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Etsy's Land Grab Strategy Continues

TheMotleyFool

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Shares of Etsy (NASDAQ: ETSY) popped Monday, rising 7.4% after the artisan-based online marketplace announced yet another acquisition.

Etsy will take over Elo7, which it calls the Etsy of Brazil, for $217 million. The deal follows its acquisition of Depop, an online apparel resale marketplace targeted at Gen Z. The news further establishes Etsy as an operator of two-sided e-commerce marketplaces, rather than just its namesake brand. Elo7 will become the fourth component of its "house of brands" and gives the company a foothold in Latin America, a market that makes up just a small percentage of its sales today. Elo7 is currently the No. 6 e-commerce website in Brazil.

Image source: Getty Images.

Source Fool.com

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