Depop

History

Depop is a mobile application that works as a marketplace for individuals to buy and sell items second-hand. The app works across iOS and Android devices and is particularly popular with Millennials and Generation Z audiences, as it works as a means to earn extra income whilst recycling or reusing unwanted items. The layout of Depop is similar to that of popular social media app Instagram, so it's designed to be as intuitive and easily-navigable for its audience as possible.

Depop began in 2011 when Italian tech entrepreneur Simon Beckerman worked at H-Farm, a business start-up centre. Once launched, it quickly gained popularity in Italy and the company moved to the UK the year after it was founded. Within the next year, it had expanded further with offices opening in New York and Milan. Simon Beckerman went on to raise €1 million in 2013 from third-party investors and made the hire of a new CEO. The app continued to flourish and a further $8 million was raised in 2015. Its popularity was widely lauded to old-fashioned ‘word of mouth’ marketing; emboldened and hastened by social media shares.

In 2019, $62 million further funding was raised, including from a number of existing investors. Depop saw a further boost of users through 2020’s coronavirus restriction lockdowns, as individuals looked to ‘clear out’ excess items in their homes and earn additional income. Several high-profile celebrities have signed up to sell their own clothing and accessories on the site and donated the proceeds to charity. Charities such as British Heart Foundation and The Air Ambulance Service also now work directly with Depop to sell items on the platform to raise funds.

Key selling points:

• Allows users to buy secondhand items cheaply as well as to sell their own
• Encourages recycling and reuse of items rather than the purchase of fast fashion
• Used in conjunction with or by charities directly for fundraising purposes
• Ever-evolving app with frequent updates and improvements installed.