Etsy Mergers and Acquisitions Presentation Deck
Overview of Transaction: Etsy to Acquire depop
Acquisition of 100% of Depop's share capital in exchange for $1.625 billion
consisting primarily of cash, subject to certain adjustments for Depop's working
capital, transaction expenses, cash and indebtedness, and certain deferred and
unvested equity for Depop management and employees.
Terms
Structure / Leadership
Timing to close
Funding
Depop will operate as a standalone marketplace run by its existing leadership team
Currently expected to close in the third quarter of 2021, subject to satisfaction of
customary closing conditions, including antitrust review in the United States and the
United Kingdom
Etsy has sufficient liquidity to fund the acquisition*
*As of March 31, 2021 Etsy had approximately $2.0 billion in total liquidity consisting of $1.8B in cash, cash equivalents and short and long term investments on its balance sheet and
an undrawn $200 million revolving credit facility
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