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 for $1.625 billion.
Following the closing of the transaction, Depop will continue to be headquartered in London, England and operate as a standalone marketplace run by its existing leadership team.
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.
Balderton first invested as part of Depop’s seed round in 2012, just as the app was being tested in the Italian market. At the time Balderton didn’t do many seed-stage investments, but our investment committee had such conviction in the concept and the founding team that we made a rare exception.