eBay to Acquire Depop for $1.2B After Depop Tops $1B GMV in 2025
eBay will acquire Depop from Etsy for $1.2 billion in cash, adding a Gen Z-focused fashion resale marketplace that generated $1 billion in gross merchandise sales with 60% US growth in 2025. Depop’s 7 million active buyers and 3 million sellers will extend eBay’s $10 billion annual fashion GMV business.
1. Deal Terms
eBay agreed to purchase Depop from Etsy for approximately $1.2 billion in cash, subject to purchase price adjustments. The transaction has been approved by both boards and is expected to close in the second quarter of 2026, pending regulatory approvals.
2. Depop Platform Metrics
In 2025, Depop achieved about $1 billion in gross merchandise sales, including 60% year-over-year growth in the U.S. The platform hosts 7 million active buyers—nearly 90% under age 34—and more than 3 million active sellers.
3. Strategic Rationale
The acquisition bolsters eBay’s consumer-to-consumer fashion segment, which generated over $10 billion in annual GMV with 10% US growth in 2025. Depop’s mobile-first, social-forward model and youthful user base will complement eBay’s scale and expand its reach in the recommerce market.
4. Integration and Financing
eBay will fund the acquisition with cash on hand while allowing Depop to retain its brand and community-driven culture. Integration plans include leveraging eBay’s payment services, shipping solutions, and authenticity guarantees to drive global cross-listing and operational synergies.