eBay Inc. is acquiring U.K.-based fashion resale marketplace Depop from Etsy for approximately $1.2 billion in cash, marking a renewed bet on recommerce and younger shoppers.
The purchase price is roughly $400 million less than the $1.6 billion Etsy paid for Depop in 2021.
Depop operates a mobile-first, consumer-to-consumer marketplace centered on fashion resale. In 2025, the platform generated about $1 billion in gross merchandise sales, including nearly 60% year-over-year growth in the U.S.
As of Dec. 31, 2025, Depop reported 7 million active buyers, nearly 90% of whom are under 34, and more than 3 million active sellers. The app ranked eighth on MobiLoud’s top 25 shopping apps of 2025 list.
eBay said the acquisition will strengthen its consumer-to-consumer strategy, particularly in fashion, which accounts for more than $10 billion in annual gross merchandise volume on its platform and grew 10% year over year in the U.S. in 2025.
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“Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category,” CEO Jamie Iannone said in a statement.
He added that eBay’s scale and operational capabilities position Depop for long-term growth, while helping eBay expand its reach with younger, fashion-focused consumers.
As part of eBay, Depop buyers and sellers will gain access to eBay’s Authenticity Guarantee protections.
The company also plans to increase visibility of Depop inventory, including through cross-listing opportunities across platforms.
Etsy CEO Kruti Patel Goyal said the sale enables Etsy to focus on growing its core marketplace.
The company intends to use proceeds from the transaction for general corporate purposes, share repurchases and further investment in its primary business.
eBay plans to fund the deal with cash on hand. The transaction has been unanimously approved by both companies’ boards and is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions.
Following the close, Depop will retain its name, brand, platform and culture, eBay said.
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