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Unlike Depop sellers, Vinted sellers don't pay any fees. Got a confidential news tip? What are the Other Ways to Make Money on Depop? Depop seller Adwoa Owusu-Darko has run her brand Mini's World (@minisworld) since 2016. 16.6M+ items are available for sale on Depop. $1 Billion made by the Depop community to date. An overwhelming 90 per cent of its active users are under the age of 25. [5] Depop expanded and opened additional offices in Milan and New York City. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. In other words, Depop is basically Instagram, but with more transparency about the fact that it's selling you stuff. Register in seconds and access exclusive features. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. The buyer pays shipping costs and a small buyer protection fee when buying via Vinted. In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. You can only download this statistic as a Premium user. Statista. ", "Is Depop being gentrified? You have successfully joined our subscriber list. BROOKLYN, NY 11201 United States. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Etsy believes Depop has a highly differentiated position in the fast-growing resale space: Josh Silverman, Etsy, Inc. CEO, commented, "We are simply thrilled to be adding Depopwhat we believe to be the resale home for Gen Z consumersto the Etsy family. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. don't give up! 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. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash. It also gives the online marketplace a bigger footprint in fashion resale. On this Wikipedia the language links are at the top of the page across from the article title. That leads us to the question, which of these two reselling platforms is better? 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. You can also email them at support@depop.com. 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. The Depop plan sets out a series of targets to hit by the end of 2021. Compare Depop alternatives for your business or organization using the curated list below. Leading fashion e-commerce companies worldwide 2022, by market cap, EV/EBITDA of leading fashion e-commerce companies worldwide 2021-2023, Global consumers reasons for returning clothes bought online 2021, Main online impulse purchases worldwide 2022, by gender. In 2021, Depop was acquired by Etsy for $1.6 billion. . 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. 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. It provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms. 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. The number of app users in the United Kingdom went from. Create an account to follow your favorite communities and start taking part in conversations. Depop is a peer-to-peer social shopping app. Data is a real-time snapshot *Data is delayed at least 15 minutes. As of today, Vinted is available in 15 countries. 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. To receive the Vogue Business newsletter, sign up here. Vinted also works as an intermediary between sellers and buyers, helping resolve issues. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. A sub for discussing all things Depop. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 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. Depop's mission statement is "to change the way people buy, sell and think about fashion." Is Depop second hand? Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. You can unsubscribe anytime. ", 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. Those interested in submitting questions during the conference call can do so by using the Q&A chat window, which will be available during the webcast. Depop is a reliable website that allows you to buy and sell items. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. It does come with fees and higher shipping costs. 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. 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 BROOKLYN, N.Y., June 2, 2021 /PRNewswire/ --Etsy, Inc. (NASDAQ: ETSY), 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 Depop, a privately-held, community-led, and purpose-driven marketplace for unique fashion for $1.625 billion consisting primarily of cash, 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. It is largely targeted at Gen Z shoppers Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. 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. You can change the interval in the system settings. $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. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. 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. . 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. Depop should know. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. If y'all remember I posted how I got banned for hashtags that were FINE. These are called 'Shop Policies,' stating whether you accept returns as a seller. Type Subsidiary . Depop is not available in some countries from summer (I cant remember exact month when this happened). Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Algeria. 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. "Etsy acquires clothing resale platform Depop for $1.6 billion", "Gen Z Designers Made It Big on This App. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. Airnow. Sr. Director of Investor Relations, Patricia Cruz