In a move aimed squarely at the wardrobes — and wallets — of younger shoppers, EBay to acquire Depop is the headline shaking up the online resale market.
Freshfields LLP is advising eBay Inc. on its planned $1.2 billion all-cash purchase of fast-rising mobile fashion resale platform Depop from Etsy Inc., which is being guided by Fenwick & West LLP.
The deal, unanimously approved by both companies’ boards, is expected to close in the second quarter of 2026, pending regulatory clearances and customary closing conditions, the companies said Wednesday.
A Strategic Bet on Youth and Resale
EBay plans to finance the acquisition using cash on hand. Etsy, meanwhile, said it intends to deploy the proceeds for general corporate purposes, share repurchases and investments in its core marketplace operations.
Depop has carved out a powerful niche among Generation Z and millennial consumers, turning secondhand fashion into a social marketplace phenomenon. In 2025 alone, the platform recorded roughly $1 billion in gross merchandise sales, with nearly 60% growth in the United States.
The numbers reveal a demographic engine humming at full speed: approximately 7 million active buyers — nearly 90% of them under age 34 — and more than 3 million active sellers.
“Depop has built a trusted, social-forward marketplace with strong momentum in the pre-loved fashion category, and we are confident that as part of eBay, Depop will be even more well-positioned for long-term growth,” eBay CEO Jamie Iannone said in a statement.
