What Is Depop?

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Etsy  (ETSY) - Get Report and Depop made headlines on Wednesday as news of Etsy buying the London-based app broke.

If you are wondering what kind of company Depop is, let me help you. 

Depop is a peer-to-peer social shopping app, founded by Italian entrepreneur Simon Becker.

As mentioned in Depop's website, while working for his magazine PIG, Becker created Depop "as a social network where readers could buy items from the young creatives featured in the magazine."

"After realizing that Depop needed a selling function, Simon re-envisioned the app as a marketplace and a mobile space where you can see what your friends and the people you’re inspired by are liking, buying and selling," the website reads.

Known for its Gen-Z focus with 90% of users under the age of 26, Depop has more than 26 million registered users in over 147 countries.

The company has raised about $100 million in funding.

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