Online marketplace Etsy is to sell its secondhand fashion platform, Depop, to ecommerce giant eBay.
eBay will pay $1.2bn for Depop, which generated annual gross merchandise sales of approximately $1bn last year. The deal is expected to enable eBay to extend its appeal to “younger, fashion-forward consumers… in one of the most dynamic areas of resale.”
Depop has 7 million active buyers, almost 90% of whom are under the age of 34, and more than 3 million active sellers.
eBay chief executive Jamie Ianonne said: “Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and 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.
“A key C2C driver, fashion represents more than $10bn in annual gross merchandise volume for eBay and delivered 10% year-over-year GMV growth in the US in 2025. This acquisition presents an opportunity to advance one of our newest and fastest-growing focus categories by leveraging a marketplace that complements our existing presence and enables us to reach younger demographics across the expanding re-commerce landscape.
“We’re excited to welcome the Depop team to eBay, and look forward to building on what makes them unique – their brand, culture, and community – to deliver compelling benefits to buyers and sellers.”
Etsy chief executive Kruti Patel Goyal said: “We are excited that this transaction allows us to focus exclusively on the compelling opportunity we see in front of us: to grow the Etsy marketplace in ways that matter most to our buyers and sellers.
“We believe this transaction is a great outcome for Etsy’s shareholders, and a positive next step for all involved. 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 US. I am confident that Depop is well-positioned for its next phase of growth as part of eBay.”
Depop chief executive Peter Semple said: “We’re thrilled to begin this next chapter with eBay, whose experience in the C2C fashion space and shared belief in people, opportunity, and a more sustainable future positions us to meaningfully accelerate our marketplace in the US and beyond. This transaction is a testament to the significant growth we have delivered as we have evolved our product experience and strengthened our brand’s place in the world.”
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