Depop Acquired by eBay — Technology M&A

eBay has agreed to acquire Depop, the London-based secondhand fashion resale marketplace, in a strategic cash deal valued at about $1.2bn. The transaction is structured as a merger and is expected to close following customary conditions. Depop will operate under its existing name, brand, and platform, with eBay positioning the acquisition as an expansion of its recommerce footprint and a way to strengthen engagement with younger shoppers.

Depop operates in the technology-enabled ecommerce segment focused on resale and peer-to-peer fashion trading, a category that has continued to gain traction with Gen Z consumers amid shifting spending patterns and sustainability-driven preferences. The deal also reflects competitive pressure in online marketplaces, as eBay seeks to broaden its appeal beyond its core user base by adding a fashion-native platform with a large community of buyers and sellers. Depop reported about $1bn in annual gross merchandise sales in 2025, with growth concentrated in the US, where it recorded nearly 60% year-on-year growth.

While the announcement does not specify a definitive closing date or detailed advisor list, the companies framed the combination as complementary: Depop’s product experience and community are expected to enhance eBay’s ability to reach younger demographics across the expanding recommerce landscape. For the market, the acquisition underscores continued consolidation and investment in resale platforms as ecommerce players compete for share in fashion recommerce.