eBay has reached an agreement to acquire Depop, a popular second-hand clothing app, from Etsy for $1.2 billion (£890 million). This move is aimed at appealing to a younger audience, with the deal expected to be finalized in the second quarter of this year.
Established in London in 2011, Depop will maintain its name, branding, and platform following the acquisition. The surge in demand from Gen Z and Millennial consumers for sustainable fashion and pre-owned items has significantly boosted Depop’s growth.
At the end of last year, Depop boasted seven million active buyers, predominantly under the age of 34. The platform’s sales in the US have soared by nearly 60% over the past year.
eBay’s Chief Executive, Jamie Ianonne, expressed confidence in Depop’s market position and the potential for long-term growth within eBay’s ecosystem. The acquisition aligns with eBay’s strategic focus on the fashion sector, which generated over $10 billion in annual gross merchandise volume in the US in 2025.
Etsy’s CEO, Kruti Patel Goyal, highlighted the opportunity for Etsy to concentrate on enhancing its marketplace for buyers and sellers. The transaction is viewed as beneficial for Etsy’s shareholders and paves the way for both companies to pursue their distinct growth trajectories.
Depop’s CEO, Peter Semple, welcomed the collaboration with eBay, emphasizing the shared vision for a sustainable future and the potential to expand the marketplace globally. The acquisition marks a significant milestone for Depop, reflecting its rapid growth and commitment to a purpose-driven community.
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