eBay Is Buying Depop — And It Might Be The Smartest Move In Recommerce Yet!

eBay has entered a decisive new chapter after announcing a definitive agreement to acquire Depop from Etsy for approximately $1.2 billion in cash, a move that underscores its accelerating momentum in consumer-to-consumer (C2C) commerce and fashion recommerce. The announcement comes on the heels of a strong fourth quarter, where gross merchandise volume (GMV) rose over 8% to $21.2 billion and full-year GMV reached nearly $80 billion, with U.S. growth approaching 10%. Management has emphasized that years of investment in focus categories, recommerce, AI-powered listing tools, and advertising have repositioned the platform for durable growth. Depop, a mobile-first circular fashion marketplace with roughly 7 million active buyers and 3 million active sellers, generated about $1 billion in gross merchandise sales in 2025 and posted nearly 60% year-over-year U.S. growth.