It's Monday, June 28th. Welcome to Marketfoolery. I'm Chris Hill with me. Mr. Jason Moser. Good

to see you. Good to see you. Let me just say, you look well-rested. You look like you've

been well-fed, Chris. Anyone who goes to Charleston, South Carolina and is not well-fed is

doing something wrong. Yeah, yeah. I'll vouch. I'll vouch. I apologize for the quality of my

voice, somehow picked up a cold over the weekend. We've got a few things to get to. We're going

to talk entertainment news. We've got some allocation strategy to discuss. We're going to begin

with the deal of the day. Etsy is buying ELO7, which is often referred to as the Etsy of Brazil.

Now, you may say, doesn't Etsy already operate in Brazil? Yes, they do. And ELO7 is going to remain

as its own brand. It's going to keep the branding. $217 million. This is a much smaller deal than the

one Etsy did recently for Deepop in the UK. But it looks like Wall Street is very happy with this deal,

because shares of Etsy up around 6%. Yeah. I mean, I definitely understand that I do agree with it.

I think it's a good deal. I think when you look at the business of ELO7, I mean, it is a small

business, right? But it is growing very quickly. Etsy does have a presence in Brazil to an extent.

But when you look at Etsy's business overall, I mean, 22% of overall revenue comes from outside

the US and UK markets. So Latin America and mainly Brazil is still a small part of the business.

So I think this makes sense to really gain more share in that space. And I mean, there's a good

reason why they're doing that. And you look at Latin American e-commerce penetration today,

it's still less than 10%. It's pegged to hit $29 billion in 2021. And the forecasts are for

that to grow 26% annually through 2024. So clearly a big opportunity there. And it's very

believable. I mean, we of course have seen the move towards e-commerce. And the success that Etsy

has had domestically mainly here today, but really globally. I mean, it is something that is

starting to pick up on a global level. And I think that for the business for Etsy, I mean,

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