Depop (Etsy Write-Down)
Italian-founded fashion-marketplace Depop was acquired by Etsy for $1.6B in 2021, then written down by 50%+ within two years as Etsy struggled to integrate it.
2011 → 2023
$1.6B
Marketplace/Fashion
Italy
Full Analysis
Italian-founded (by Simon Beckerman) Depop was the Gen-Z fashion-resale app acquired by Etsy for $1.625B in cash in 2021 — one of the largest-ever exits for an Italian-founded startup. Within two years Etsy took a $1B+ impairment charge against the acquisition, effectively writing the value down by 50-70%. While Depop continues to operate, the acquisition has been widely cited as a value-destructive deal — and stands as one of the largest acqui-failures associated with an Italian-founded company.
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