Maria Raga on why community is central to Depop’s success
The CEO of the online peer-to-peer marketplace believes the platform’s ability to connect people sets it apart from typical fashion e-commerce.
In June 2021, online marketplace Etsy announced plans to acquire Depop for $1.6 billion. The move was yet another sign of growing interest in the burgeoning fashion resale market, which according to BoF Insights, is now worth $130 billion globally.
CEO Maria Raga describes Depop as “combining elements from Instagram and eBay”. The platform is skewed towards lower-priced product exchange between younger traders, almost all of them 26 and under. Raga believes that it’s Depop’s community aspect — facilitating not just online transactions, but also person to person interactions — that attracts these all-important Gen-Z shoppers.
Raga’s insights are featured in the fifth episode of The BoF Show, now streaming on Bloomberg Quicktake.
Watch the fifth episode of The BoF Show here.