Elo7 $217M Acquisition by Etsy

June 28, 2021Client News

Gunderson Dettmer represented client Elo7, a marketplace for unique, handmade items, in its $217 million acquisition by Etsy. Following the deal, Elo7 will remain headquartered in Sāo Paulo, Brazil and operate as a standalone marketplace run by its existing leadership team.

In the announcement of the transaction CEO of Etsy, Inc. Josh Silverman said, "Elo7 is the 'Etsy of Brazil,' with a purpose and business model similar to our own. Following our recent agreement to purchase Depop, we're excited to bring another unique marketplace into the Etsy family. This transaction will establish a foothold for us in Latin America, an underpenetrated ecommerce region where Etsy currently does not have a meaningful customer base. We look forward to welcoming Elo7's talented leadership team and employees to the Etsy family."

The Gunderson deal team was led by corporate partner Adan Muller, commercial and technology transactions partner Aaron Rubin, tax partner Jaime Narayan, executive compensation partner Romica Singh, counsel Billy Kwon, and associates Alex Khachaturian, Donovan Westbrook, Carolina Zanolo, and Eduarda Tavares.