eBay Acquires Depop From Etsy for $1.2B to Target Gen Z Buyers

eBay reached a definitive agreement to acquire the secondhand fashion marketplace Depop from Etsy for $1.2 billion in cash.The transaction follows Etsy's 2021 purchase of the platform for $1.6 billion and is expected to conclude by the middle of 2026.Chief Executive Officer Jamie Iannone noted that the acquisition targets younger consumers as nearly 90 percent of Depop's active buyers are under age 34.Etsy shares surged 14 percent after Kruti Patel Goyal announced the sale proceeds will be used for share repurchases and core investments.