Another example of an incredible European exit. Great to see that the #GenZ population (90 per cent of @Depop’s users are under the age of 26) is being inspired by sustainability over consumerism. More than just a fashion re-sale marketplace @Depop is described by its’ founders as a culture, motivating a new generation of #entrepreneurs. With a price tag of $1.6b (approx £1.14b), there’s nothing off-the-peg about @Etsy’s latest purchase, the largest venture-backed #acquisition of a private #tech company in the UK since 2019 #uktech.news
What Etsy is buying is not merely a source of GMS and net losses. It’s buying access to Gen Z.