Etsy completes sale of Depop to eBay for ~$1.4B in cash

ETSY INC

Aggregate cash consideration of ~$1.4B: $1.2B base price plus $200M net adjustments and interest.
Net proceeds subject to post-closing adjustments; Etsy plans to accelerate share repurchases.
Pro forma gain on sale of $805M recorded to accumulated deficit; Depop classified as discontinued operation.
Etsy will focus exclusively on its core marketplace; CEO Kruti Patel Goyal highlighted strong shareholder outcome.

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