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Etsy
shares skyrocketed more than 14% in extended trading 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. About 90% of Depop’s users are under the age of 34, Etsy said.
