eBay agreed on 18 February to acquire Depop, the London-founded peer-to-peer fashion marketplace, from Etsy for about $1.2bn in cash.
Why eBay Inc. is buying Depop
eBay said Depop would advance fashion, one of its fastest-growing focus categories with more than $10bn of annual gross merchandise volume, and give it access to a younger customer base. It plans to extend its shipping, payments and Authenticity Guarantee services to Depop users and cross-list Depop inventory.
Deal terms and financing
eBay funded the deal with cash on hand. Both boards approved it unanimously, and Depop keeps its name, brand and platform. Etsy said it would use the proceeds for general corporate purposes, share buybacks and its core marketplace.
Regulatory approvals and timing
The companies initially expected closing in the second quarter of 2026. The UK Competition and Markets Authority cleared the deal on 15 July without a Phase 2 probe, and Etsy completed the sale on 30 July 2026, according to its SEC filing.
Market context
Depop reported about $1bn of gross merchandise sales in 2025, with nearly 60% growth in the US, and nearly 90% of its 7 million active buyers were under 34. Etsy bought the business for about $1.62bn in 2021.
