Etsy, the hand-made(ish) platform, has announced this week it's acquiring Depop for $1.6B. That's billion with a B for a marketplace I've never really heard of before.
So, what's Depop? A marketplace like Etsy, that's focused on second-hand clothes and targets young buyers and influencers.
Let's have a look at its downloads over the years:
Depop has grown a lot over the last few years, and much like other shopping apps, COVID gave it wings.
Since 2017, Depop saw 23.3M new downloads across the App Store and Google Play. Overall, most of those downloads, 20M, came from iPhone holders, according to our App Intelligence.
Depop has averaged a growth rate of around 50% year over year for the last three years and is only a few points lower than the same period last year, which makes sense considering it was peak season for at-home shopping.
Interesting: Etsy will let Depop operate as a separate entity and paid most of that hefty price in cash which means they really need to make inroads with younger shoppers who don't know of Etsy's existence.
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