While no seller likes to pay fees, they are integral to online selling. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. [7] Depop was the official app sponsor of the 2016 Vans Warped Tour. It's easy to get started - just create an account to start selling. Please create an employee account to be able to mark statistics as favorites. BROOKLYN, NY 11201 United States. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. It's also recommended to refresh and bump your listings for them to stay at the top of the search. To answer that, we must take a closer look at the two. 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. 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. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. Sign up to our newsletter for a truly global perspective on the fashion industry. We want to hear from you. E-commerce firm Etsy announced Wednesday that it is buying the secondhand fashion app Depop for $1.62 billion. Forward-looking statements include all statements that are not historical facts. The website was launched in 2011 as a social network for PIG magazine readers wanting to buy featured items. 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. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. 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. Sr. Director of Investor Relations, Patricia Cruz You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Learn more about how Statista can support your business. New risks emerge from time to time. According to positive reviewers, Depop allowed them to start their small business. Etsy has sufficient available liquidity to fund the acquisition. [16] Celebrities have resold their own items on Depop, with some donating proceeds to charitable causes. Adwoa Owusu-Darko (@minisworld) even runs a mentorship business, teaching others how to mirror her Depop success. 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. ", 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.". In the post-pandemic era, music and entertainment experiences that go beyond buying and selling will be much-needed by Gen Z, he says. 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. ", 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. And forget all about contacting their support. Depop is powered by a team of around 400 people, dedicated to our mission of fashion for a better future. Y, 2019. If you look around online, youll find a bunch of companies in the U.S. offering physical United States addresses to customers located overseas. In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. How to sell. As Depop, which has 219 employees, struggles to police millions of users across multiple continents, the start-up is reckoning with dangers facing its young users that have plagued the internet since the early 1990s. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. So, when you want to order restricted items from the Depop store, you simply enter the address MyUS provided and get your packages shipped there. Forward-looking statements represent our beliefs and assumptions only as of the date hereof. Depop boasts approximately 30 million registered users across 150 countries. Forward-looking statements include statements related to our potential addressable market,the potential benefits of the acquisition of Depop, expected impact of the acquisition of Depop on Etsy's future financial performance and the potential impact on Etsy's consolidated financial results, the anticipated timing of the closing of the acquisition of Depop, the anticipated impact of applying Etsy's expertise to Depop's business and the potential of Depop's business. 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. Get this delivered to your inbox, and more info about our products and services. Depop is headquartered in London, England and Los Angeles, California. [13], Most of the items sold on Depop are used, vintage, and repurposed pieces of clothing. 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. This button displays the currently selected search type. The company will send a six-digit code that you can use to verify your account. by Jerret West, CVP Gaming Marketing, Xbox Feb 28, 2023 @ 12:01am. You can use it to browse listings by your neighbours and local shops with a surplus of food or other products. 147. The Company's primary marketplace, Etsy . Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. While creating a Depop account, your phone number will be required. Weve been a long time customer of MyUS, and weve never had any issues with their service. 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. I agree to receive your newsletter. 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. To receive packages from the United States, youre going to need to have an address based there. Depop reports having over 30 million registered users in over 150 countries. 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 is all about community - it's the buyers and sellers who use Depop who make it such a great place. . Credit Suisse served as exclusive financial advisor to Depop and Weil, Gotshal & Manges LLP served as its legal advisor. Countries. Etsy, Inc. (Etsy) operates two-sided online marketplaces that connect people and buyers, and sellers around the world. You can unsubscribe anytime. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. [5] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures. 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. . Phones,laptops,wearables,Tablets,video games, Electronic, fashion,health, and beauty products, No limit to the type of products you can sell. Ebay has a working international search so sellers aren't forced to do it, on depop you have to change your location manually to see listings from other countries. Once you make a sale, Depop will send the money to the PayPal account that youve already linked to your account. Shop now Sell your way Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. To receive the Vogue Business newsletter, sign up here. don't give up! In November 2019, Business of Fashion reported that users within the Depop app were receiving sexually suggestive messages.[23]. Find what you are looking for, negotiate with the seller through the apps inbuilt messenger. We're a community that inspires and connects our users." <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . 4 locations detected. [5] Depop expanded and opened additional offices in Milan and New York City. Both platforms are dominant forces, connecting 21 and 26 million users worldwide, respectively. The company is headquartered in London, with offices in Manchester, New York, Los Angeles and Sydney. 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. With over 26 million 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. Depop payments are transferred directly to your PayPal account, and no intermediary is involved in handling transactions. A 2020 Hulu study found 75 per cent of Gen Z respondents rejected easy categorisation of their race, gender or sexuality, while 60 per cent felt their identity was linked to a broad mix of factors, including race, culture and language. Depop and Paypal have been accused of collectively deceiving users into using their preferred private shipping partner, Evri, previously known as Hermes, a courier firm marred by allegations that its drivers mishandle parcels. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. . We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". 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 Listings also aren't required to look overly professional, which makes the Vinted app better suited for casual sellers who want to clear their inventory. 26M+ registered users over 150 countries. A Division of NBCUniversal. This partly refers to self-identity. This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. 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. Please do not hesitate to contact me. 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 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. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. 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. 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. I am currently studying towards my MA in Strategic Fashion Marketing at the University of the Arts London: London College of Fashion. Depop is a peer-to-peer social e-commerce company based in London, with additional offices in Manchester, Milan and New York City. Ship. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. As covered, Vinted connects 21 million users worldwide, operating in 15 countries. The app has over 10 million users and is available in over 100 countries. If you have several packages, MyUS can bundle the packages into one order. Poshmark is best known for women's fashion, trendy brands, and higher-end clothing and accessories. Like Depop, Decluttr is free to download and use. Date of release is date of access.Figures have been rounded. Weve talked about fluidity as much more than gender for some time at Depop, says chief brand officer Peter Semple. And then I still do a few [dance] teaching jobs and dance performance jobs on the side. Also, as a Depop seller, you're responsible for contacting a buyer when something's wrong with the order. 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. --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. As of today, Vinted is available in 15 countries. eBay is one of the most popular platforms that allows you to buy and sell goods and services like electronics, clothing, and more. r/Depop W for me today after 10 incompetent depop support representatives finally got someone to review my account suspension. 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. Now imagine if someone came through and bought a pair of pants for $12 . Vinted and Depop have different payment policies. The first difference is the market available. This transaction is an ideal fit with Etsy's marketplace M&A criteria: Aligns with Etsy mission, strategy and values: Depop shares Etsy's DNA, with a parallel growth strategy that highlights sellers' unique merchandise by improving search and discovery, driving human connections, and building marketplace trust. Shares our two-sided marketplace business model: Depop is a peer-to-peer marketplace with similar capital-light operating model and financial characteristics. 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. People want the opportunity to buy and sell, but also they want this inspirational layer and entertainment through their experiences.. ". [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Also, while Vinted focuses mainly on the European market, Depop is much more popular in the United States. Its important to have cultural fluidity, she says. Use Ask Statista Research Service. The freight forwarder accepts the package on your behalf. Ganni, Patagonia and Reformation join pilot to decarbonise fashion, US retailers prepare for new normal in 2023 after rocky year, Chanel names Whitney Peak as new face of Coco Mademoiselle, The Long View by Vogue Business: Gen Zs power will reshape luxury, Post-pandemic playbook: What Gen Z want from physical retail, Fluidity, glamour and pop culture: The top trends of 2021, Enter your email to receive editorial updates, special offers and breaking news alerts from, From TikTok to Depop: Fashions new trend funnel. Depop is a peer-to-peer social shopping app. They come to Depop for the clothes, but stay for the culture. Fluidity extends beyond gender identity. The app is currently available only in European countries, but it's expected to soon be available in the US too. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. 16.6M+ items are available for sale on Depop. You can sign up for additional alert options at any time. 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 Company operates through four segments: Etsy, Reverb, Depop, and Elo7. When expanded it provides a list of search options that will switch the search inputs to match the current selection. But why Depop? Etsy is buying secondhand fashion app Depop for $1.62 billion in a deal primarily consisting of cash.