What is Depop? Depop Review

Depop is a fashion + shopping platform where users can share their purchased products through photos and videos. They can also set up personal online stores to sell their creative works and provide product recommendations based on user preferences and brands. Depop also provides common social media features such as following and sharing.

About Depop

Depop was founded by Simon Becker in 2011 and established its headquarters in London in 2012. It currently has more than 13 million users in 147 countries around the world. Depop is positioned as a P2P social shopping application.

Depop is popular on Instagram and is seen as a platform for buying and selling unique items. Depop is a privately owned company and although its app is available worldwide, most of its active users are from the UK, US and Italy. Depop's iOS and Android apps are available in English and Italian.

Depop is a social shopping app that can be downloaded on both iOS and Android devices. Depop provides users with a convenient way to sell through social media. Users only need to take pictures of the products, upload the photos to Depop, and then share them on Facebook and Twitter. Then just wait for someone to buy them. The products on Depop range from books to clothing, shoes, furniture, etc., making it a good shopping choice. If you need more detailed information about the product or want to exchange items, you can click to consult the seller. You can also view the items they buy or sell through the seller's profile. Depop also has a local search function to search for local products.

Operational Model

Depop's operating model is between eBay and Instagram, and it is known as the "Instagram-style social shopping platform."

Depop users upload photos of things they want to sell, and once the item is sold, there will be a yellow "sold" label on the picture. Unlike eBay, after the item is sold on Depop, users can choose to keep the pictures so that they can build a large library of pictures that other users can "like" and comment on. The more followers you have, the more money you are likely to make from selling items.

cost

It's free to download Depop and upload products. But if the product sells, Depop will charge 10% of the total sales price. This fee will be automatically deducted from your PayPal account, and you can also use PayPal to collect product fees. It should be noted that the number of your fans will directly affect your product pricing and sales volume.

Development History

-In 2011, Depop founder Simon Beckerman began developing the app, and H-Farm was its earliest investor.

-In 2012, Depop moved its headquarters to London.

-In 2013, Depop landed on the iOS platform.

-In 2014, Depop launched the Android version.

-In January 2015, Depop received $8 million in Series A funding.

-In January 2018, Depop received US$20 million in Series B funding, led by Octopus Ventures, with participation from existing investors including Balderton CAPItal, Red Circle Investments and Lumar.

-In the first quarter of fiscal year 2019, Depop’s sales in the United States increased by 300% compared to the same period in fiscal year 2017.

- In June 2019, Depop received US$62 million in Series C financing, led by the well-known private equity fund General Atlantic, with participation from existing investors, including venture capital firms: HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap, and Sebastian Siemiatkowski, founder and CEO of Swedish payment company Klarna.