Depop, the second-hand startup, acquired by eBay for 1.2 billion dollars 🦄
Depop, the marketplace that has revolutionized the way in which new generations buy and sell used clothing, changes hands: eBay has in fact announced the acquisition of the platform from Etsy for a record amount.
Depop, IL Marketplace which has revolutionized the way in which new generations buy and sell used clothing, changes hands: eBay has in fact announced the acquisition of the platform from Etsy for a record amount.
A 1.2 billion dollar transaction that marks a turning point in the vintage and circular fashion market. eBay, a historic pioneer of e-commerce, thus aims to rejuvenate its user base and to consolidate its position in a rapidly expanding sector, that of second-hand, particularly loved by Gen Z.
Italian history and roots
The success of Depop is a story that starts from afar. The startup was founded in 2011 within H-Farm and, among the first to support it, there was the startup studio Nana Bianca.
Born from an intuition by Simon Beckerman, the app has been able to mix the functionality of an e-commerce with the interactivity of a social network such as Instagram. This unique mix has allowed Depop to rapidly scale international markets, becoming a “community-led marketplace” with more than 30 million registered users in more than 150 countries.
The details of the acquisition
Etsy, which had purchased Depop in 2021 for about 1.6 billion dollars, decided to sell the platform with a view to simplifying its portfolio. For eBay, the investment of 1.2 billion dollars represents a strategic move for Intercept the 7 million active buyers of the platform, 90% of which are under 26 years old.
Despite the transfer of ownership, Depop will continue to operate as an independent brand. The headquarters will remain in London and the current management will remain at the helm of the company, preserving that corporate culture and that visual language that have made the brand an icon for young conscious consumers.
An unstoppable market
The acquisition confirms the global trend towards a more sustainable consumption. The used clothing market is set to grow much faster than traditional retail in the coming years. With this transaction, eBay not only buys a technology or a user database, but secures itself a place at the forefront of the future of digital commerce, where the sustainability and the social dimension of buying they are now essential assets.
