Etsy announced yesterday that it is acquiring resale marketplace, Depop, for $1.6 million. We look at why they made this acquisition and what it might mean for sellers.
Depop is a new mobile marketplace with 21 million users, 90% of whom are 26 years old or younger. Crafters are finding success selling handmade goods on Depop, a competitor with Etsy.
Some crafters have begun creating video content for TikTok, the social media app that’s with 1 billion active users (mostly teenagers). Content creators are recording DIY painting, sewing, and drawing tutorials and they’re finding significant audiences on this new social platform.