Etsy finds a match in Brazil

Etsy finds a match in Brazil

M&A Brazil United States

US online marketplace Etsy said it has agreed to buy Brazilian e-commerce company Elo7 for $217 million to establish a presence in Latin America. "This transaction will establish a foothold for us in Latin America, an underpenetrated e-commerce region where Etsy currently does not have a meaningful customer base," Etsy CEO Josh Silverman said in a press release on Monday. Elo7's current run rate for gross merchandise sales (GMS) and revenue is not expected to have much of an effect on Etsy's top

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