American ecommerce website Etsy is shopping for London-based trend resale app Depop for a formidable $1.63 billion, The New York Times reported, which implies that the classic, handcrafted, and secondhand trend markets expect a significant growth within the coming years.
Etsy was based in Brooklyn in 2005 and has since established itself because the go-to on-line buying vacation spot for classic and handmade items in addition to arts and crafts provides. In 2015, Etsy went public on the inventory market and joined the NASDAQ Composite index, which incorporates corporations like Apple, Tesla, Amazon, and Fb. Etsy’s acquisition of Gen Z trend app Depop is a bid to attach with youthful clients who share Etsy’s curiosity in classic and secondhand trend from impartial retailers, sellers, and types. In case you’re new to the inventory market and love utilizing Depop, then Etsy’s acquisition might be an awesome alternative to put money into shares which are personally priceless to you forward of the buying app going public.
Picture Supply: Depop