Management is divestiture-focused, selling Depop to eBay for $1.2 billion to concentrate resources exclusively on the core Etsy marketplace and its higher return on invested capital. A deep diagnostic revealed that while Etsy's value proposition remains resonant, the platform failed to translate scale into a clear advantage, leading to softened perceptions of differentiation. Performance attribution for the Q4 return to growth is credited to a reorganization around customer outcomes rather than functi ...