Business
eBay Buys Depop for $1.2 Billion, Gaining Gen Z Secondhand Fashion Focus
EBay will acquire the secondhand fashion platform Depop from Etsy ETSY 9.28%increase; green up pointing triangle for approximately $1.2 billion, adding an app popular with younger consumers to the online auction site’s core marketplace business.
Jamie Iannone, chief executive officer of eBay EBAY 3.13%increase; green up pointing triangle, said Wednesday that the addition of Depop to its portfolio would boost its footprint while also expanding its presence in the fashion market.
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