Etsy to buy Depop, a used clothing app popular with Gen Z

NEW YORK (AP) — Etsy said Wednesday that it will buy Depop, an app that’s popular among young people looking to buy and sell used clothing and vintage fashions from the early 2000s. New York-based Etsy said it will pay $1.6 billion for Depop and plans to run it as a stand-alone company in London, where it is currently based. The deal gives Etsy, best known for selling handmade soaps and jewelry, a bigger chunk of the vintage clothing market and access to millions of Gen Z shoppers. About 90% of Depop’s users are under the age of 26.