eBay to acquire Depop from Etsy for $1.2bn.

eBay, a global commerce company, agreed to acquire Depop, a service developer of a mobile social shopping application, from Etsy, an online retail marketplace, for $1.2bn. “This acquisition presents an opportunity to advance one of our newest and fastest-growing Focus Categories with a marketplace that complements our existing presence, and enables us to reach a younger demographic across the expanding recommerce landscape. We’re excited to welcome the Depop team to eBay, and look forward to building on what makes them unique – their brand, culture and community – to deliver compelling benefits to buyers and sellers,” Jamie Ianonne, eBay CEO.