Depop

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Depop Limited
Depop logo.svg
Type of businessLimited
Available inEnglish, Italian
Founded2011 (2011) in Roncade, Italy
Headquarters
London
,
United Kingdom
No. of locationsLondon, Manchester, Milan, Los Angeles, New York City
Area servedWorldwide
Founder(s)Simon Beckerman
CEOMaria Raga
IndustryOnline shopping
Employees140
URLwww.depop.com
UsersIncrease 18 million

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

History[edit]

Depop was founded in 2011 by entrepreneur Simon Beckerman at man on man, an Italian technological incubator and business start-up centre.[1] Its headquarters moved to London in 2012.[2] It expanded and opened additional offices in Milan and New York City.[3] Beckerman raised €1 million in funding in October 2013 from Red Circle Investment and brought on Danish serial entrepreneur Runar Reistrup as new CEO.[2] In 2015, Depop secured another investment of $8 million from Balderton Capital and Holtzbrinck Ventures.[3] 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.[4]

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.[5]

About[edit]

Depop provides a mobile marketplace that enables individuals to buy and sell their items on iOS and Android platforms.[6] It was announced in May 2016 that Depop was the official app sponsor of the 2016 Vans Warped Tour.[7] The application has attracted celebrities to open stores, with some donating proceeds to charitable causes.[8] Depop is especially popular with the Millennial and Generation Z audience because it provides a way for them to recycle unwanted items for money.[9] Depop displays a layout which is similar to that of Instagram, giving it a social media feel.

References[edit]

  1. ^ Morrison, Emma. "Artefact – In conversation with | Depop founder Simon Beckerman". Artefact. Archived from the original on 16 July 2015. Retrieved 21 June 2016.
  2. ^ a b Azeez, Wale (27 October 2015). "Depop: We're all shopkeepers now". Politico Europe. Retrieved 21 June 2016.
  3. ^ a b Lunden, Ingrid (29 January 2015). "Social Shopping App Depop Raises $8M, Hires Ex-Reddit GM To Break Into US Market". TechCrunch. Retrieved 21 June 2016.
  4. ^ Reistrup, Runar (31 March 2016). "The Entrepreneur: Runar Reistrup, Depop". Startups.co.uk. Retrieved 17 July 2016.
  5. ^ "Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users". TechCrunch. Retrieved 2019-06-07.
  6. ^ Satenstein, Liana. "All Those Millennials Can't Be Wrong: Why Depop Just Might Change the Way You Shop". Vogue. Retrieved 21 June 2016.
  7. ^ "Vans Warped Tour". Vans Warped Tour. Retrieved 21 June 2016.
  8. ^ Jones, Georgina (13 July 2016). "9 celebrities with Depop shops to start frequenting immidiately [sic]". Bustle. Retrieved 17 July 2016.
  9. ^ Sherwood, Jessica (25 October 2019). "Depop: Can pre-loved clothes make fast fashion sustainable?". bbc.co.uk. BBC. Retrieved 26 June 2020.