#147 - Depopped

In early November 2022, Etsy took a $1 billion impairment charge, eliminating all goodwill carried on its books for Depop and Elo7. Goodwill is an intangible asset created by M&A, reflecting the difference between the acquisition price and the fair value of the assets acquired.

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This was always going to happen… Anyone who acquired a VC-backed company in this time is probably going to have to do the same thing.