Etsy, an American retailer of handmade goods, vintage items, and crafted goods, completed the acquisition of Depop, a provider of mobile e-commerce services, from Octopus, a company providing various business services, for $1.63bn. "We believe Depop to be the resale home for Gen Z consumers with a unique offering and highly-engaged user base. With the closing of this incredibly exciting transaction, Etsy's 'house of brands' portfolio now includes four individually distinct, and very special, ecommerce brands – Etsy, Depop, Reverb and Elo7 – with parallel growth strategies, all sharing similar missions, visions, and values. We are excited to welcome the entire Depop community into the Etsy family and look forward to applying Etsy's value creation roadmap to help them further drive growth," Josh Silverman, Etsy CEO.