<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The e-commerce behemoth eBay will pay $US1.2 billion ($1.7 billion) in cash to buy popular fashion marketplace Depop in a strategic move to gain its Gen Z and Millennial customer base.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The two companies today announced they had entered into an agreement in which eBay will acquire Depop from its parent company Etsy by June, pending certain conditions and approvals.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Depop's name, brand, platform and culture will remain the same but it will absorb some of eBay's features, like shipping options and an authenticity guarantee.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/canberra-dissent-bar-and-cafe-investigated-for-hate-crime-breaches-over-parody-art-posters/35d7d377-46e4-4f71-a842-27ed6c96c05e" rel="" target="_blank" title=""><strong><span>Aussie bar being investigated under new hate laws over 'parody' posters</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Depop is a second-hand fashion marketplace that has 7 million active buyers, 90 per cent of whom are under the age of 34, and made $US1.4 billion last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Meanwhile, eBay boasts more of the online market share with 135 million active buyers worldwide, with 61 per cent of their users being between 35 and 64.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The platform hopes buying Depop will help it reach a younger and more fashion-forward audience.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/world/ebay-to-buy-depop-in-17b-move-to-reach-gen-z-and-millennials/62764e7d-57c3-4c72-884f-d06a564a1a97" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and we are confident that as part of eBay, Depop will be even more well-positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities," eBay chief executive Jamie Iannone said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/shark-attacks-kill-five-people-off-australia-in-2025/30f15745-3975-495e-be72-666280b64973" rel="" target="_blank" title=""><strong><span>Australia heads world table for fatal shark attacks</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We're excited to welcome the Depop team to eBay, and look forward to building on what makes them unique, their brand, culture and community, to deliver compelling benefits to buyers and sellers."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Etsy is now looking to focus solely on its own online marketplace and will use the cash to invest in itself and repurchase shares.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are excited that this transaction allows us to focus exclusively on the compelling opportunity we see in front of us: to grow the Etsy marketplace in ways that matter most to our buyers and sellers," Etsy chief executive Kruti Patel Goyal said.</span></div></div><div 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