EBay Inc. has reached an agreement to acquire Depop, a resale platform popular with Gen Z and Millennials, from Etsy, Inc. for roughly $1.2 billion in cash.
Depop had annual gross merchandise sales (GMS) of approximately $1 billion in 2025, including nearly 60 percent year-over-year growth in the U.S. As of December 31, the marketplace had 7 million active buyers, nearly 90 percent of whom are under the age of 34, and more than 3 million active sellers.
EBay said the addition of Depop will “accelerate its efforts to better reach younger, fashion-forward consumers and expand its presence in resale.”
As part of EBay, Depop is expected to benefit from the company’s global scale and suite of capabilities, including its financial services, shipping solutions and offerings like Authenticity Guarantee to further accelerate growth and enhance the buyer and seller experience. EBay will also expand Depop’s inventory visibility, including through cross-listing opportunities.
“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,” said Jamie Ianonne, chief executive officer of EBay. “A key C2C driver, fashion represents more than $10 billion in annual gross merchandise volume (GMV) for EBay and delivered 10 percent year-over-year GMV growth in the U.S. in 2025. This acquisition presents an opportunity to advance one of our newest and fastest-growing Focus Categories with a marketplace that complements our existing presence and enables us to reach a younger demographic across the expanding recommerce 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.”
Peter Semple, chief executive officer of Depop, added, “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 U.S. 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. We’re very grateful to Kruti and the Etsy team for their partnership in advancing Depop’s business and mission to make fashion circular.”
“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,” said Kruti Patel Goyal, chief executive officer of Etsy. “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 U.S. I am confident that Depop is well-positioned for its next phase of growth as part of EBay.”
The transaction, which has been unanimously approved by EBay’s and Etsy’s Board of Directors, is expected to close in the second quarter of 2026, subject to the satisfaction of certain closing conditions and receipt of required regulatory approvals.
Image courtesy Depop
