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. Platforms should cater for all levels of buyer and seller, says Depops Semple. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. It has also only made headway in the Australia, Italy, the UK and US, with the last two countries responsible for about 70% of downloads in 2020 and 2021. Once the package is received, the freight forwarder will ship the package directly to you in Europe. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Job Backend Engineer (Martech) - Depop 4 locations detected. 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. Available everywhere. As people are given access to so many different types of inspiration, whether its peer-to-peer or the mix of influence you can get from each type of influential figure, each individual is fluid in their style, their self-expression., Hadiyah Hussain communicates her South Asian culture through her brand on Depop, which features screen-printed pieces for all genders and sizes. To use individual functions (e.g., mark statistics as favourites, set More so, what you earn on Swappa depends on the item you are selling and its condition. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. The platform is very similar to other online marketplaces like eBay, Facebook Marketplace, Mercari, or Poshmark. Our company was founded in 2005 and is headquartered in Brooklyn, New York. Both apps also target slightly different audiences. BROOKLYN, NY 11201 United States. A lot of people in my generation have that set-up income from a few little baskets, he says. The default refresh interval is a random number between 1 and 3 seconds. Aria says it's because Depop is about people, not just about the item being sold "We're not just a platform for people to buy and sell. The deal marks the biggest acquisition yet for Etsy, which went public on the New York Stock Exchange in 2015. Expands our TAM in a large and fast-growing market, Well positioned to benefit from Etsy's expertise to, http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Please read rules before posting. The platform only keeps your data as long as it needs it and encourages you not to share your personal information, like your phone number, address, or email address. 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, 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. Then I sent them this. View original content:http://www.prnewswire.com/news-releases/etsy-to-acquire-global-fashion-resale-marketplace-depop-301303695.html. Depop is not available in some countries from summer (I cant remember exact month when this happened). 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The network currently has more than 15 million users in 147 countries, skewed heavily towards those aged under 26, with plans to expand across Europe and Asia. Type Subsidiary . Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. You must click the activation link in order to complete your subscription. Depop: Can pre-loved clothes make fast fashion sustainable? The Depop social shopping app blends the aesthetic and social aspects of Instagram with the buy-and-sell format of eBay. Y, 2019. Depop is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. June 2, 2021. Today, Depop is a place where millions of users come to celebrate their style and discover culture. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. You can also email them at support@depop.com. Depop, on the other hand, while having a user base of over 26 million, is only available in 6 countries. Depop is a social shopping app that has been described as a mix of eBay and Instagram. They come to Depop for the clothes, but stay for the culture. As in most cases, it depends. Depop, on the other hand, is a better choice for a small business. 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. Depop is powered by young influencers like 20-year-old Moira Campos who is one of Depop's top sellers. I'm trying to figure out an alternative atm 10 Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. Compare Depop alternatives for your business or organization using the curated list below. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. MyUS is one of the best freight forwarders available and its our favorite. In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash. 26M+ registered users over 150 countries. It surveyed 2,176 Depop users from the UK, US and Australia and conducted individual interviews with a sample of Depop sellers, analysed alongside insights from Bain & Company. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . Its not so long ago that many people wouldnt have thought of themselves as potential resellers, he says. For Semple, physical events remain hugely relevant. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. 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. This presentation contains forward-looking statements within the meaning of the federal securities laws. Get the item and o rate your experience with the seller. Its a fairly common question we often see asked, and the answer isnt all that clear. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Depop. ", Etsy said the transaction consisted primarily of cash and was "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.". A replay of the video webcast will be available through the same link following the conference call starting at 10:30 a.m. Eastern Time today for at least three months thereafter. Hadiyah Hussain is studying at Central Saint Martins in London alongside her Depop career. Community Affiliates Manager, Depop Socialfixt Users can pay for items using PayPal. Register in seconds and access exclusive features. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". . Is Depop a Sustainable Way to Buy and Sell Clothes? - CIFAL Newcastle [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. Use Ask Statista Research Service. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. 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. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. $1 Billion made by the Depop community to date. 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. Vintage, streetwear, one-of-a-kind, Y2K are the biggest styles on Depop. Paypal withholds those Depop users funds from any items sold for a minimum of 21 days from the date of sale[citation needed]. Pay for the item, tell the seller where to ship it, and pay for it. As of 2021, Depop has over 30 million users, 90 percent of whom are under the age of 26. "To some degree, we have a closer relationship with Gen Z . I think for my generation it comes quite naturally Theres a lot more respect and open conversation., For Gen Z, the inspiration journey is never linear, Semple says. DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Prices for clothing range from $3-$15. 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 - Start Selling LocationsView all. But why Depop? It incorporates fewer categories and focuses more on a buyer experience, allowing users to make offers faster. Depop was founded in 2011 by entrepreneur Simon BeckermanDepop is a buy and sell app that allows you to sell items. The Dark Side of Depop | BoF - The Business of Fashion [17], As of 2021, Depop has over 21 million users, 90 percent of whom are under the age of 26. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. There are no boundaries anymore between commerce and connections, consumption and production, and even entertainment and entrepreneurship, says Federica Levato, a partner at Bain, who worked on the report. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. While Decluttr focuses on selling media stuff such as used tech and media such as CDs, DVDs, and Blu-rays, Depops primary focus is selling clothing, shoes, and other items. As a mobile app, it is available on iOS and Android platforms. 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. About Depop Our leadership Facts and figures. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. These risks and uncertainties include: (1) the level of demand for our services or products sold in our marketplaces and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) risks related to the COVID-19 pandemic; (4) the fluctuation of our quarterly operating results; (5) our failure to meet our publicly announced guidance or other expectations; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (13) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (14) our efforts to expand internationally; (15) our ability to successfully integrate and receive the expected benefits from the Depop and Elo7 acquisitions; (16) acquisitions that may prove unsuccessful or divert management attention; (17) regulation in the area of privacy and protection of user data; and (18) litigation and regulatory matters, including intellectual property claims. You then use this address for your deliveries, and theyll automatically forward them to your home country. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. [21] The platform has also been criticized by its users for picking predominantly thin models wearing straight size clothing to showcase on its Explore page, which some have described as sizeist.[22][19]. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. . The brand registered unprecedented growth in May and July 2020, with. Etsy CEO on how $1.6 billion deal for Depop could help the company grow. We love Depop's rapidly growing GMS and loyal and engaged customer base, excellent user engagement and unit economics, opportunities to expand value added seller services, clear path for geographic expansion, and highly scalable, 'capital light' operating model. Then you can access your favorite statistics via the star in the header. however, despite it being 3-4 days since delivery (on the transaction info it actually says i should have gotten the money within 1 day of delivery), it still says my payment is on hold. Here are eight brands that have collaborated with Depop to creatively reach young shoppers as they're shopping secondhand: Papa John's Food brands have been making their own merch to connect with young consumers for quite some time, and Papa John's has put their own spin on the marketing trend. Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. On paper, Depop and Vinted offer the exact same services, connecting second-hand clothing sellers with buyers. Learn more about how Statista can support your business. This button displays the currently selected search type. Abigail Cooper - Seller - Depop | LinkedIn Users can buy and sell clothing, accessories, and beauty products. Etsy has sufficient available liquidity to fund the acquisition. 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. As a Premium user you get access to background information and details about the release of this statistic. To receive the Vogue Business newsletter, sign up here. That way youll receive all of your items together instead of one at a time. "Monthly Active Users (Mau) of The Depop App in The United Kingdom (Uk) from January 2018 to October 2021 (in Millions). 12.9% of the sale price or lower, plus $0.30 per order. Sure, both platforms offer similar services, but their approach is different. Commercial Credit Report for Etsy Inc - Report Preview 147. In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. Bank of America reveals the winning market share gainers with more room to run, Goldman Sachs upgrades this internet of things stock which it sees surging 60%, JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. It allows sellers to reach a broader audience thanks to its social features and emphasises a more professional approach when creating posts. Swappa also focuses on used electronics compared to Depop, which deals in clothing, shoes, and other streetwear. 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. However, we have a pretty simple solution that gets around this restriction. Deb Wasser Sky warns: "Don't let your photo be more distracting than the product you're selling.". Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. Depop Review 2023 - Plans, Pros, Cons and Alternatives - DollarBreak r/Depop - What countries outside UK is Depop popular in? How is it 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'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. 16.6M+ items are available for sale on Depop. Over half of respondents said they buy secondhand to find one of a kind pieces, while 45 per cent use it to tap into trends. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. [9], In 2020, Depop's gross merchandise sales and revenue both more than doubled to $650 million and $70 million respectively. Unlike Depop sellers, Vinted sellers don't pay any fees. Get this delivered to your inbox, and more info about our products and services. As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Which one is better, though? Here in the United States, it doesn't. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." To some degree, we have a closer relationship with Gen Z than almost any other institution in the world at scale, says Depop chief brand officer Peter Semple. Depop should know. Got a confidential news tip? A Division of NBCUniversal. GET SERVICE INSTANTLY . Statista. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. Test out different poses. Place your item in a box or shipping envelope, available at office supply stores or the post office. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. Tom Evans says Depop has become his primary source of income. 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. 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 Launched in Lithuania in 2008, Vinted quickly expanded to 10 more countries, becoming an instant success among clothes reselling apps. It must've been cuz I mentioned the BBB. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. In the 2000's, eBay went on a spending spree that saw it taking ownership of PayPal, Skype and Stubhub, although it has since relinquished ownership of all three businesses. Accessed March 04, 2023. https://www.statista.com/statistics/1122928/depop-monthly-active-users-uk/, Airnow. As of March 31, 2021, Etsy had approximately $2.0 billion in total liquidity consisting of $1.8B in cash, cash equivalents and short and long term investments on its balance sheet and an undrawn $200 million revolving credit facility. The company will send a six-digit code that you can use to verify your account. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. Young people buy clothes online - level 3 - News in Levels Can I buy and sell on Poshmark if I'm not in the United States? With roughly 30 million registered users across nearly 150 countries,. Vinted and Depop have different payment policies. As for Vinted, they have a buyer's protection feature. Depop has around 30 million users in over 150 countries, the majority of whom are young people. Etsy expects to finalize the deal by the third quarter of 2021. "Australia is Depop's third largest market. 6) The app must also have an express courier function, home collection/delivery, users can do everything without leaving home. Create an account to follow your favorite communities and start taking part in conversations. Depop is a peer-to-peer social shopping app. Whatever you're into, find the item and the seller for you on Depop. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. With 4 million active buyers and 2 million . Depop's CEO Maria Raga said, "We're on an incredible journey building Depop into a place where the next generation comes to explore unique fashion and be part of a community that's changing the way we shop. i just wanted to ask if depop is not available in all countries