We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. Unfortunately, Depop doesnt ship directly to Europe. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. The freight forwarder accepts the package on your behalf. Please read the full Terms of use and Privacy Policy. The platform's "Explore" page features items picked out by Depop staff. Gen Z fluidity extends to the mix of digital and physical experiences, with physical still considered very important even for a generation of digital natives. 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. We disclaim any obligation to update forward-looking statements. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. 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. Following the closing of the transaction, currently anticipated to occur during the third quarter of 2021, Depop will continue to be headquartered in London, England and operate as a standalone marketplace run by its existing leadership team. Ship. Alternatives to Depop. Get paid for the item and start the shipping process. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. This presentation contains forward-looking statements within the meaning of the federal securities laws. 90% of Depop's active users are under the age of 26.Depop. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Does the Depop online store ship items overseas to Europe? Discover independent brands making waves and the creators behind them. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. 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. 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. Etsy expects to share more information in conjunction with its second quarter 2021 financial results. The company was founded in 2011 and is headquartered in London . [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. VP of Investor Relations, Jessica Schmidt Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. In 2012, Depops headquarters were moved to London, and the company opened additional offices in Milan and New York City. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. These risks and uncertainties include, among others, the possibility that the conditions to the closing of the acquisition of Depop may not be satisfied or waived or that other events may cause the acquisition to not be completed, the potential impact to the business of Depop or Depop's relationships with its marketplace community due to the announcement of the acquisition, Etsy's ability to successfully integrate the acquisition and execute on its business plan and 'house of brands' operating model, and general economic conditions, many of which are beyond Etsy's control, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and subsequent reports that we file with the Securities and Exchange Commission. To download the Depop mobile app, go to Google Play and click download. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. When it comes to newness, this generation has a new lens through which they see new.. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. After submitting your request, you will receive an activation email to the requested email address. I always say we owe ourselves authenticity. It is largely targeted at Gen Z shoppers You must click the activation link in order to complete your subscription. 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. . We want to hear from you. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. A lot of people in my generation have that set-up income from a few little baskets, he says. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. 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. You have successfully joined our subscriber list. The brand registered unprecedented growth in May and July 2020, with. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. Compare Depop alternatives for your business or organization using the curated list below. Its a fairly common question we often see asked, and the answer isnt all that clear. Therefore, as a seller on Vinted, the buyers will expect you to offer a lower price for your products, as they are the ones covering all the fees. 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 should know. ". Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. "Australia is Depop's third largest market. Vinted is more transactional. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Subscribe to receive weekly Side Hustle recommendations. It is one of the few success stories of the dot-com bubble, which . 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. As in most cases, it depends. Use Ask Statista Research Service. [Online]. Like Depop, Swappa pays via PayPal. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. The only thing that I would change are the "plus . (November 8, 2021). 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. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. If you think about selling your old clothes online, two reselling apps immediately spring to mind - Vinted and Depop. While some users complained of poor customer service, Depop can help you make extra money online. In 2021, Depop was acquired by Etsy for $1.6 billion. [6] Most active users of Depop are located in the United Kingdom, Australia, United States and Italy. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Here in the United States, it doesn't. The vintage items are also great since fashion often brings back past trends from time to time. I agree to receive your newsletter. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. my buyer. View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. 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? Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. How do you do the magic of taking people on the algorithmically understood journey of things they might be looking for, but then continually inject inspiration and surprise?. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. When you click on 23-year-old Lyuu's Depop shop, you'll see a collection of pink, black, red and white gothic and vintage clothing from a designer Dior bag that costs nearly two grand to an . Our company was founded in 2005 and is headquartered in Brooklyn, New York. Like Depop, eBay charges a commission of 10% on all the items sold. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. According to positive reviewers, Depop allowed them to start their small business. ", 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. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Get this delivered to your inbox, and more info about our products and services. Depop is a place for anyone to discover and . Whether they find something online and then go to an in-store event, Gen Z want complete fluidity between the physical and digital world of brands, even if they interact with the brand through a third-party retailer, says Bains Federica Levato. Available on Android and iOS (free) Another great app for the starving student! In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. The first difference is the market available. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. In an age of financial uncertainty, young people are taking finances into their own hands. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. Up to 140,000 new listings every day. Ticker: ETSY. You can also move the money to your bank account once its transferred to PayPal. When we do drops, its really hard to kind of nail down an aesthetic.. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. The Depop plan sets out a series of targets to hit by the end of 2021. As for withdrawal methods, eBay offers PayPal and direct deposit compared to Depop, which has PayPal.While Depop is filled with people selling Y2K and vintage items, eBay is better for items that are rare or hard to find. Forward-looking statements include statements relating to our financial guidance for the first quarter of 2023 and key factors impacting our guidance; the impact of our Right to Win and other growth strategies, including our strategies for integrating our House of Brands marketplaces, marketing and product initiatives, and investments and other levers of growth on our business and operating results, including future gross merchandise sales (GMS) and revenue growth; our ability to attract, engage, and retain buyers and sellers; the global macroeconomic uncertainty and volatility, including inflation and rising interest rates; the status and impact of the macroeconomic headwinds and tailwinds, including additional or unforeseen impacts that COVID-19 and general market, political, economic, and business conditions may have on our business, strategy, operating results, key metrics, financial condition, profitability, and cash flows; our opportunity to reach new buyers; and uncertainty regarding and changes in overall levels of consumer spending and e-commerce generally. Since Depop works more like a social network platform, it allows sellers to reach more users with their listings. Press question mark to learn the rest of the keyboard shortcuts. . 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. Phone: (718) 880-3660. p:718 880-3660. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. It does come with fees and higher shipping costs. Depop is a social shopping app that has been described as a mix of eBay and Instagram. [11][12], Depop is a social e-commerce platform where users can buy and resell their items. SourceForge ranks the best alternatives to Depop in 2022. Others also described the platform as an easy-to-use selling platform. . Retailers and brands might consider how they can inspire Gen Z to be entrepreneurs. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. More so, what you earn on Swappa depends on the item you are selling and its condition. Expands our TAM in a large and fast-growing market, category or geography: Depop is expected to extend Etsy's market opportunity in the high frequency apparel sector, specifically in the fast-growing resale space. It allows users to buy and sell items, most of which are used . [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Sign up for free newsletters and get more CNBC delivered to your inbox. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. 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. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. To receive packages from the United States, youre going to need to have an address based there. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. 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 Some 75 per cent of Depop sellers also buy from the platform, an ecosystem that allows them to straddle the worlds of the consumer and of business however they wish, says Semple. 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. With roughly 30 million registered users across nearly 150 countries,. If you are an admin, please authenticate by logging in again. Skepta Nike Air Max Plus, SK Air Blue Tailwind Size: UK 8.5 Condition / info: 10/10 Condition, Worn A Handful Of Times perfect condition PLEASE READ International Shipping is available for all countries UK 48 Tracked Royal Mail Shipping to all UK orders Items are shipped within 48 hours Guaranteed All of our items are second hand unless stated otherwise. You can also email them at support@depop.com. $1 Billion made by the Depop community to date. Which one is better, though? However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. The first difference is the market available. 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. Etsy has sufficient available liquidity to fund the acquisition. "We see significant opportunities for shared expertise and growth synergies across what will now be a tremendous 'house of brands' portfolio of individually distinct, and very special, ecommerce brands. Forward-looking statements include all statements that are not historical facts. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, and subsequent reports that we file with the Securities and Exchange Commission. Decide your price. The stock was up about 6.7% Wednesday afternoon. Founded in 2011, Depop has its headquarters in London and offices in Manchester, New York, Los Angeles and Sydney with 400 employees dedicated to helping build a new fashion system that's kinder. Depop also pays via PayPal compared to Decluttr, which uses Direct deposit, PayPal, and Check. [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. That presents a challenge for Depop. 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. For Semple, physical events remain hugely relevant. Date of release is date of access.Figures have been rounded. Selling on Depop and Vinted looks pretty similar, requiring sellers to engage in increasing sales. But why Depop? It really makes us think about, how do we serve these journeys? Both apps implement slightly different structures, with Depop having a more 'social' feel, with buyers scrolling through listings like they were using Instagram or Facebook. 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. You can unsubscribe at any time. Users can pay for items using PayPal. However, these can be dealt with by using Packlink to find the cheapest parcel delivery service. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. The company has attracted a predominantly younger audience thanks to its social media savvy and messaging on environmental and ethical shopping. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. It was established in 2011 by Simon Bekerman and now has over 15 million . 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, Inc., which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, has signed a definitive agreement to acquire. Disclosure. We disclaim any obligation to update forward-looking statements, except as required by law. Poshmark is currently only available in the United States, Canada, Australia, India, and the United Kingdom. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. Both apps also make it very easy to post your items. It's easy to get started - just create an account to start selling. Prior to agreeing a sale to Etsy, Depop had raised a total of $105.6 million from investors including General Atlantic, Creandum, Balderton Capital, Octopus Ventures and Klarna CEO and co-founder Sebastian Siemiatkowski, according to data from Crunchbase. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. Depop is a popular second-hand fashion marketplace app with a global community of buyers and sellers. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. A copy of the presentation that will be covered on the conference call will also be posted to our website. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App.
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