Etsy has sufficient available liquidity to fund the acquisition. Depop boasts approximately 30 million registered users across 150 countries. 90% of Depop's active users are under the age of 26.Depop. Business Summary. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, and subsequent reports that we file with the Securities and Exchange Commission. Depop users who opt for using Royal Mail are penalised by being forced to pay Depop sales fees out of pocket and wait up to one month to receive their earnings. Access to this and all other statistics on 80,000 topics from, Show sources information Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. Overview. Statista. While creating a Depop account, your phone number will be required. These companies provide addresses for this specific use case, and theyll even help ship your packages directly to you. Chart. This type of service is called Freight Forwarding. Depop | Buy & Sell Clothing on the App Store This app is available only on the App Store for iPhone. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Comments, questions or feedback? With 4 million active buyers and 2 million active sellers in 2020, we believe Depop's cohort behavior is particularly impressive: for example, in 2020, 75% of GMS was from existing cohorts; ~75% of sellers were also buyers; and, on average, sellers sold approximately 10 items and buyers bought approximately 6 items. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. Depop profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. <br><br>In the year between finishing my undergraduate degree and beginning my postgraduate studies, I completed as many contract internship . An overwhelming 90 per cent of its active users are under the age of 25. Depop will remain headquartered in London, Etsy said, operating as a standalone business run by current management. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. You can only download this statistic as a Premium user. With 4 million active buyers and 2 million . As a part of our mission to expand the joy and community of gaming to every player in the world, we're excited to announce we're bringing a preview of PC Game Pass to 40 new countries for the first time ever, comprising: Albania. 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. The Company operates through four segments: Etsy, Reverb, Depop, and Elo7. Sr. Director of Investor Relations, Patricia Cruz From crypto to clothes: Why Gen Z are investors now, From Essentials to Adidas: Whats next for Fear of God. Depop's world-class management team and employees have done a fantastic job nurturing this community and driving organic, authentic growth in a way that aligns well with Etsy's DNA and mission of Keeping Commerce Human. A copy of the presentation that will be covered on the conference call will also be posted to our website. In, Airnow. We estimate that one in four 15-24-year old's in Australia are on Depop," says Aria Wigneswaran, Country Manager Australia, Depop.. Thats now the slogan of the brand I work with a lot of queer people, its just kind of asking them how they want to show up in the world. Depop also requires sellers to make their offers look more professional, which is why it's better suited for small businesses. It caters to a variety of different fashion pieces such as designer, vintage, and streetwear. ", "Is Depop being gentrified? Sellers can set up their Depop shop and quickly list . , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. however, despite it being 3-4 days since delivery (on the transaction info it actually says i should have gotten the money within 1 day of delivery), it still says my payment is on hold. Ship. 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. Depop has evolved to become the community-powered fashion marketplace to buy and sell unique fashion, with approximately 30 million registered users in more than 150 countries. 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. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. You need at least a Starter Account to use this feature. 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. 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. Decide your price. Depop is a legitimate app that allows sellers and buyers to trade their items hence not a scam. Having a rating of 1.7 on Reviews.io, 3.3 on Trustpilot, and 1.7 on Sitejabber, the website has attracted both positive and negative reviews. 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. Founded in the U.K. in 2011, Depop lets people buy and sell used clothes through its online marketplace. Growing up in a hyper-connected world, Gen Z is more vulnerable to macro level uncertainties, the report finds. And forget all about contacting their support. It's nothing else than a standard return policy where buyers can return items that might be damaged, missing, or cancelled. These are called 'Shop Policies,' stating whether you accept returns as a seller. What distinguishes Depop from Vinted is its emphasis on social features, working as a social network app in addition to being a reselling marketplace. 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 allows its sellers to include rules buyers can see when scrolling through their posts. The Company's primary marketplace, Etsy . The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. To answer that, we must take a closer look at the two. It's a bit more buyer-friendly, encouraging users to make quick transactions and enabling them that by intuitive and straightforward service. my buyer. 16.6M+ items are available for sale on Depop. 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.<br>The company was founded . Airnow. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. . For sellers, we offer a range of tools and services that address key business needs. Its important to have cultural fluidity, she says. As you can see, while looking practically identical at first glance, Depop and Vinted are two sides of the same coin. Algeria. 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. Have to complete the purchase to update your shipping address - Depop Founded in 2011, Depop has attracted mainly younger users thanks to its social media savvy. . Get Potential buyers to make bids for the item and agree on the final price. 147. Depop is a place for anyone to discover and . Register in seconds and access exclusive features. Depop is a peer-to-peer social shopping app based in London that first launched in 2011. Moreover, we operate in a very competitive and rapidly changing environment. BROOKLYN, N.Y., June 2, 2021 /PRNewswire/ --Etsy, Inc. (NASDAQ: ETSY), 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 Depop, a privately-held, community-led, and purpose-driven marketplace for unique fashion for $1.625 billion consisting primarily of cash, 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. 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. uniexpressgt.com participates in various affiliate programs, and we sometimes get a commission through purchases made through our links. A sub for discussing all things Depop. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. You can then. Ticker: ETSY. Depop promises not to share your details with third parties. Swappa is a peer-to-peer marketplace that allows you to sell and buy used electronics. Dont worry, youre not going to need to splash out on a property, there is a much cheaper solution. Both apps implement slightly different structures, with Depop having a more 'social' feel, with buyers scrolling through listings like they were using Instagram or Facebook. But their interest in secondhand clothes also has significance beyond save-the-planet instincts. Today, Depop is a place where millions of users come to celebrate their style and discover culture. If you are an admin, please authenticate by logging in again. I agree to receive your newsletter. With its app available on iOS and Android, Depop promises to be an online shopping site for most items, including designer, preloved, vintage, sneakers, and streetwear. "Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale," Silverman said in a statement Wednesday. To receive the Vogue Business newsletter, sign up here. 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.
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