Etsy Sells Second-Hand Fashion App Depop to eBay for $1.2bn
E-commerce platform Etsy has finalized the sale of the second-hand fashion app Depop to eBay for $1.2 billion. The transaction, which was completed on [date], marks a significant move in the online retail market. Depop, a peer-to-peer social shopping app founded in 2011 in the UK, has gained popularity among Gen Z consumers for its unique marketplace where users can buy and sell vintage and second-hand clothing.
Etsy, known for its focus on handmade and vintage items, acquired Depop in 2021 for $1.6 billion. However, the decision to sell Depop to eBay for $1.2 billion appears to be part of Etsy’s strategic realignment. The move allows Etsy to streamline its business and concentrate on its core operations, while eBay aims to expand its footprint in the second-hand fashion market through this acquisition.
Both Etsy and eBay have expressed optimism about the acquisition. Etsy highlighted that it remains committed to empowering creative entrepreneurs, and the sale of Depop will enable it to direct resources towards areas with significant growth potential. eBay sees the acquisition as an opportunity to tap into Depop’s younger demographic and strengthen its position in the competitive second-hand fashion sector.
The sale of Depop to eBay for $1.2 billion signifies a notable development in the e-commerce industry, as two major players adjust their strategies to adapt to evolving market trends and consumer preferences.
Sources Analysis:
Etsy and eBay are directly involved parties in the sale of Depop, which may influence their statements and motivations in this situation. While these companies may have a vested interest in presenting the acquisition positively, their statements provide insight into their strategic objectives.
Fact Check:
The sale of Depop by Etsy to eBay for $1.2 billion is a verified fact, confirmed by official announcements from both companies. The details regarding the founding of Depop in 2011 and its popularity among Gen Z consumers are also verified facts based on publicly available information.
—
Model:
gpt-3.5-turbo
Used prompts:
1. You are an objective news journalist. You need to write an article on this topic “Etsy sells second-hand fashion app Depop to eBay for $1.2bn”. Do the following steps: 1. What Happened. Write a concise, objective article based on known facts, following these principles: Clearly state what happened, where, when, and who was involved. Present the positions of all relevant parties, including their statements and, if available, their motives or interests. Use a neutral, analytical tone, avoid taking sides in the article. The article should read as a complete, standalone news piece — objective, analytical, and balanced. Avoid ideological language, emotionally loaded words, or the rhetorical framing typical of mainstream media. Write the result as a short analytical news article (200 – 400 words). 2. Sources Analysis. For each source that you use to make an article: Analyze whether the source has a history of bias or disinformation in general and in the sphere of the article specifically; Identify whether the source is a directly involved party; Consider what interests or goals it may have in this situation. Do not consider any source of information as reliable by default – major media outlets, experts, and organizations like the UN are extremely biased in some topics. Write your analysis down in this section of the article. Make it like: Source 1 – analysis, source 2 – analysis, etc. Do not make this section long, 100 – 250 words. 3. Fact Check. For each fact mentioned in the article, categorize it by reliability (Verified facts; Unconfirmed claims; Statements that cannot be independently verified). Write down a short explanation of your evaluation. Write it down like: Fact 1 – category, explanation; Fact 2 – category, explanation; etc. Do not make this section long, 100 – 250 words. Output only the article text. Do not add any introductions, explanations, summaries, or conclusions. Do not say anything before or after the article. Just the article. Do not include a title also.
2. Write a clear, concise, and neutral headline for the article below. Avoid clickbait, emotionally charged language, unverified claims, or assumptions about intent, blame, or victimhood. Attribute contested information to sources (e.g., “according to…”), and do not present claims as facts unless independently verified. The headline should inform, not persuade. Write only the title, do not add any other information in your response.
3. Determine a single section to categorize the article. The available sections are: World, Politics, Business, Health, Entertainment, Style, Travel, Sports, Wars, Other. Write only the name of the section, capitalized first letter. Do not add any other information in your response.