DEPOP

Simon Beckerman, an Italian-British entrepreneur, originally built a social networking app called PIG (People In the Groove) — a magazine-style app. Users started trading clothes and accessories through the social features.

Beckerman saw the behavior and pivoted to build Depop as a dedicated fashion marketplace in 2011 in London. The app grew through grassroots adoption — Gen Z users loved the combination of social media aesthetics (curated profiles, follows, likes) with commerce.

By 2021, Depop had 30 million users and was sold to Etsy for $1.63 billion.

Depop is a peer-to-peer fashion marketplace — think eBay meets Instagram for secondhand clothing. Sellers create profiles, style and photograph items, and sell directly to buyers.

Depop takes a 10% fee on each sale. The app became wildly popular with Gen Z, who use it to buy vintage, thrift, and streetwear.

Depop was acquired by Etsy for $1.63 billion in 2021. Over 30 million registered users across 150+ countries.

Roughly 90% of users are under 26.

Depop Marketplace (peer-to-peer fashion), Depop Shipping (integrated logistics), Depop Payments (in-app payments), Brand Partnerships

Own Gen Z fashion resale. Depop positioned itself as the Instagram of thrift — selling is as much about self-expression as commerce.

Sellers curate their profiles like social media accounts. The strategy: make selling secondhand clothes feel creative and aspirational, not desperate.

Depop also expanded into brand partnerships (Nike, Adidas collaborating with Depop sellers) and new markets.

Monetization without alienating its community. Depop users are young, price-sensitive, and fiercely loyal to the platform's indie, anti-corporate vibe.

Raising fees or adding too many commercial features risks driving users to competitors like Vinted (which charges no selling fees). Post-Etsy acquisition, the challenge is growing revenue while preserving the community culture that made Depop special.

General Atlantic, HV Capital, Balderton Capital, Creandum