{"id":549541,"date":"2021-06-02T13:36:48","date_gmt":"2021-06-02T17:36:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=549541"},"modified":"2021-06-02T13:36:50","modified_gmt":"2021-06-02T17:36:50","slug":"etsy-buying-depop-for-1-6-billion-the-resale-home-for-gen-z","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/etsy-buying-depop-for-1-6-billion-the-resale-home-for-gen-z\/","title":{"rendered":"Etsy Buying Depop For $1.6 Billion, \u2018The Resale Home For Gen-Z\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fetsy-buying-depop-for-1-6-billion-the-resale-home-for-gen-z%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=549541&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1233233803-1200x800-1.jpg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>According to reports, the American e-commerce company Etsy is buying Depop, a British second-hand fashion app popular among younger users, with Etsy CEO Josh Silverman describing Depop as \u201cthe resale home for Gen-Z consumers.\u201d<\/span><\/p>\n<p><span>\u201cDepop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale,\u201d Silverman added.<\/span><\/p>\n<p><span>The two companies announced on Wednesday that Etsy will be purchasing Depop for $1.6 billion.<\/span><\/p>\n<p><span>\u201cThe cash deal, which is expected to close by the third quarter of this year, underscores the growing influence of clothing resale platforms,\u201d noted <\/span><a href=\"https:\/\/www.nytimes.com\/2021\/06\/02\/business\/etsy-depop.html\"><span>The New York Times<\/span><\/a><span>. \u201cMore shoppers are turning to the secondhand market for something cheaper and \u2014 potentially \u2014 greener as the overproduction of clothing increasingly adds to landfills.\u201d The Times also pointed out that this trend seems to have been \u201caccelerated by the pandemic.\u201d<\/span><\/p>\n<p><span>Depop allows users to buy and sell second-hand clothes, while permitting users to negotiate on prices and postage. According to the <a href=\"https:\/\/www.bbc.com\/news\/business-57259413\">BBC<\/a>, Depop has 30 million registered users across 150 countries, while about 90% of the app\u2019s users are 25-years-old or under. According to Depop, it is also the 10th most visited shopping site in this age group.<\/span><\/p>\n<p><span>\u201cThis [Gen-Z] is an enormous demographic and it\u2019s the trendsetter demographic,\u201d Silverman said, according to <\/span><a href=\"https:\/\/www.reuters.com\/business\/etsy-buy-gen-z-focused-fashion-marketplace-depop-163-billion-2021-06-02\/\"><span>Reuters<\/span><\/a><span>.<\/span><\/p>\n<p><span>Depop\u2019s CEO, Maria Raga, described the app\u2019s \u201cincredible journey.\u201d<\/span><\/p>\n<p><span>\u201cWe\u2019re on an incredible journey building Depop into a place where the next generation comes to explore unique fashion and be part of a community that\u2019s changing the way we shop,\u201d Raga said. \u201cThey come to Depop for the clothes, but stay for the culture.\u201d<\/span><\/p>\n<p><span>\u201cWe are simply thrilled to be adding Depop \u2014 what we believe to be the resale home for Gen Z consumers \u2014 to the Etsy family,\u201d Silverman said in a company <\/span><a href=\"https:\/\/investors.etsy.com\/press-releases\/press-release-details\/2021\/Etsy-to-acquire-global-fashion-resale-marketplace-Depop\/default.aspx\"><span>statement<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p><span>\u201cDepop\u2019s world-class management team and employees have done a fantastic job nurturing this community and driving organic, authentic growth in a way that aligns well with Etsy\u2019s DNA and mission of Keeping Commerce Human. We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous \u2018house of brands\u2019 portfolio of individually distinct, and very special, ecommerce brands,\u201d he added later.<\/span><\/p>\n<p><span>According to Etsy\u2019s CFO, Rachel Glaser, the company had \u201cadmired\u201d Depop for some time.<\/span><\/p>\n<p><span>\u201c<\/span><span>We\u2019ve admired Depop for a while, and are excited to have now reached an agreement to purchase this fantastic business \u2013 a company we believe is still in the early innings of its growth opportunity,\u201d said Glaser. \u201cWe love Depop\u2019s rapidly growing GMS and loyal and engaged customer base, excellent user engagement and unit economics, opportunities to expand value added seller services, clear path for geographic expansion, and highly scalable, \u2018capital light\u2019 operating model. We\u2019re excited to build a \u2018house of brands\u2019 where the whole is greater than the sum of its parts.\u201d<\/span><\/p>\n<p><span>The news caused Etsy stock to rise by over 6 percent to a high of $174.70 as of Wednesday afternoon.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/span><\/i> <a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to reports, the American e-commerce company Etsy is buying Depop, a British second-hand fashion app popular among younger users, with Etsy CEO Josh Silverman describing Depop as \u201cthe resale &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2278924,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1233233803-1200x800-1.jpg","fifu_image_alt":"Etsy Buying Depop For $1.6 Billion, \u2018The Resale Home For Gen-Z\u2019","footnotes":""},"categories":[],"tags":[],"class_list":["post-549541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1233233803-1200x800-1.jpg","fifu_image_alt":"Etsy Buying Depop For $1.6 Billion, \u2018The Resale Home For Gen-Z\u2019","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/549541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=549541"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/549541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2278924"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=549541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=549541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=549541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}