Fenwick represented Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, in its $217 million definitive agreement to acquire Elo7, a privately held marketplace for unique, handmade items that is ranked as a top 10 ecommerce site in Brazil.
The transaction is expected to close during the third quarter of 2021. Following the close of the acquisition of Elo7 and the recently announced transaction with Depop, Etsy will operate four ecommerce brands: Etsy, Reverb, Depop and Elo7. These businesses all share similar levers of growth to unlock value, including improving search and discovery, building human connections, and making selling and buying easier. More information can be obtained from the company’s announcement.
The Fenwick transaction team included corporate partners Ken Myers, Lynda Twomey and Bomi Lee, and associates Sawyer Li, Tarra Theisen and Christina Kwak.