Want to talk about Etsy for a minute, but let me first say...
This is a heck of a list of supporters. Maybe some more coming
I think Rory is smiling at the united support and the many longs, including some long, longs. More are welcome and happy we can spend more time on DD and less on wasting time.
#33 fred20155
#32 dawhale
#31 HiddenDunes
#30 Bad_Dog
#29 lajet
#28 LABman
#27 humbleinvestor68
#26 majorexchange
#25 Buffi
#24 Willyw0nka
#23 manfromjax
#22 Poseidon360
#21 BestestBaby
#20 upstater
#19 facai88
#18 Noemotions
#17 JPPC
#16 Zoom
#15 gobears1985
#14 jamiejaytrader
#13 Justa_Angel
#12 prisonwallet
#11 Rushnroll
#10 Trashboy
#9 Tennisboy
#8 Both shallow
#7 Indurain
#6 Thunder4402
#5 cultivatedcoral
#4 Natural Treasures
#3 matzaball
#2 JR30
#1 redspeed
Etsy buying fashion marketplace Depop for $1.6 billion
Depop recorded revenue of $70 million in 2020, and its gross merchandise sales have grown at an annual rate of nearly 80% from 2017 to 2020.
That is 23x revenue for a new and second hand store
"Depop is expected to add to Etsy's top line growth rate and modestly dilute Etsy's adjusted EBITDA margin"
Oh no, there is that dilute word
BUY. SELL. DISCOVER UNIQUE FASHION.
What is Depop?
"Depop is the fashion marketplace app where the next generation come to discover unique items. With a global community buying, selling and connecting to make fashion more inclusive, diverse and less wasteful. This is what transforming fashion looks like."
Ummm, can't you do that on eBay?
"90% of our active users are under the age of 26"
Ahhh, the younger ones don't use eBay as much?
"26M+ registered users over 147 countries"
Registered or Active, eh?
"$1 Billion made by the Depop community to date"
"Depop was founded by Simon Beckerman in 2011 as a social network where readers of PIG magazine could buy items from the young creatives featured in the magazine. "
$100M on average per year, not bad.
"How does Depop charge fees? Depop charges a 10% flat rate fee on every item sold. We don't charge a listing fee or a subscription fee. And we never sell your data."
10% of $1B is $100M which is $10M year on average of revenue. If their revenue was $70M last year that was $700M of sales? Someone tell me if I am off a zero.
Could it be, if I am not, that means that 70% of their revenue was last year.
Is it possible online sales, like that, would explode so quick?
Was there a pandemic effect going on, analysts may ask?
So Esty bought them for $1.6B for a eCommerce app that is plain vanilla. Do a search on their site for something and see what I mean...
https://www.depop.com/search
red, what does this have to do with Verb?
Verb's marketplace is a bit like this
Artist, Craftspeople, etc. can and do sell unique products
red you said Depop was a bit like Verb. What's the difference?
The big difference is one is alive and one is not
One you can host live events and the other one looks a lot like ebay.
One has a segment of an audience (under 26), the other is much broader.
One company only does one thing, the other has a number of products
Looking forward to the release of Marketplace this year
As Brian said, it's like having multiple QVCs going on at the same time.
MarketPlace at scale, could be a multiple billion dollar company in and of itself and a lot quicker than Depop did it, but you be the judge of your own investments, but now you have a benchmark of something 1/2 as good as what Verb is creating.
Once MarketPlace gets released and builds up momentum, I believe the potential of were it can go exponentially. has No Ceiling .
Remember today in the beta pilot, the sellers are bring their own buyers. What happens when there are millions of buyers that they can also tap into?
Just need to be cleared for take off
Once cleared, we never land
Microsoft first though...
This is a heck of a list of supporters. Maybe some more coming
I think Rory is smiling at the united support and the many longs, including some long, longs. More are welcome and happy we can spend more time on DD and less on wasting time.
#33 fred20155
#32 dawhale
#31 HiddenDunes
#30 Bad_Dog
#29 lajet
#28 LABman
#27 humbleinvestor68
#26 majorexchange
#25 Buffi
#24 Willyw0nka
#23 manfromjax
#22 Poseidon360
#21 BestestBaby
#20 upstater
#19 facai88
#18 Noemotions
#17 JPPC
#16 Zoom
#15 gobears1985
#14 jamiejaytrader
#13 Justa_Angel
#12 prisonwallet
#11 Rushnroll
#10 Trashboy
#9 Tennisboy
#8 Both shallow
#7 Indurain
#6 Thunder4402
#5 cultivatedcoral
#4 Natural Treasures
#3 matzaball
#2 JR30
#1 redspeed
Etsy buying fashion marketplace Depop for $1.6 billion
Depop recorded revenue of $70 million in 2020, and its gross merchandise sales have grown at an annual rate of nearly 80% from 2017 to 2020.
That is 23x revenue for a new and second hand store
"Depop is expected to add to Etsy's top line growth rate and modestly dilute Etsy's adjusted EBITDA margin"
Oh no, there is that dilute word
BUY. SELL. DISCOVER UNIQUE FASHION.
What is Depop?
"Depop is the fashion marketplace app where the next generation come to discover unique items. With a global community buying, selling and connecting to make fashion more inclusive, diverse and less wasteful. This is what transforming fashion looks like."
Ummm, can't you do that on eBay?
"90% of our active users are under the age of 26"
Ahhh, the younger ones don't use eBay as much?
"26M+ registered users over 147 countries"
Registered or Active, eh?
"$1 Billion made by the Depop community to date"
"Depop was founded by Simon Beckerman in 2011 as a social network where readers of PIG magazine could buy items from the young creatives featured in the magazine. "
$100M on average per year, not bad.
"How does Depop charge fees? Depop charges a 10% flat rate fee on every item sold. We don't charge a listing fee or a subscription fee. And we never sell your data."
10% of $1B is $100M which is $10M year on average of revenue. If their revenue was $70M last year that was $700M of sales? Someone tell me if I am off a zero.
Could it be, if I am not, that means that 70% of their revenue was last year.
Is it possible online sales, like that, would explode so quick?
Was there a pandemic effect going on, analysts may ask?
So Esty bought them for $1.6B for a eCommerce app that is plain vanilla. Do a search on their site for something and see what I mean...
https://www.depop.com/search
red, what does this have to do with Verb?
Verb's marketplace is a bit like this
Artist, Craftspeople, etc. can and do sell unique products
red you said Depop was a bit like Verb. What's the difference?
The big difference is one is alive and one is not
One you can host live events and the other one looks a lot like ebay.
One has a segment of an audience (under 26), the other is much broader.
One company only does one thing, the other has a number of products
Looking forward to the release of Marketplace this year
As Brian said, it's like having multiple QVCs going on at the same time.
MarketPlace at scale, could be a multiple billion dollar company in and of itself and a lot quicker than Depop did it, but you be the judge of your own investments, but now you have a benchmark of something 1/2 as good as what Verb is creating.
Once MarketPlace gets released and builds up momentum, I believe the potential of were it can go exponentially. has No Ceiling .
Remember today in the beta pilot, the sellers are bring their own buyers. What happens when there are millions of buyers that they can also tap into?
Just need to be cleared for take off
Once cleared, we never land
Microsoft first though...
22
