eBay completed its purchase of Depop from Etsy on July 30, paying roughly $1.4B in cash. That covers the $1.2B purchase price plus $200M in net adjustments and interest, with further post-closing adjustments still to come. Depop will run as a separate business with its brand, platform, culture, and customer experience left in place, while eBay looks for synergies across shipping, compliance, personalization, and trusted services. Etsy paid $1.625B for Depop and is directing the proceeds toward an accelerated share buyback, so it sold the marketplace for less than it paid. Fashion already generates more than $10B in annual GMV for eBay. Both companies report second-quarter results Wednesday, with eBay taking analyst questions that afternoon and Etsy waiting until Thursday morning.
