Depop

E-Commerce · Fashion Resale · Marketplace

Acquisition

eBay completes $1.2B acquisition of Gen Z fashion app Depop from Etsy

The sale price lands below what Etsy paid for Depop five years earlier, marking one of its costliest acquisition retreats.

• eBay closed its acquisition of Depop from Etsy on July 30, 2026, paying a $1.2 billion purchase price plus $200 million in net adjustments and interest, or about $1.4 billion in total cash.
• Depop, founded in London in 2011, is a community-driven C2C fashion resale marketplace popular with Gen Z and Millennial shoppers, generating roughly $1 billion in 2025 gross merchandise sales.
• Depop will keep operating as a standalone brand under CEO Peter Semple, while tapping eBay's shipping, personalization, compliance and trust infrastructure to scale.
• Etsy originally bought Depop in 2021 for about $1.625 billion at the height of pandemic-era resale valuations, meaning this exit locks in a loss on that investment.
• The deal, first announced February 18, 2026, closed after the UK Competition and Markets Authority declined on July 15 to refer it for an in-depth Phase 2 review.
• The sale lets eBay deepen its push into fashion resale, already a $10 billion-plus annual category, while Etsy narrows focus to its core marketplace and redirects proceeds toward share buybacks.