Type Subsidiary . In, Airnow. Ticker: ETSY. Who we are. statistic alerts) please log in with your personal account. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. The user base on Depop is also younger than on Vinted, which, in exchange, has a more international user base. Shares of Etsy have more than doubled in the last 12 months thanks to an e-commerce boom resulting from the coronavirus pandemic. 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. Here are some vital facts and figures about how Depop works today. And forget all about contacting their support. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. "Monthly active users (MAU) of the Depop app in the United Kingdom (UK) from January 2018 to October 2021 (in millions)." In 2020, Depops gross merchandise sales and revenue increased to $650 million and $70 million, respectively. As a Premium user you get access to the detailed source references and background information about this statistic. It allows users to buy and sell items, most of which are used and vintage pieces of clothing. 90% of Depop's active users are under the age of 26.Depop. [3] Paolo Barberis and Nana Bianca were two of the first investors in the platform in 2012 with a seed investment. Simon Beckerman and Maria Raga are the co-founders and current owners of Depop. However, it soon started to spread across other markets, eventually becoming a worldwide marketplace for second-hand clothing. Send your buyer a message thanking them and letting them know when you plan to ship; Ship ASAP using tracked delivery. Generation Z, which spans consumers aged 7 to 25, will make up 40 per cent of the luxury market by 2035, according to consultancy Bain & Company, which has collaborated with Depop on the report. 16.6M+ items are available for sale on Depop. Take up to four photos. 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. 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 profit calculator - Calculate your Depop and Paypal fees, shipping amount, taxes, revenue and profits for every product you sell on your Depop store. However, while the idea behind the two is similar, there are some key differences between Vinted and Depop. Ship. Shop now Sell your way Depop should know. --Etsy, Inc., 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. A copy of the presentation that will be covered on the conference call will also be posted to our website. Prices for clothing range from $3-$15. Conduct your own research and seek the advice of a licensed financial advisor. It's easy to get started - just create an account to start selling. If y'all remember I posted how I got banned for hashtags that were FINE. For sellers, we offer a range of tools and services that address key business needs. [19][20] According to Taylor Lorenz of The Atlantic, Depop draws in Gen Z users through being easily accessible and having affordable prices, and much of its user base uses it to track trends in fashion. Many sellers model the clothes they sell themselves. Click here to view 60+ Websites to Sell Stuff. Depop's 2020 gross merchandise sales (GMS) and revenue were approximately $650 million and $70 million, respectively, each increasing over 100% year-over-year. Depop Summary. Leading fashion e-commerce companies worldwide 2022, by market cap, EV/EBITDA of leading fashion e-commerce companies worldwide 2021-2023, Global consumers reasons for returning clothes bought online 2021, Main online impulse purchases worldwide 2022, by gender. Depop's GMS grew at a compounded annual growth rate of nearly 80% from 2017-2020. 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. Depop is the community-powered fashion marketplace to buy and sell unique fashion, with over 30 million registered users in more than 150 countries. While some users complained of poor customer service, Depop can help you make extra money online. to incorporate the statistic into your presentation at any time. About Depop Our leadership Facts and figures. The freight forwarder accepts the package on your behalf. Depop is not available in some countries from summer (I cant remember exact month when this happened). DollarBreak is reader-supported, when you sign up through links on this post, we may receive compensation. Only limited information is available about the algorithms and modelling behind ChatGPT, which makes it difficult . , Aug 2, 2022 London-based social shopping platform app Depop was highly benefited by the e-commerce boom during the COVID-19 pandemic. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements. Since Depop has attracted young people, you can expect a lot of clothing and other items to be approved by the millenials. Y, 2019. This is a fluid generation defying categorisation in every sense, Levato says. The company has an expanding global presence being popularised in countries such as the United States, United Kingdom, Australia, New Zealand, and Italy. I always say we owe ourselves authenticity. Secondhand may be sustainable but its also cool. Here are eight brands that have collaborated with Depop to creatively reach young shoppers as they're shopping secondhand: Papa John's Food brands have been making their own merch to connect with young consumers for quite some time, and Papa John's has put their own spin on the marketing trend. The default refresh interval is a random number between 1 and 3 seconds. The mission of my brand is to represent the underrepresented, says Depop seller Tom Evans (@areaeighteen). Its because theyre reliable, dont charge a bunch of taxes, and offer affordable rates. Investor Relations Manager, Advances leadership in community-driven and differentiated marketplaces, Etsy to acquire global fashion resale marketplace Depop. With a background in economics and now e-business, she has joined Dollarbreak to share her experience, to help individuals make sound financial decisions revolving around budgeting, spending, money making and investing. While both websites are free, Swappa requires you to pay a small 3% fee once your item sells compared to Depop, which charges 10%. Date of release is date of access.Figures have been rounded. [21] The platform has also been criticized by its users for picking predominantly thin models wearing straight size clothing to showcase on its Explore page, which some have described as sizeist.[22][19]. Etsy has sufficient available liquidity to fund the acquisition. - 30M+ registered users in over 150 countries - 32M+ items are available for sale on Depop - $1 Billion made by the Depop community to date How to join Depop Goldman Sachs & Co. LLC served as exclusive financial advisor to Etsy, Deloitte as due diligence advisors, and Fenwick & West LLP and Allen & Overy LLP served as Etsy's legal advisors. To minimize the likelihood of being scammed, you should only make a transaction through the app and not offline or off the platform. Depop is expected to be accretive to Etsy's top line growth rate and modestly dilutive to Etsy's adjusted EBITDA margin. ETSY. Sell. Using a Vinted or Depop app, users can sell, buy, or exchange their used clothes. Unfortunately, some users complained that the platform would hold your money for a long time before closing your accounts. These risks and uncertainties include: (1) the level of demand for our services or products sold in our marketplaces and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) risks related to the COVID-19 pandemic; (4) the fluctuation of our quarterly operating results; (5) our failure to meet our publicly announced guidance or other expectations; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (13) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (14) our efforts to expand internationally; (15) our ability to successfully integrate and receive the expected benefits from the Depop and Elo7 acquisitions; (16) acquisitions that may prove unsuccessful or divert management attention; (17) regulation in the area of privacy and protection of user data; and (18) litigation and regulatory matters, including intellectual property claims. That said, you can expect to ship your items at lower prices when using Vinted. Get this delivered to your inbox, and more info about our products and services. Comments, questions or feedback? Its report, released this Monday, unpacks Gen Zs collective behaviours in a pandemic world and beyond. However, we have a pretty simple solution that gets around this restriction. Some of the motivations for using Depop come as no surprise 75 per cent of those surveyed are looking to reduce clothing consumption. eBay allows you to edit and crop your photos compared to Depop, which lacks that functionality. [4] Its headquarters were moved to London in 2012. Founded in 2011, Depop is a community-powered marketplace to buy and sell unique fashion, with a mission to build the world's most diverse and progressive home of fashion. my buyer. Got a confidential news tip? Depop is primarily known for its vintage, streetwear, one-of-a-kind and Y2K (late 1990s/early 2000s) fashion. GET SERVICE INSTANTLY . Depop is planning to run in-person events for later this year, similar to its 2019 Depop live series in New York and London, which brought together sellers and performers to create physical resale spaces alongside an events programme. Now, were assuming that you neither own a house there or do you have relatives living there, so how is this even possible? [15], Depop has garnered criticism from users and critics due to a number of its sellers buying clothes from thrift shops and reselling them for higher prices than they were purchased for. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Like Depop, eBay charges a commission of 10% on all the items sold. A replay of the video webcast will be available through the same link following the conference call starting at 10:30 a.m. Eastern Time today for at least three months thereafter. Its a fairly common question we often see asked, and the answer isnt all that clear. Show publisher information Phone: (718) 880-3660. p:718 880-3660. Etsy CEO Josh Silverman said the company was "thrilled" to be adding what it believes to bethe"resale home for Gen Z consumers" to Etsy. Disclosure. Have to complete the purchase to update your shipping address - Depop Its marketplace connects over 21 million users, selling, buying, and exchanging second-hand clothes and accessories. "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. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated. Others were also unhappy with the customer service describing it as unresponsive. We're excited to build a 'house of brands' where the whole is greater than the sum of its parts.". Depop has around 30 million users in over 150 countries, the majority of whom are young people. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Alternatives to Depop. Our community is made up of people who are creating a new fashion system by establishing new trends and making new from old. 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 is the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion. Poshmark is available in the U.S., Canada, India, and Australia, but at this time Poshers cannot buy or sell outside of their country. . Deb Wasser By providing your email address below, you are providing consent to Etsy to send you the requested Investor Email Alert updates. Otherwise, all transactions made in the app are protected, so it should be safe to sell on Depop. [10] In June 2021, Etsy announced it would acquire Depop for $1.6 billion in cash, making it Etsy's most expensive acquisition, but that Depop would continue operate as a standalone brand independent from Etsy. Depop is all about community - it's the buyers and sellers who use Depop who make it such a great place. You can sign up for additional alert options at any time. That leads us to the question, which of these two reselling platforms is better? The app has over 10 million users and is available in over 100 countries. . Instead, the app uses an escrow service that holds the money in your Vinted wallet until the buyer gets and accepts the item. Pay for the item, tell the seller where to ship it, and pay for it. The stock was up about 6.7% Wednesday afternoon. Bank of America reveals the winning market share gainers with more room to run, Goldman Sachs upgrades this internet of things stock which it sees surging 60%, JPMorgan upgrades Procter & Gamble, says consumer staples stock could be an earnings compounder. The content on dollarbreak.com is for informational and educational purposes only and cannot replace any professional financial advice. More so, what you earn on Swappa depends on the item you are selling and its condition. 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. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. To use individual functions (e.g., mark statistics as favourites, set In interviews with nearly a dozen Depop users, BoF heard numerous reports of women being inundated with sexual messages. To some degree, we have a closer relationship with Gen Z than almost any other institution in the world at scale, says Depop chief brand officer Peter Semple. The site . As for withdrawal methods, eBay offers PayPal and direct deposit compared to Depop, which has PayPal.While Depop is filled with people selling Y2K and vintage items, eBay is better for items that are rare or hard to find. Statista. ThredUP currently ships to the United States and Canada, with no current plans to expand to additional countries at this time. Depop is a legitimate app that lets sellers sell items and buyers buy items; hence not a scam. Vinted is more transactional. 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 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. These are called 'Shop Policies,' stating whether you accept returns as a seller. Others also described the platform as an easy-to-use selling platform. Compare features, ratings, user reviews, pricing, and more from Depop competitors and alternatives in order to make an informed decision for your business. Sr. Director of Investor Relations, Patricia Cruz 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. Weve been a long time customer of MyUS, and weve never had any issues with their service. You can also save money on shipping by using Packlink to compare couriers and find the most cost-efficient solution. Sign up for free newsletters and get more CNBC delivered to your inbox. There are plenty of resources available to help you cleared up any questions you may have. You can also email them at support@depop.com. [8][bettersourceneeded], In June 2019, Depop raised $62 million in Series C from General Atlantic to fund its expansion. Depop promises not to share your details with third parties. 12.9% of the sale price or lower, plus $0.30 per order. Gen Z, the next wave of luxury consumers, are a fluid generation who crave flexibility and think secondhand clothes are cool, according to new research by Depop, produced in collaboration with consultancy Bain. What are the Other Ways to Make Money on Depop? A Division of NBCUniversal. You can only download this statistic as a Premium user. Sellers who live in countries where depop is not popular wouldn't be able to sell anything if they couldn't do it.
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