What happened: Etsy has sold Depop, a second-hand fashion app it acquired five years ago, to eBay for $1.2 billion. The deal marks a shift in ownership for the popular 'pre-loved' fashion platform.
Why it matters:
- The sale highlights growing interest in the resale and sustainable fashion market.
- Users and sellers on Depop may experience changes under new ownership by eBay.
MNN Take: This transaction reflects the evolving landscape of online fashion resale, with major companies investing to capture this expanding market segment.
Sources: BBC Business