eBay snaps up second-hand fashion app Depop in $1.2bn deal
Online seller eBay has struck a deal to purchase online fashion marketplace Depop for $1.2bn (£890m).
The cash deal, expected to be completed by the middle of this year, comes just five years after the second-hand clothing app was acquired by craft marketplace Etsy for $1.6bn (£1.18bn).
Peter Semple, Depop’s chief executive, hailed the sale as “testament to the significant growth we have delivered”.
Depop, which had ten million active buyers and sellers by the end of last year, is expected to retain its brand and platform.
eBay targets younger shoppers
eBay hopes this will allow it to reach a younger demographic of shoppers, it said in a statement, as the online auction platform enters its fourth decade.
Nearly nine in ten of Depop’s seven million active buyers are under 34, according to Etsy.
Chief executive Jamie Iannone said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category.
“We are confident that as part of eBay, Depop will be even more well-positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities.”
The reselling giant previously challenged Depop and its competitor Vinted when it launched a tie-up with M&S, allowing shoppers to trade in clothing and buy second-hand items through an “M&S x eBay” store.
US firm eBay published its 2025 full-year results on Thursday, with revenue rising eight per cent from the previous year.
Profit at eBay’s UK arm surged in the latest financial year, from £2.7m to £36.5m, as its decision to waive selling fees paid off.
Depop sale will boost its growth, says eBay
Announcing the purchase, Iannone praised Depop’s “strong momentum,” which he said would be boosted by the sale.
He said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category.”
Kuri Patel Goyal, chief executive of Etsy, said: “We are proud of what the Depop team has built – a truly differentiated brand and product, grounded in clear purpose and strong community – becoming one of the fastest-growing fashion resale marketplaces in the U.S.
“I am confident that Depop is well-positioned for its next phase of growth as part of eBay.”