At a time when resale is gaining across the United States, eBay announced it has completed the acquisition of Depop, a leading consumer-to-consumer marketplace with a highly engaged Gen Z and Millennial customer base.
Depop has built a vibrant and fastest-growing community in fashion and homewares resale, cultivating a distinct, community-driven platform rooted in discovery, creativity and peer-to-peer connection, eBay stated. The highly engaged customer base and accessibly priced inventory, the company added, makes Depop a natural complement to eBay’s C2C commerce operations. As it onboards the operation, eBay expressed its intention to support Depop’s continued growth while preserving the elements that make the marketplace unique.
Depop will operate as a complementary business to eBay, the company maintained, retaining its distinct brand, platform, customer experience and culture. In operational terms, eBay said will support Depop’s category leadership with its global scale and capabilities in shipping, personalization, compliance and trusted services to enhance buyer and seller engagement and accelerate growth.
“As a global leader in C2C and recommerce, eBay’s acquisition of Depop further strengthens our C2C value proposition,” said Jamie Iannone, eBay CEO. “This combines two distinct customer experiences and expands our reach with the next generation of buyers and sellers. 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.”
The acquisition occurs as Game Stop mulls a purchase of eBay, although the e-tailer dismissed the initial proposal made.
