Users can pay for items using PayPal. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. Sellers can set up their Depop shop and quickly list . The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. Sure, both platforms offer similar services, but their approach is different. Depop has around 30 million users in over 150 countries, the majority of whom are young people. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. The second-hand market is projected to grow at a 39% CAGR from 2019-2024 in the United States, reaching $64 billion, and to grow to twice the size of fast fashion on a global basis.1 Starting first in the U.K. and moving into the U.S. and Australia, Depop now has a community of approximately 30 million registered users across nearly 150 countries. Depop has evolved to become the community-powered fashion marketplace to buy and sell unique fashion, with approximately 30 million registered users in more than 150 countries. As a Premium user you get access to the detailed source references and background information about this statistic. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. Depop allows its sellers to include rules buyers can see when scrolling through their posts. Sellers and users weigh in on the debate", "Everyone's Favorite Thrifting App Favors Thin White Models", https://en.wikipedia.org/w/index.php?title=Depop&oldid=1141140101, Online marketplaces of the United Kingdom, Articles lacking reliable references from September 2021, Articles with unsourced statements from August 2022, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 23 February 2023, at 15:28. . Ebay has a working international search so sellers aren't forced to do it, on depop you have to change your location manually to see listings from other countries. Depop is a place for anyone to discover and celebrate their style on their own terms, and to feel good about their fashion choices by extending the lives of millions of garments. A DJ performs at the launch of social shopping app Depop's 3-month pop-up at Selfridges on August 01, 2019 in London, England. however, despite it being 3-4 days since delivery (on the transaction info it actually says i should have gotten the money within 1 day of delivery), it still says my payment is on hold. We're a community that inspires and connects our users." You can then. Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Depop proudly states that 90 percent of its active users are under 26. Founded in 2011, Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world's most diverse and progressive home of fashion. Get this delivered to your inbox, and more info about our products and services. There are plenty of resources available to help you cleared up any questions you may have. The app is currently available only in European countries, but it's expected to soon be available in the US too. Got a confidential news tip? Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. Depop should know. The platform's "Explore" page features items picked out by Depop staff. Forward-looking statements include statements related to our potential addressable market,the potential benefits of the acquisition of Depop, expected impact of the acquisition of Depop on Etsy's future financial performance and the potential impact on Etsy's consolidated financial results, the anticipated timing of the closing of the acquisition of Depop, the anticipated impact of applying Etsy's expertise to Depop's business and the potential of Depop's business. Its sustainability plan is built around the UN's Global Goals, the 17 objectives designed to tackle the systemic causes of extreme poverty, including the climate crisis and inequity. Items are usually secondhand or homemade. The brand registered unprecedented growth in May and July 2020, with. This means that you will need a U.S., Canada, Australia, India, or UK billing and shipping address, as well as a U.S., Canada, Australia, India, or UK internet provider (IP) address. [5] Depop expanded and opened additional offices in Milan and New York City. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Etsy has sufficient available liquidity to fund the acquisition. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. This partly refers to self-identity. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. It must've been cuz I mentioned the BBB. Depop, on the other hand, is a better choice for a small business. Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. GET SERVICE INSTANTLY . The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Depop is designed for sellers who want to sell items such as clothing, shoes, clothes, vintage clothes and items, and cheap streetwear. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. Forward-looking statements include all statements that are not historical fact. By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Unfortunately, Depop doesnt ship directly to Europe. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. They will charge you extra to pay for the import taxes up front, but will just keep the money instead so you have to pay taxes x2 + handling fees when the package arrives in your country. The number of app users in the United Kingdom went from. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. Depop, which first emerged from an Italian tech incubator in 2011, then established its headquarters in London, is a dark horse in the fashion ecom wars. Well positioned to benefit from Etsy's expertise to accelerate growth and value creation: Depop is an early-stage business that we believe can leverage our proven value creation roadmap to drive further growth and profitability. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. As a mobile app, it is available on iOS and Android platforms. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. A replay of the video webcast will be available through the same link following the conference call starting at 10:30 a.m. Eastern Time today for at least three months thereafter. The company was founded in 2011 and is headquartered in London . Depop does not offer other ways to make money apart from selling items such as clothes, shoes, and other items. While creating a Depop account, your phone number will be required. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. It does come with fees and higher shipping costs. Click here to view 60+ Websites to Sell Stuff. As of today, Vinted is available in 15 countries. By Lisa Lacy. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. Sign up for free newsletters and get more CNBC delivered to your inbox. We'll now take an exciting leap forward as part of the Etsy family, benefiting from Josh's and his team's expertise, and the resources of a much larger company whose values are so aligned with ours here at Depop. Depop was established as a social network for readers of PIG magazine back in 2011 by magazine founder - and head of sunglasses brand Retrosuperfuture - Simon Bekerman. Take up to four photos. Generation Z, which spans consumers aged 7 to 25, will make up 40 per cent of the luxury market by 2035, according to consultancy Bain & Company, which has collaborated with Depop on the report. Depop is not available in some countries from summer (I cant remember exact month when this happened). BROOKLYN, NY 11201 United States. However, while both apps provide practically the same services, they differ in a few key areas. Investor Relations Contact: Etsy, Deb Wasser, Vice President, Investor Relations and ESG Engagement: dwasser@etsy.comor Etsy, Gabe Ratcliff, Director, Investor Relations: gratcliff@etsy.com, Media Relations Contact:Etsy, Kelly Clausen, Senior Director, Corporate Communications: press@etsy.com, Cautionary Statement Regarding Forward-Looking Statements. Last month [object Object] was the top country sending desktop traffic to depop.com - click below to discover all countries Top Countries United States 49.04% 1.30% United Kingdom 24.80% 4.06% Australia 8.56% 15.40% Canada 2.74% 0.35% Italy 1.27% 13.93% Others 13.60% See all countries depop.com Audience Demographics The company will send a six-digit code that you can use to verify your account. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. Get full access to all features within our Business Solutions. You can unsubscribe anytime. With 4 million active buyers and 2 million . Etsy expects to finalize the deal by the third quarter of 2021. Available on Android and iOS (free) Another great app for the starving student! It allows users to buy and sell items, most of which are used . Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. The Company's primary marketplace, Etsy . Whatever you're into, find the item and the seller for you on Depop. It is one of the few success stories of the dot-com bubble, which . If you have several packages, MyUS can bundle the packages into one order. [19][20] According to Taylor Lorenz of The Atlantic, Depop draws in Gen Z users through being easily accessible and having affordable prices, and much of its user base uses it to track trends in fashion. Vinted and Depop have different payment policies. From an enthusiasm for secondhand clothes to a sincere embrace of cultural fluidity, Generation Z are radically different to older demographic groups, according to wide-ranging research on their behaviours by Depop, the resale platform. Business Summary. [12] It is the 10th most-visited shopping platform for Gen Z consumers in the US,[18] and, in a poll conducted by The Strategist in 2019, Depop was voted by teenagers as their favorite resale website. SourceForge ranks the best alternatives to Depop in 2022. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. . Sr. Director of Investor Relations, Patricia Cruz [Online]. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. 4 locations detected. r/Depop omfgf i thought this girl had her boob out in the 1st pic and ive been debating whether or not to tell her for like an hour (in case it was an accident) and just realised it was her ELBOW They come to Depop for the clothes, but stay for the culture. Secondhand may be sustainable but its also cool. I think for my generation it comes quite naturally Theres a lot more respect and open conversation., For Gen Z, the inspiration journey is never linear, Semple says. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. A Division of NBCUniversal. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. One user even commented that they were able to receive payments fast. Decide your price. 2023 CNBC LLC. <br><br>I have demonstrated skills and experience in public relations, fashion marketing, and fashion communications. Get the item and o rate your experience with the seller. All Rights Reserved. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. Deb Wasser Etsy CEO Josh Silverman called the start-up the"resale home for Gen Z consumers. statistic alerts) please log in with your personal account. Type Subsidiary . Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Depop's 2020 gross. You can unsubscribe at any time. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. New risks emerge from time to time. Press question mark to learn the rest of the keyboard shortcuts. $5+ thereafter, Sell computers, home tech, cameras, phones, watches, laptops and tablets, Sell your item directly to buyer and get paid the next day via PayPal, 180+ million buyers, easy listings and sell directly from the smartphone, List up to 200 items for free every month, and only pay when they sell, Global brand trust and seller protections in place from buyers scams. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Founded in 2011, Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world's most diverse and progressive home of fashion. ", Etsy said the transaction consisted primarily of cash and was "subject to certain adjustments for Depop's working capital, transaction expenses, cash and indebtedness, and certain deferred and unvested equity for Depop management and employees.". Unlike Depop sellers, Vinted sellers don't pay any fees. As for Vinted, they have a buyer's protection feature. Currently, you are using a shared account. Describe what you're selling. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Learn more about how Statista can support your business. The vintage items are also great since fashion often brings back past trends from time to time. Then you can access your favorite statistics via the star in the header. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. Overview. The stock was up about 6.7% Wednesday afternoon. Depop is planning to run in-person events for later this year, similar to its 2019 Depop live series in New York and London, which brought together sellers and performers to create physical resale spaces alongside an events programme. i sold a pair of shoes on depop about ten days ago, and they were delivered on wednesday, 1/15/2021. It has also only made headway in the Australia, Italy, the UK and US, with the last two countries responsible for about 70% of downloads in 2020 and 2021. If you're trying to browse thredUP from another country, you unfortunately won't be able to access our site and will have restricted website access. Depop, for example, charges its sellers 10% of each sale plus the possible PayPal fee for one's country. Y, 2019. However, we have a pretty simple solution that gets around this restriction. But why Depop? Access to this and all other statistics on 80,000 topics from, Show sources information It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. 22. While Decluttr focuses on selling media stuff such as used tech and media such as CDs, DVDs, and Blu-rays, Depops primary focus is selling clothing, shoes, and other items. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. Available everywhere. The first difference is the market available. The company, founded by Simon Beckerman in 2011, is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney, with approximately 400 employees dedicated to its mission of building the world's most diverse progressive home of fashion, that's kinder on the planet and kinder to people. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. That presents a challenge for Depop. Listings also aren't required to look overly professional, which makes the Vinted app better suited for casual sellers who want to clear their inventory. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Depop is a peer-to-peer social shopping app. Depop - buy, sell, discover unique fashion Log in Menswear Womenswear Jewellery Beauty More Brands Top searches Find your style Shop the biggest brands you know and love. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. Here are eight brands that have collaborated with Depop to creatively reach young shoppers as they're shopping secondhand: Papa John's Food brands have been making their own merch to connect with young consumers for quite some time, and Papa John's has put their own spin on the marketing trend. This type of service is called Freight Forwarding. ", Rachel Glaser, Etsy's CFO, commented, "We've admired Depop for a while, and are excited to have now reached an agreement to purchase this fantastic business - a company we believe is still in the early innings of its growth opportunity. Date of release is date of access.Figures have been rounded. To download the Depop mobile app, go to Google Play and click download. With a background in economics and now e-business, she has joined Dollarbreak to share her experience, to help individuals make sound financial decisions revolving around budgeting, spending, money making and investing. Please read rules before posting. Thats now the slogan of the brand I work with a lot of queer people, its just kind of asking them how they want to show up in the world. Alternatives to Depop. The app is also meant for buyers looking for items they can buy. That way youll receive all of your items together instead of one at a time. Depop Summary. With over 26m users in more than 150 countries, Depop is the place for anyone looking to celebrate style on their terms and keeping millions of items of clothing in rotation. Please read the full Terms of use and Privacy Policy. Disclosure. Which one is better, though? The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. As of March 31, 2021, Etsy had approximately $2.0 billion in total liquidity consisting of $1.8B in cash, cash equivalents and short and long term investments on its balance sheet and an undrawn $200 million revolving credit facility. Decluttr is an online app that allows you to sell your used media. Bahrain. Depop's world-class management team and employees have done a fantastic job nurturing this community and driving organic, authentic growth in a way that aligns well with Etsy's DNA and mission of Keeping Commerce Human. Forward-looking statements include all statements that are not historical facts. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. This presentation contains forward-looking statements within the meaning of the federal securities laws. For Gen Z, the trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers.
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