Hi Reader, here's what you need to know for June 3rd in 2:58 minutes.

📣 Finimize Announcement

At Finimize we’re excited about bite-size information changing how the world consumes financial content. We’re excited to welcome a new board member to help take Finimize to the next level. Blinkist founder Niklas Jansen has built one of the largest bite-size content businesses with 18 million subscribers globally. Read more about our plans here.

Today's big stories

Online marketplace Etsy is buying preowned fashion app Depop for $1.6 billion in an effort to attract younger shoppers
Our analyst digs into the pros and cons of an indirect way to play the crypto craze – Read Now
Danish power giant Orsted unveiled a $57 billion plan to become the world’s largest renewable energy producer

Looking For A Come-Up

What’s Going On Here?

Folksy ecommerce company Etsy said on Wednesday it would Depop some tags and try out a more youthful look by buying the cool kids’ favorite clothing resale platform for $1.6 billion.

What Does This Mean?

With sustainability high on shoppers’ lists of priorities, secondhand fashion firms are enjoying a season in the sun. The likes of ThredUp and Poshmark made hugely successful US stock market debuts earlier this year, while UK-headquartered Depop has proved particularly popular with Generation Z on both sides of the Atlantic: 90% of its 30 million active users are under 26.

Publicly listed online marketplace Etsy now appears keen for a bigger – and younger – slice of the preowned action. While its largest deal ever will leave Depop operating independently, the takeover gives Etsy access to a growing customer base across 150 countries – and one likely to spend ever more money in the years to come.

Why Should I Care?

For markets: Long in the leg.
The global preowned clothing market is expected to expand 20% annually for the next five years (tweet this). The fact Etsy was willing to fork out 23x the value of Depop’s 2020 revenue reflects that optimism – and may also encourage investors in ThredUp and Poshmark, where shares currently change hands for only around 12x last year’s sales. Of course, Etsy may also be feeling flush: its own share price has more than doubled over the past year.

The bigger picture: Does my nose look big in this?
Ecommerce in general has done well out of a year in which many physical stores have been forced to shut. And even with restrictions now lifting across large parts of the planet, working (and shopping) from home could well be here to stay. So said teleconferencing provider Zoom this week as it reported better-than-expected quarterly results and raised its forecasts for 2021.

You might also like: Sustainability-focused shoppers are flocking to preowned fashion marketplaces – here are the ones that could look best in your portfolio.

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🙋 Ask a question

2. Analyst Take

Should You Buy Coinbase?

There’s an indirect way to play the crypto craze: buying into newly listed cryptocurrency exchange Coinbase.

But before you dive in, you’ll want to weigh the pros and cons.

For instance, there’s huge earnings growth potential – but changes in regulation could see those hopes all but disappear.

Investment banks including Goldman Sachs and JPMorgan took a good hard look at the stock just last week – and you may be surprised at their conclusions.

So that’s today’s Insight: the opportunities Coinbase offers, the risks that come along with them – and how you can balance the two to make a smart investment decision.

Read or listen to the Insight here

Be the change you want to see

It’s an exciting time: the world is changing, and you have a chance to be at the forefront.

See, Jupiter Asset Management thinks that between climate change and social inequality, things will be very different in the future…

According to the folks over there, changing attitudes toward the environment and social responsibility will affect all aspects of life – your investments included.

That’s why, in 2018, Jupiter founded its Global Sustainable Equities Fund. The fund invests in high-quality companies that balance the needs of its three pillars: the planet, people, and profit.

Yep, that means you don’t need to choose: you can have all three. Head over to Jupiter to learn more.

Find Out More

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