eBay has agreed to buy Depop from Etsy for $1.2 billion in cash, with the transaction expected to close in the second quarter of 2026 pending customary closing conditions. Depop will remain under Etsy’s operation until completion and be classified as a discontinued operation on Etsy’s financial statements beginning in Q1 2026.

The Depop platform targets Gen Z shoppers, adding mobile-first fashion resale to eBay’s portfolio and potentially driving increased gross merchandise volume. The deal positions eBay to deepen its foothold in the fast-growing secondhand apparel market and enhance its mobile engagement metrics.