Big Law
Etsy Acquires the Shopping App Depop for $1.6 Billion
Etsy, an e-commerce site famous for selling handmade and vintage items, Acquire cooler and younger rivals, Used shopping app Depop from the UK.
The $ 1.6 billion acquisition will give Etsy access to Depop’s young and growing user base. According to Etsy, over 90% of Depop’s users are under the age of 26, most of them belong to Gen Z, Etsy’s own users are definitely millennials, and the median age of sellers is around 39. For Gen Z consumers in the United States.
Etsy CEO Josh Silverman said at a press conference: “Depop is a vibrant double-sided market, with a passionate community, offering highly differentiated and unique items, and we believe in great potential for further expansion.”
