Business
Depop sale: Etsy spends $US1.6b to buy vintage clothing app – The Australian Financial Review
The second-hand fashion app has become one of the most popular e-commerce sites, particularly among younger, environmentally conscious consumers.
Etsy, the online marketplace for crafts and vintage items, is buying second-hand fashion app Depop for $US1.63 billion ($2.1 billion) as it seeks to expand its customer base and attract younger users.
The deal will create significant opportunities for shared expertise and growth synergies between the two e-commerce sites as the trend for trading recycled clothing continues to grow, New York-based Etsy said in a statement on Wednesday. The deal, which is primarily cash, is expected to close in the…
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