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(RTTNews) - eBay Inc. (EBAY) has agreed to buy fashion resale marketplace Depop from Etsy Inc. (ETSY) for about $1.2 billion in cash.

Depop, a consumer-to-consumer fashion platform focused on Gen Z and millennial users, generated about $1 billion in gross merchandise sales in 2025. The marketplace had roughly 7 million active buyers and more than 3 million active sellers as of the end of 2025.

eBay said the acquisition will strengthen its consumer-to-consumer strategy, expand its presence in recommerce and help it reach younger shoppers. Fashion is one of eBay's fastest-growing categories, generating more than $10 billion in annual gross merchandise volume.

Etsy said it will use proceeds from the transaction for general corporate purposes, share repurchases and investment in its core marketplace.

The deal, approved by both companies' boards, is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions.

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