Depop is changing owners five years after Etsy bought it for roughly $1.62 billion, CNBC reported.
EBay announced it would purchase the secondhand clothing reseller for $1.2 billion in cash.
Depop, a U.K.-founded app, has a younger base of customers, with about 90% of users under the age of 34.
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Etsy said the deal would allow it to focus on its main marketplace business.
