eBay Completes $1.2B Purchase of Depop from Etsy

eBay closed its $1.2 billion acquisition of fashion resale marketplace Depop from Etsy on July 30, 2026. Etsy had bought Depop in 2021 for about $1.625 billion, making the sale a write-down of roughly $425 million on its original price. The deal gives eBay a Gen Z-skewing resale platform.

EBAY completed its $1.2 billion acquisition of fashion resale marketplace Depop on July 30, 2026, buying the platform from ETSY. The deal was announced in February 2026 and cleared regulators in the US, Australia, Germany, and the UK before closing.

The transaction is as much an Etsy story as an eBay one. Etsy acquired Depop in 2021 for roughly $1.625 billion, so the sale represents a write-down of about $425 million against its original purchase price and a retreat toward its core handmade and vintage marketplace. For Etsy the proceeds and the narrowed focus matter more than the loss booked on paper.

For eBay the logic is demographic. Depop's user base skews heavily toward Gen Z, a cohort eBay has struggled to reach through its core marketplace, and the platform sits in the fast-growing secondhand apparel category. eBay has been rebuilding around focused categories including sneakers, luxury handbags, and trading cards, and Depop extends that approach into fashion resale with an established community rather than a build-from-scratch effort.

What to watch: whether eBay keeps Depop as a standalone brand or migrates its inventory and payments infrastructure, how much of Depop's gross merchandise volume survives the ownership change, and whether the acquisition shows up in eBay's active buyer growth over the next several quarters.

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