Etsy completes sale of Depop to eBay for approximately $1.4 billion

Corporate Action
โดย PR Newswire·Read original
Summary · why it matters

Etsy has completed the sale of its fashion resale marketplace Depop to eBay for approximately $1.4 billion in cash. The purchase price was $1.2 billion plus $200 million of net purchase price adjustments and interest, with net cash proceeds subject to further post-closing adjustments. Etsy plans to use the proceeds for general corporate purposes, including accelerating its share repurchase program as outlined in its April 29th Shareholder Letter. CEO Kruti Patel Goyal said the divestiture allows Etsy to focus exclusively on driving sustainable long-term growth for the Etsy marketplace.

Impact on stocks 2

Consumer Discretionary▲ · 2 stocks
Etsy, Inc.
ETSY
▲ PositiveCapitalrelevance

Etsy sells Depop for $1.4B, proceeds to accelerate share repurchases.

eBay Inc
EBAY
▲ PositiveCapitalrelevance

eBay acquires Depop for $1.4B, expanding its fashion resale business.

Off-coverage companies 1

DepopPrivate± Mixed
Capitalrelevance

Depop is acquired by eBay; impact on its operations not detailed.

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