Etsy, Inc. has finalized the sale of the fashion resale marketplace Depop to eBay Inc. for approximately $1.4 billion in cash. The total transaction amount reflects a $1.2 billion purchase price plus $200 million in net purchase price adjustments and interest.
The sale was completed following the satisfaction of all closing conditions, which included receiving the necessary regulatory approvals. Following the divestiture, Etsy intends to use the cash proceeds for general corporate purposes in alignment with the capital allocation strategy detailed in its April 29 shareholder letter. This strategy includes plans to accelerate the company’s share repurchase program.
The transaction is intended to allow Etsy to maintain an exclusive focus on driving sustainable long-term growth for the Etsy marketplace. The company serves as a global destination for unique and creative goods, connecting millions of creative entrepreneurs with buyers around the world.
Etsy, which was founded in 2005 and is headquartered in Brooklyn, operates a platform designed to support human connection in commerce by helping sellers turn creative ideas into successful businesses.
