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Etsy acquiring fashion reseller Depop for $1.6 billion
Etsy, the popular platform for selling handmade goods, announced that it will acquire Depop, a fashion resale marketplace, for $1.625 billion.
Founded in 2011, Depop markets itself as a place to buy and sell unique fashion, with a strong following among Gen Z consumers. The company’s 2020 gross merchandise sales and revenue were approximately $650 million and $70 million,
Following the close of the deal, Etsy says Depop will continue to be headquartered in London and operate as a standalone marketplace run by its existing leadership team. Previously, Depop raised just over $105 million in known funding, per Crunchbase data.
— Joanna Glasner
Funding rounds
Lansweeper raises $158M: Lansweeper, a Belgian company that provides software for tracking IT assets, reportedly raised $158 million in a funding round backed by Insight Partners. Founded in 2004, the company has not previously closed a venture funding round, per Crunchbase data.
Tech news
Report says Katerra to shut down: Heavily funded construction technology startup Katerra is on the verge of shutting down, according to a report from The Information. Founded in 2015, Katerra raised at least $1.6 billion in known funding, per Crunchbase data, and counted SoftBank as its largest backer.
— Joanna Glasner
Illustration: Dom Guzman
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://news.crunchbase.com/news/briefing-6-2-21/
