Freshfields has landed another major U.S. M&A mandate advising eBay on its $1.2 billion acquisition of second-hand fashion tech company Depop from Etsy. The Freshfields team advising eBay is being led by New York-based partners Ethan Klingsberg and Zheng Zhou, and includes partners from multiple offices, including Silicon Valley, London, and Washington D.C. Meanwhile, U.S. tech law firm Fenwick & West is advising Etsy and Depop, with a team led by corporate partners Ken Myers and Bomi Lee, who are based in New York and San Francisco respectively. The transaction is expected to close in the second quarter of 2026, and eBay said it intends to fund the transaction with cash on hand. An eBay spokesperson added that Depop is expected to retain its name, brand, platform, and complementary culture. Peter Semple, Depop’s CEO, commented: “We're thrilled to begin this next chapter with eBay, whose experience in the C2C fashion space and shared belief in people, opportunity, and a more sustainable future positions us to meaningfully accelerate our marketplace in the U.S. and beyond.” Etsy acquired Depop in 2021 for $1.6 billion, with Weil Gotshal & Manges and A&O Shearman advising on the transaction at the time.