z consumers.

The deal is expected to close during the third quarter of 2021.

(Reporting by Nivedita Balu in Bengaluru; Editing by Vinay Dwivedi)

Source: Reuters

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