Etsy made 2 massive acquisitions at peak tech valuations. Two years and a $1 billion write-off later, it has buyer’s remorse as it sells Elo7.

• Etsy said it would sell Elo7 two years after buying it for $217 million. 
• Etsy bought Elo7 and Depop at a time when tech valuations were sky-high. 
• E-commerce companies have also faced inflation and a changed online spending environment.

Two years after it made two splashy acquisitions, Etsy executives said Tuesday that one had not gone according to plan. 

Etsy disclosed that it had sold Elo7, the Brazilian online marketplace it acquired in July 2021 for $217 million, to fellow Brazilian online marketplace Enjoei for an undisclosed amount.