Etsy sells Depop to eBay to focus on its primary marketplace

Etsy announced on Wednesday that it is selling Depop, a secondhand clothing marketplace, to eBay for $1.2 billion in cash. The transaction is intended to allow Etsy to focus on its primary marketplace. Founded in 2011, Depop serves a demographic popular with Gen Z and millennials. The sale occurs nearly five years after Etsy acquired […]