Why Etsy thinks fashion resale site Depop is worth $1.6 billion ...Middle East

Quartz - Economy
Why Etsy thinks fashion resale site Depop is worth $1.6 billion
source : Quartz ( Middle East ) () 5
Etsy has announced it will buy Depop, a UK-based fashion resale marketplace, for $1.63 billion in a primarily cash deal. It’s Etsy’s second acquisition of a resale platform and much bigger than the last one—its $275 million purchase of Reverb, a marketplace for new and used music gear, in 2019.The company sees Depop as a way to bolster its business in clothing resale and with Gen Z, the generation generally regarded as being born between 1997 and 2012. It also expects to use its expertise in peer-to-peer marketplaces to help Depop grow, Etsy’s management explained on a call with investors and analysts today, and believes it can learn from Depop in return.The fashion resale market exploded ov

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