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Etsy on Wednesday said it was selling the online secondhand-clothing site Depop to eBay for around $1.2 billion, in an effort to focus more deeply on its main marketplace business.
The cash deal, set to close in the second quarter, comes as Etsy ETSY and other businesses still unwind from the boom in digital demand brought by the pandemic. Etsy, whose marketplace allows small businesses to sell things like arts, crafts and home goods, bought Depop in 2021, albeit for a higher price, at $1.6 billion.
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