eBay buys Depop for $1.2bn

eBay is buying second-hand fashion app Depop for $1.2bn, five years after Etsy purchased the UK-founded business for $1.62bn.

eBay has agreed to buy Depop, a second-hand clothing app, for $1.2bn. Depop was founded in the UK and was acquired by Etsy in 2021 for $1.62bn; Etsy is selling it five years later. The app reports about seven million active buyers and more than three million active sellers, with nearly 90% of buyers under 34 according to Etsy. eBay said the purchase is intended to help it reach younger shoppers across the re-commerce market. Key facts: - eBay will buy Depop for $1.2bn. - Etsy bought Depop in 2021 for $1.62bn and is now selling it. - Depop has about seven million active buyers and over three million active sellers. - Etsy reported nearly 90% of Depop buyers are under age 34. - Etsy's chief executive described Depop as one of the fastest-growing fashion resale marketplaces in the US and said it is well-positioned for its next phase of growth as part of eBay. - Etsy's share price rose about 15% in after-hours trading following the announcement. Summary: The sale moves Depop from Etsy to eBay and may extend eBay’s reach among younger shoppers. Specific details about integration, timing, or any regulatory review were not provided. Undetermined at this time.