Simon Beckerman was born in Milan and studied industrial design and arts. In 2006 he started a glasses brand with his brother. He also published the fashion magazine PIG, and Depop began as a plan to sell everything shown in its pages.
Depop was founded in 2011 at the H-Farm incubator in Italy. It combined selling with social feeds, which won Gen Z shoppers who wanted something between a marketplace and Instagram. Its rivals include Vinted, eBay, Vestiaire Collective, Poshmark and Grailed.
A seed round came in 2012 from Paolo Barberis and Nana Bianca, then EUR 1 million in 2013 from Red Circle Investment, and $8 million in 2015 from Balderton Capital and HV Capital. Maria Raga became CEO in 2016. General Atlantic led a $62 million Series C in June 2019.
In 2020 Depop reached $650 million in gross merchandise sales and $70 million in revenue. Etsy bought it in 2021 for $1.6 billion. In February 2026 Etsy agreed to sell it to eBay for $1.2 billion, which closed in July 2026.