Online retailer eBay buying Gen Z secondhand marketplace Depop from

Online retailer eBay buying Gen Z secondhand marketplace Depop from

Online vendor eBay desires a much bigger share of the Gen Z market.

The on-line vendor has agreed to buy secondhand vogue marketplace Depop from Etsy for about $1.2 billion in money, the firms said Wednesday.

The deal comes at a time when used clothes has turn out to be more and more widespread, sought out by buyers trying to find distinctive objects that price less than new ones and hold the outdated stuff from heading to the landfill.

An Ebay app emblem is shown on a cell phone, July 11, 2019, in Miami. AP

In an announcement, eBay’s CEO Jamie Ianonne said that the acquisition is a chance to seize a youthful demographic.

“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,” Ianonne said.

As of Dec. 31, 2025, Depop’s marketplace had 7 million lively consumers, almost 90% of that are under the age of 34, and more than 3 million lively sellers, the joint release said.

The deal comes 5 years after Etsy purchased Depop for $1.6 billion. The app was based in 2011.

The Depop application on a smartphone organized in the Brooklyn borough of New York, U.S., on Wednesday, June 2, 2021. Bloomberg through Getty Images

EBay, based in San Jose, California, said it intends to pay money. Etsy, based in Brooklyn, New York, plans to make the most of the proceeds for common company functions, continued share repurchases and funding in its core marketplace, according to the release.

The transaction, which has been unanimously accepted by eBay’s and Etsy’s boards, is at the moment anticipated to shut in the second quarter, the firms said.

Depop is anticipated to retain its identify, model, platform, and its tradition, the firms said.

EBay’s shares rose more than 7%, while Etsy’s share soared shut to fifteen% in after-hours buying and selling when the news was announced.

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