Y, 2019. 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. While some users complained of poor customer service, Depop can help you make extra money online. As a Premium user you get access to background information and details about the release of this statistic. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. While creating a Depop account, your phone number will be required. Countries. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Depop should know. Click here to view 60+ Websites to Sell Stuff. It does come with fees and higher shipping costs. You can sign up for additional alert options at any time. Pop-Tarts x Depop is Here For Fashion and Food Fans Craving Unique In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. [10] In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash, making it Etsy's most expensive acquisition, but that Depop would continue operate as a standalone brand independent from Etsy. But why Depop? In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. my buyer. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Do NOT buy from GB via Depop if you live in the EU. The platform's "Explore" page features items picked out by Depop staff. Etsy has sufficient available liquidity to fund the acquisition. This partly refers to self-identity. As for Vinted, they have a buyer's protection feature. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. 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. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. Dont expect easy answers. Depop was founded in 2011 and has over 26 million registered users in more than 150 countries. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. 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. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Airnow. ", She added: "Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. Now They're Graduating", "Artefact In conversation with | Depop founder Simon Beckerman", "TechTalk con Simon Beckerman, Riccardo Donadon e Paolo Barberis su Depop, la startup diventata unicorno", "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market", "The Entrepreneur: Runar Reistrup, Depop", "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users", "Etsy Buys Depop, Fashion Resale Site Popular With Gen Z, for $1.6 Billion", "Etsy is buying the fashion resale app Depop for $1.6 billion", "Etsy is acquiring UK-based social selling site Depop for $1.625B in a mostly cash deal", "All Those Millennials Can't Be Wrong: Why Depop Just Might Change the Way You Shop", "Why Teens Are Selling Clothes Out of Their Closets", "Etsy targets Gen Z shoppers with $1.6 billion Depop acquisition", "9 Celebs With Depop: The Millennial Thrift Shop", "United States B2C Ecommerce Market Report 2022: Market is Expected to Grow by 11.80% to Reach $1,574.5 Billion in 2022 - Forecasts to 2026", "Depop Is the New Instagram but Not in a Good Way", "Depop: Can pre-loved clothes make fast fashion sustainable? These are called 'Shop Policies,' stating whether you accept returns as a seller. With 4 million active buyers and 2 million . Please do not hesitate to contact me. This type of service is called Freight Forwarding. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. Unfortunately, Depop doesnt ship directly to Europe. Get this delivered to your inbox, and more info about our products and services. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. Contact Data CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For . Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. 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. In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. Can I buy and sell on Poshmark if I'm not in the United States? The only pricey item I've found is a pantsuit that cost around $20. so i am from Algeria and i started selling on depop from 2017 but recently some friends wanted to open a depop account they couldn't because the don't receive the confirmation using phone number and i looked for the app on play store and it doesn't show. Young people buy clothes online - level 3 - News in Levels You can unsubscribe anytime. 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. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. The transaction is currently expected to close during the third quarter of 2021, subject to satisfaction of customary closing conditions, including antitrust review in the United States and the United Kingdom. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. Depop users who opt for using Royal Mail are penalised by being forced to pay Depop sales fees out of pocket and wait up to one month to receive their earnings. 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. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? Etsy to acquire global fashion resale marketplace Depop In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). We're a community that inspires and connects our users." Platforms should cater for all levels of buyer and seller, says Depops Semple. Make sure your clothing is the focal point of the picture by keeping the . Depop: Can pre-loved clothes make fast fashion sustainable? With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. MyUS is one of the best freight forwarders available and its our favorite. ", 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.". This is a fluid generation defying categorisation in every sense, Levato says. 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. 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. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. trend cycle continues to quicken, posing a challenge for fashion brand marketers seeking to connect with younger consumers. Etsy will host a live webcast conference call to discuss this acquisition at 8:30 a.m. Eastern Time today, which will be live-streamed via our Investor Relations website (investors.etsy.com) under the Events section. Enter your email to receive editorial updates, special offers and breaking news alerts from Vogue Business. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Alternatives to Depop. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Please read the full Terms of use and Privacy Policy. As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. Over 3 million products sold in 12 months with a year limited warranty, Sell smartphones, tablets, laptops books, watches, video games and Lego, Get a free instant item valuation, ship your item for free and get paid, No fees for sellers buyers pay no fees up $50 items. Expands our TAM in a large and fast-growing market, Well positioned to benefit from Etsy's expertise to, http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Abigail Cooper - Seller - Depop | LinkedIn 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. Depop Revenue and Usage Statistics (2023) - Business of Apps Following the close of this transaction, Etsy Inc. will operate three highly differentiated, non-commoditized and loved ecommerce brands: Etsy, Reverb, and Depop. Facts and figures | Depop Newsroom Hadiyah Hussain is studying at Central Saint Martins in London alongside her Depop career. Enter your username, password, and country, Connect your Depop account to your PayPal address, No limit to to the type of products you can sell, 2 days to ship the item after getting paid, High user traffic over 187 million users, Promote your listing from as little as 1%. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. To receive packages from the United States, youre going to need to have an address based there. Compare Depop alternatives for your business or organization using the curated list below. I think because a lot of my customers come from communities where fashion hadnt really considered them, they kind of gravitate to everything, he says. 2023 CNBC LLC. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. There are plenty of resources available to help you cleared up any questions you may have. Selling on Poshmark vs. Selling on Depop - Vendoo [4] Its headquarters were moved to London in 2012. 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. Create Web Version and Android iOS App Similar Depop Second-hand clothing The 35 Best Student Apps You Shouldn't Live Without - CareerAddict Goldman Sachs & Co. LLC served as exclusive financial advisor to Etsy, Deloitte as due diligence advisors, and Fenwick & West LLP and Allen & Overy LLP served as Etsy's legal advisors. You need at least a Starter Account to use this feature. In some cases, forward-looking statements can be identified by terms such as anticipate, believe, could, enable, estimate, expect, goal, intend, may, outlook, plan, potential, target, will, or similar expressions and derivative forms and/or the negatives of those words. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. It also gives the online marketplace a bigger footprint in fashion resale. Up to 140,000 new listings every day. Depop | Buy & Sell Clothing 12+ Resale Marketplace for Clothes Depop Ltd #60 in Shopping 4.8 399.1K Ratings Free iPhone Screenshots Buy. 12.9% of the sale price or lower, plus $0.30 per order. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. don't give up! Use Ask Statista Research Service. Essentially, the more you engage, be it by liking items, listing products, following other users, etc., the more sales you're likely to generate. Others also described the platform as an easy-to-use selling platform. To make sure everything arrives in one clean piece, pack your items well; Keep your buyer informed. Depop - buy, sell, discover unique fashion It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. You can change the interval in the system settings. Its user interface is modeled after that of Instagram, and users can sell items by posting pictures of them to their profiles, along with descriptions, hashtags, and prices. While no seller likes to pay fees, they are integral to online selling. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. ", "Is Depop being gentrified? 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. [15], Depop has garnered criticism from users and critics due to a number of its sellers buying clothes from thrift shops and reselling them for higher prices than they were purchased for. ". ", Airnow, Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) Statista, https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/ (last visited March 04, 2023), Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions) [Graph], Airnow, November 8, 2021.