eBay has made a deal to acquire the popular second-hand clothing app Depop from Etsy for a significant amount of $1.2 billion (£890 million). According to eBay, this acquisition is aimed at attracting a younger audience, with the expected completion of the transaction set for the second quarter of this year.
Depop, established in London in 2011, will maintain its current identity, brand, and platform under eBay’s ownership. This move follows Etsy’s purchase of Depop five years ago for $1.62 billion (£1.2 billion).
The surge in interest from Generation Z and Millennial consumers in sustainable shopping and second-hand goods has propelled Depop’s success. The app boasted seven million active buyers by the end of last year, with nearly 90% of them aged under 34. Notably, Depop’s sales in the United States have climbed by almost 60% over the past year.
Jamie Iannone, eBay’s CEO, expressed confidence in the acquisition, mentioning that Depop’s focus on pre-loved fashion aligns well with eBay’s strategic direction. The fashion sector on eBay represents over $10 billion in annual gross merchandise volume (GMV) and saw a 10% year-over-year growth in the US in 2025.
Kruti Patel Goyal, CEO of Etsy, highlighted the positive aspects of the transaction, emphasizing Etsy’s commitment to enhancing its own marketplace for buyers and sellers. Goyal expressed optimism about Depop’s future prospects within eBay.
Peter Semple, Depop’s CEO, welcomed the partnership with eBay, emphasizing the potential for growth and sustainability in the consumer-to-consumer fashion market. Semple mentioned that the acquisition signifies the remarkable progress Depop has made in establishing its brand and market presence.
The agreement represents a significant step for both eBay and Depop in expanding their reach and offerings in the fashion resale sector, catering to a diverse and environmentally conscious clientele.