Ebay completes 1.4 billion dollar Depop acquisition

E-commerce group eBay has completed its acquisition of London-based fashion resale marketplace Depop from Etsy, both companies announced on Thursday. The seller received approximately 1.4 billion dollars in cash. According to the announcement, the figure reflects a purchase price of 1.2 billion dollars plus 200 million dollars of net purchase price adjustments and interest, and remains subject to certain post-closing adjustments.

The transaction, first announced on February 18, closed on July 30 following the receipt of required regulatory approvals. Depop will operate as a complementary business within eBay, retaining its brand, platform, customer experience and culture, with Peter Semple continuing as chief executive officer.

For Etsy, the exit ends a five-year ownership below its entry price, the Brooklyn-based company having acquired Depop in 2021 for approximately 1.625 billion dollars at the peak of pandemic-era resale valuations. Etsy said it will use the proceeds for general corporate purposes in line with the capital allocation strategy set out in its April 29 shareholder letter, which included plans to accelerate share repurchases.

"We are excited for what's next for both Etsy and Depop," said Kruti Patel Goyal, chief executive officer of Etsy in a statement. "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. 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."

Combined growth potential

At the February announcement, Depop reported 2025 gross merchandise sales of roughly one billion dollars, including close to 60 percent year-over-year growth in the US, with seven million active buyers as of December 31, 2025, nearly 90 percent of them under the age of 34, and more than three million active sellers.

“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,” said Iannone said. “Our goal is to preserve Depop’s strong brand, community, and product experience, while helping the team accelerate the roadmap that is already underway and explore synergies with eBay in areas that can supercharge our combined growth potential.”

Consolidation arrives as resale scales elsewhere. Lithuanian marketplace Vinted reported 2025 GMV of 10.8 billion euros, up 47 percent, and entered the US in January 2026, putting it in direct competition for the Gen Z sellers Depop has been growing fastest among.