Etsy Dives Into Fashion With $1.6 Billion Acquisition of Depop
E-commerce company Etsy (NASDAQ: ETSY) is acquiring London-based Depop in a $1.6 billion deal. Etsy is a marketplace for buying and selling handcrafted products. But with this acquisition announcement on Wednesday morning, the company is broadening its horizons into the apparel resale market with Depop's platform.
According the official press release from Etsy, Depop will remain a stand-alone platform and will keep its headquarters in London.
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Source Fool.com
