Etsy says it is buying the London-based fashion resale app Depop, popular with Gen Z, for $1.6B in an all-cash deal
The acquisition is the latest to underscore the skyrocketing popularity of secondhand fashion platforms amid the pandemic. — Depop, the fashion resale marketplace beloved …
New York Times Elizabeth Paton
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Discussion
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@annacafolla
Anna Cafolla
on x
The live laugh love moms and harry potter memorabilia merchants will always have the last laugh https://www.nytimes.com/...
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@jpwiseuk
James Wise
on x
Thrilled to share that @depop will be joining @etsy in a deal worth $1.625B, one of the largest of its kind. We backed Depop from seed to exit & it's been a pleasure to work with @MRaga_Depop and her team, what they've built is exceptional...a short 🧵 https://www.ft.com/...
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@lizziepaton
Elizabeth Paton
on x
Why this deal is interesting: Depop is wildly popular w/ younger fashion consumers who are adopting second hand fashion faster than any other audience. 90 percent of its 30m users are under 26. Etsy caters to an older demographic and its clothing business was ~$1 billion in 2020.
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@nytimesbusiness
@nytimesbusiness
on x
Depop, the fashion resale marketplace beloved by Generation Z, is to be acquired by Etsy for $1.6 billion, the two companies announced on Wednesday. https://www.nytimes.com/...