eBay Completes $1.4 Billion Acquisition of Depop From Etsy
eBay has finalized its acquisition of fashion resale platform Depop from Etsy in an all-cash deal.
The total purchase price reached approximately $1.4 billion. The amount reflects a base price of $1.2 billion alongside $200 million in net purchase price adjustments and interest.
eBay will operate Depop as an independent brand. Depop will retain its name, mobile app, operating platform, management, and London headquarters.
Jamie Iannone, CEO of eBay, outlined the corporate objective behind the purchase:
"As a global leader in C2C and recommerce, eBay's acquisition of Depop further strengthens our C2C value proposition. This combines two distinct customer experiences and expands our reach with the next generation of buyers and sellers."
The transaction expands eBay's presence among Gen Z and Millennial consumers in secondhand fashion. Peer-to-peer fashion sales generate more than $10 billion in annual gross merchandise volume for eBay.
Peter Semple, CEO of Depop, detailed the transition for the app's user base:
"Joining eBay, a company with a longstanding record of driving innovation in recommerce globally, is an exciting new chapter for Depop and our community. We've built a marketplace centred on creativity, self-expression and connection, and we're just getting started."
Etsy originally bought Depop in 2021 for $1.625 billion. Etsy chose to divest the marketplace to concentrate corporate resources on its core handmade goods platform.
Etsy plans to use the $1.4 billion proceeds to fund general corporate operations and accelerate its ongoing share repurchase program.
Kruti Patel Goyal, CEO of Etsy, stated:
"This transaction allows us to move forward with a clear focus on building the best marketplace for Etsy's buyers and sellers, and is a strong outcome for our shareholders."
Goyal added:
"We're proud of what the Depop team has built, a truly differentiated brand with a passionate community, and we wish them continued success as part of eBay."
eBay will link its backend systems to Depop's platform. Depop buyers and sellers will gain access to eBay’s shipping services, compliance operations, and user verification tools.
An official statement from eBay detailed the operational plan:
"By combining Depop's category leadership with eBay's global scale and capabilities — including shipping, personalization, compliance, and trusted services — we will enhance the buyer and seller experience and accelerate growth."
Depop users have traded over 100 million secondhand fashion items on the platform to date.
Depop operates in a secondhand market featuring direct competition from platforms like Vinted alongside brand-owned resale programs across North America and Europe.
