Etsy sells second-hand fashion app Depop to eBay for $1.2bn

Etsy has sold Depop, its second-hand fashion app popular among Gen Z, to eBay for $1.2bn. The sale comes five years after Etsy acquired Depop for $1.6bn, aiming to tap into the growing re-commerce market. eBay expects the acquisition to help it reach a younger demographic and boost its used clothing sales, which are among its fastest-growing categories.