eBay has finalized the acquisition of Depop, a popular second-hand clothing app, from Etsy for a sum of $1.2 billion (£890 million). This strategic move by eBay aims to tap into a younger audience demographic. The transaction is expected to be completed in the second quarter of this year.
Established in London in 2011, Depop will continue to operate under its existing brand, name, and platform following the acquisition. The surge in demand from Gen Z and Millennial consumers for sustainable fashion and pre-owned items has significantly contributed to Depop’s success.
At the end of last year, Depop boasted seven million active buyers, with nearly 90% of them aged under 34. Notably, its sales in the US surged by almost 60% over the past year.
Jamie Ianonne, eBay’s CEO, expressed confidence in the acquisition, emphasizing the potential for long-term growth by leveraging eBay’s scale and operational capabilities. The fashion segment, a key driver for eBay’s consumer-to-consumer business, generated over $10 billion in annual gross merchandise volume, with a 10% year-over-year growth in the US in 2025.
Kruti Patel Goyal, Etsy’s CEO, highlighted the focus on enhancing Etsy’s marketplace post the Depop sale. The deal signifies a positive step for all parties involved and aligns with Etsy’s strategic direction to enhance its platform for buyers and sellers.
Peter Semple, Depop’s CEO, welcomed the acquisition by eBay, citing the shared vision for sustainable fashion and market expansion. The collaboration is set to propel Depop’s growth trajectory in the US and globally, building on its strong brand and product offerings.
The acquisition reflects eBay’s commitment to advancing its presence in the consumer-to-consumer fashion segment and appealing to a broader audience in the evolving recommerce industry.