EBay Buys Fashion Marketplace Depop, Reports Robust Results (1)

EBay Inc. agreed to buy Depop for about $1.2 billion in an effort to attract younger shoppers and stand out in an increasingly cluttered e-commerce market.

EBay is acquiring the secondhand marketplace from Etsy Inc., which bought Depop in 2021 for $1.6 billion.

Depop, which eBay plans to continue to operate as a separate brand, has about 7 million buyers, 90% of whom are younger than 34, Chief Executive Officer Jamie Iannone said Wednesday in an interview. The acquisition will complement eBay’s fashion business, which generates about $10 billion in annual gross merchandise value, he said.

“The acquisition will really ...