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EBay's $1.2B Buy Aims to Appeal to Gen Z

Company looks to capture younger shoppers through fashion resale app Depop
Posted Feb 19, 2026 5:31 AM CST
EBay's $1.2B Buy Aims to Appeal to Gen Z
An EBay app logo is shown on a mobile phone, July 11, 2019.   (AP Photo/Wilfredo Lee, File)

EBay is writing a $1.2 billion check to get closer to Gen Z's closets. The company said Wednesday it's buying Depop, the secondhand fashion app with a largely under-34 user base, in an all-cash deal expected to close in the second quarter. CEO Jamie Iannone framed the move as a way to deepen eBay's fashion footprint and tap younger shoppers who favor resale apps over traditional marketplaces, per the Wall Street Journal. Depop, which Etsy bought for $1.63 billion in 2021, has about 7 million active buyers and 3 million active sellers; its US gross merchandise sales hit $1 billion in 2025, up nearly 60% from a year earlier.

Etsy says unloading Depop will let it refocus on its main marketplace. Depop, "one of the earlier entrants to the fashion-app resale market," has seen its value fall in recent years due to competition from other secondhand fashion apps including Vinted, reports the BBC. EBay plans to cross-list Depop items on its own site—similar to how it has integrated collectibles, now a key growth driver—and give Depop users access to its payments, shipping, and authenticity tools. Investors liked the news: Etsy shares jumped 15% in late trading, while eBay climbed 7% after also posting better-than-expected quarterly revenue. Revenue climbed 8% year over year to $11.1 billion, while sales rose 15% to $2.97 billion.

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