UK competition watchdog launches probe into eBay’s purchase of Depop

The UK competition regulator on Monday launched a probe into eBay’s $1.2 billion purchase of ‌Gen ⁠Z-focused fashion ⁠resale platform Depop from Etsy.

The deal was ​announced earlier this year and is expected ​to help ⁠Etsy double ‌down ​on ​its core handmade ⁠and vintage goods marketplace in ​pursuit of a ​turnaround.

The firm has been grappling with softer demand and strong ‌competition from online e-commerce platforms such ​as ​Amazon.