Etsy agrees to sell Elo7 to Enjoei S.A.; expects Q3 2023 close

ETSY INC

Etsy entered a quota purchase agreement to sell Elo7, its Brazil-based marketplace, to Enjoei S.A.
Transaction expected to close in Q3 2023; post-close House of Brands includes Etsy, Reverb, and Depop.
CEO Josh Silverman cited macroeconomic headwinds and Elo7's underperformance since 2021 acquisition.
Further details to be provided on Etsy's Q2 2023 earnings call.

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