eBay has acquired Depop, the secondhand clothing app that is wildly popular with Gen Z.
On Wednesday, Etsy announced that eBay had purchased Depop for $1.2 billion. Etsy previously acquired Depop in 2021.
“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,” Peter Semple, Chief Executive officer of Depop, said in a statement.
“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.”
Like Depop, eBay sells pre-owned items. However, while Depop focuses on clothing and accessories, eBay sells everything from electronics to apparel, home goods, toys, and even auto parts. eBay, which marked its 30th anniversary in September, hopes that the acquisition will help it “reach a younger demographic across the expanding re-commerce landscape,” per a press release.
The veteran platform will pay cash for Depop, with the deal expected to close in the second quarter of 2026. It’s anticipated that Depop will promote a jump in used clothing sales on eBay. Depop has become “one of the fastest-growing fashion resale marketplaces in the US,” Kruti Patel Goyal, chief executive of Etsy, said in the press release.
Regardless, eBay did well in 2025, with its revenues rising to $11.1 billion, compared to the same time in 2024, according to the BBC. Etsy purchased Depop five years ago for $1.6 billion to compete with retailers like Amazon.
