The Etsy Inc. headquarters in the Brooklyn borough of New York on June 25, 2024.
Victor J. Blue | Bloomberg | Getty Images
Etsy shares skyrocketed more than 17% on Wednesday after the company announced eBay would acquire its secondhand clothing reseller Depop for about $1.2 billion in cash.
The deal comes almost five years after Etsy bought Depop for roughly $1.62 billion, giving the online marketplace an edge into younger consumers who flocked to the U.K.-founded app to hawk their used clothing, shoes, accessories and other goods.
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