Etsy Acquires Depop for $1.6 Billion
And in today’s mergers and acquisitions…no, we aren’t going to talk about the Ordinary for once! Instead let’s talk about the fact Etsy acquired Depop for a nice billion dollars and some change. I will readily admit I’ve purchased many different pieces of clothing on Etsy but Depop is the biggest pain in the ass to use.
Ok, so let me explain better…
Ya know how you go to TJ Maxx and you really have to dig around to find stuff. It drives me mental that TJ isn’t laid out like a traditional store with everything tidy and organized. It reminds me of a flea market. I love to vintage shop especially for antiques but digging around on racks of stuff at TJ drives me up one wall and down the other. That’s Depop for me. You’ll be searching for something unique and cool and your search results will come up with cheap Polo T-Shirts for $15.
I simply don’t get the joy out of Depop that I do from Etsy.
That being said, Etsy saw an opportunity and jumped on it as the secondary market is actually doing really well in the Gen Z demographic. There’s been quite a bit of interest in the second market. Vestiaire Collective received a $216 million investment and Vinted received a fresh round of investment made pre-money valuation rise to 3.5 billion euros.
Are you a Depop user?
Maybe Etsy’s influence will make Depop a better place to in the future!