Etsy To Acquire Brazilian Crafts Marketplace Elo7

US crafts marketplace Etsy announced today (28) that it has signed a definitive agreement to acquire its Brazilian equivalent Elo7 as part of an international expansion plan.

Purchased for $217 million, Elo7 is one largest e-commerce sites in Brazil, with more than 56.000 sellers, 1.9 million users and more than 8 million items for sale including handmade and custom-made goods as well as craft supplies. Subject to regulatory approvals, the deal should be concluded in the next quarter.
By Angelica Mari via Forbes

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