Etsy is selling Depop to eBay at a markdown, in latest move to focus on basics. Both stocks are rallying.

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Etsy on Wednesday said it was selling the online secondhand-clothing site Depop to eBay for around $1.2 billion, in an effort to focus more deeply on its main marketplace business.

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Etsy is selling Depop to eBay at a markdown, in latest move to focus on basics. Both stocks are rallying.

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