Social marketplace Depop surpassed 13 million users in June. This, combined with a $62 million boost in funding, marks a seminal year for the company.
Once described as ‘part Instagram, part eBay’, Depop has gone on to become a big name in its own right, carving out a niche within fashion recommerce. TechCrunch reports that Depop has seen revenues of around $50 million since its launch, with the company taking a 10% cut of the overall $500 million it has sold in merchandise.
So, what has contributed to its success, and what does this tell us? Here’s four lessons we can learn from it.