Lumar is set to exit the Gen Z-focused social commerce platform in an acquisition by Etsy that comes after about $100m in funding.
E-commerce marketplace Etsy agreed yesterday to acquire Depop, the UK-headquartered social commerce platform developer backed by consultancy group Lumar, for over $1.62bn.
Depop operates a mobile platform with 30 million registered users – 90% of whom are under 26 years of age – who can buy and sell second-hand and new fashion items in addition to offering styling services. It generated $70m in revenue in 2020.
The deal comes after roughly $100m in funding for Depop since it was founded…
