Depop

Short description: Social shopping app

Depop Limited

Type of business| Limited
Available in| English, Italian
Founded| 2011 (2011) in Roncade, Italy
Headquarters|

London

United Kingdom

No. of locations| London, Milan, Los Angeles, New York City
Area served| Worldwide
Founder(s)| Simon Beckerman
CEO| Maria Raga
Industry| Online shopping
Employees| 140
Website| www.depop.com
Alexa rank|  9,892 ((As of March 2019)[1]
Users|  18 million

Depop is a peer-to-peer social shopping app based in London, with additional offices in Milan and New York City.

## History

Depop was founded in 2011 by entrepreneur Simon Beckerman at H-Farm, an Italian technological incubator and business start-up centre.[2] Its headquarters moved to London in 2012.[3] It expanded and opened additional offices in Milan and New York City.[4] Beckerman raised €1 million in funding in October 2013 from Red Circle Investment and brought on Danish serial entrepreneur Runar Reistrup as new CEO.[3] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinch Ventures.[4] Most active users of Depop are located in the United Kingdom, United States and Italy. In March 2016, former CEO, Runar Reistrup, stated that Depop's growth was achieved through word of mouth.[5]

In June 2019 Depop raised $62 million in Series C from General Atlantic. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski also participated.[6]

## About

Depop provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms.[7] It was announced in May 2016 that Depop was the official app sponsor of the 2016 Vans Warped Tour.[8] The application has attracted celebrities to open stores, with some donating proceeds to charitable causes.[9] Depop is especially popular with the millennial and generation z audience because it provides a way for them to recycle unwanted items for money.[10] Depop displays a layout which is similar to that of Instagram, giving it a social media feel.

## References

1. ↑ "Depop.com Site Info". Alexa Internet. https://www.alexa.com/siteinfo/depop.com. Retrieved March 28, 2019.
2. ↑ Morrison, Emma. "Artefact – In conversation with | Depop founder Simon Beckerman". https://www.artefactmagazine.com/2015/01/14/in-conversation-with-depop-founder-simon-beckerman/.
3. ↑ 3.0 3.1 Azeez, Wale (27 October 2015). "Depop: We’re all shopkeepers now" (in en-US). http://www.politico.eu/article/depop-were-all-shopkeepers-now/.
4. ↑ 4.0 4.1 Lunden, Ingrid (29 January 2015). "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market". https://techcrunch.com/2015/01/29/social-shopping-app-depop-raises-8m-hires-ex-reddit-gm-to-break-into-us-market/.
5. ↑ Reistrup, Runar (31 March 2016). "The Entrepreneur: Runar Reistrup, Depop". http://startups.co.uk/entrepreneur-runar-reistrup-depop/. Retrieved 17 July 2016.
6. ↑ "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users" (in en-US). http://social.techcrunch.com/2019/06/06/depop-a-social-app-targeting-millennial-and-gen-z-shoppers-bags-62m-passes-13m-users/.
7. ↑ Satenstein, Liana. "All Those Millennials Can’t Be Wrong: Why Depop Just Might Change the Way You Shop" (in en-US). http://www.vogue.com/13422129/depop-millennial-friendly-shopping-app/.
8. ↑ "Vans Warped Tour". http://vanswarpedtour.com/sponsors/.
9. ↑ Jones, Georgina (13 July 2016). "9 celebrities with Depop shops to start frequenting immidiately [sic"]. http://www.bustle.com/articles/172373-9-celebrities-with-depop-shops-to-start-frequenting-immidiately. Retrieved 17 July 2016.
10. ↑ Sherwood, Jessica (25 October 2019). "Depop: Can pre-loved clothes make fast fashion sustainable?". BBC. https://www.bbc.co.uk/news/business-49677383.

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