eBay Snaps Up Depop for $1.2B A Strategic Bet on Gen-Z Fashion.

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eBay Snaps Up Depop for $1.2B A Strategic Bet on Gen-Z Fashion.
eBay Acquires Gen-Z Favorite "Depop" from Etsy in $1.2 Billion All-Cash Deal

eBay has officially announced the acquisition of Depop, a leading peer-to-peer (C2C) social shopping platform for secondhand fashion, from Etsy for $1.2 billion in an all-cash transaction.

The Valuation Gap: Etsy’s Strategic Exit

Etsy originally acquired Depop in 2021 for $1.625 billion, meaning this sale represents a significant loss in valuation. This move aligns with Etsy’s current broader strategy to divest from specialized subsidiaries acquired during the pandemic-era e-commerce boom. Over the past year, Etsy has been offloading various assets, including the musical instrument marketplace Reverb and the Brazilian handmade marketplace Elo7.

Depop by the Numbers

Depop remains a powerhouse in the "re-commerce" sector, particularly among younger demographics. Key performance metrics from the past year include:

  • Gross Merchandise Value (GMV): Approximately $1 billion.

  • Active Community: Over 7 million buyers and 3 million sellers.

  • Gen-Z Dominance: 90% of active users are under the age of 34, cementing Depop's status as the go-to app for Gen-Z and Millennial fashion enthusiasts.

eBay's biggest problem over the past decade has been its "old-fashioned brand image." Acquiring Depop gives eBay immediate access to a Gen-Z user base without needing to rebuild from a new brand. This group is key to the circular fashion market.

The resale market is growing three times faster than the new fashion market. The acquisition of Depop will strengthen eBay's ability to compete with rivals like Vinted and Poshmark, who are aggressively expanding into Europe and America.

Depop is more than just a marketplace; it functions like a social media platform where users can follow each other (Instagram-like feed). eBay wants to learn about algorithms and community building to apply to its core search-based platform.

It is expected that eBay will implement its highly successful "Authenticity Guarantee" system, previously used in sneakers and luxury watches, on Depop to build trust among young buyers concerned about counterfeits.

 

The Future of Productivity Manus Agents Turn Messaging Apps into Full-Service Personal Assistants.

 

 Source: Etsy

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