Summary
eBay has purchased Depop, a second-hand clothing app popular with younger generations, for $1.2 billion. The acquisition is part of eBay's strategy to attract more young users interested in buying and selling used clothing.
Key Facts
- eBay bought Depop, which is a second-hand clothing app, for $1.2 billion.
- Depop was founded in the UK and bought by Etsy in 2021.
- Nearly 90% of Depop's active buyers are under the age of 34.
- Depop has over three million active sellers on its platform.
- eBay aims to reach younger customers with this new acquisition.
- Depop is one of the fastest-growing fashion resale marketplaces in the U.S.
- Etsy, which previously bought Depop, has seen its share price increase by 15% after selling it.
