eBay, a global commerce platform that connects millions of buyers and sellers around the world, and Etsy, the global marketplace for unique and creative goods, have announced that they have entered into a definitive agreement under which eBay will acquire Depop, a community-powered circular fashion marketplace , for approximately $1.2 billion in cash, subject to certain purchase price adjustments.

Depop is a mobile-first, community-powered fashion marketplace experiencing strong momentum with annual gross merchandise sales (GMS) of approximately $1 billion in 2025, including nearly 60% year-over-year growth in the USA. 

eBay intends to fund the transaction with cash on hand. Etsy plans to utilise the proceeds for general corporate purposes, continued share repurchases and investment in its core marketplace.

The transaction, which has been unanimously approved by eBay’s and Etsy’s Board of Directors, is currently expected to close in the second quarter of 2026, subject to the satisfaction of certain closing conditions and receipt of required regulatory approvals.

Following the closing of the transaction, Depop is expected to retain its name, brand, platform, and complementary culture.

For more information, visit etsy.com.