EBay shares surge after upbeat revenue forecast and Depop acquisition
EBay shares rose today after the firm forecast strong revenue and bought Depop for 1.2 billion dollars. The deal aims to attract younger fashion consumers.
Insights:
eBay Inc. announced on Wednesday that it will acquire the fashion marketplace Depop from Etsy, Inc. for nearly $1.2 billion. The announcement coincided with the company issuing a first-quarter revenue forecast that exceeded Wall Street estimates, a combination that sent eBay shares up approximately 7% in extended trading. This major acquisition by the US 
US e-commerce firm signals a significant strategic push into the high-growth recommerce and specialty categories.
US e-commerce firm signals a significant strategic push into the high-growth recommerce and specialty categories.
