SubscribeCompany Monitor
Scaled recommerce operator; fashion GMV disclosed above $10 billion annually.
marketplace · Index #2 · confidence high
eBay (recommerce) is tracked on Mooselen as a marketplace running a peer to peer model across Global. Headquarters: San Jose, United States. Ownership status in the Mooselen ledger: public.
Categories covered: fashion, general merchandise, recommerce. Authentication model: category dependent. Fulfillment model: seller fulfilled.
Scaled recommerce operator; fashion GMV disclosed above $10 billion annually. Mooselen treats this as a verified profile card fact, not a forecast.
On the Mooselen Index (edition 2026-08-03), eBay (recommerce) ranks #2 in the Marketplace tier. The largest pool of resale volume by absolute value, embedded inside a public marketplace rather than a standalone brand. The Mooselen Index ranks operators on disclosed scale, category position, and momentum. Detailed company profiles are included with Mooselen Professional. Current ranking edition cutoff: August 3, 2026 (includes eBay completion of the Depop acquisition).
Disclosed revenue and full GMV definitions are not invented on this public profile. Where Mooselen has published numbers, they appear in Wire, Analysis, or Index sources linked below. Profile last verified 2026-08-03 with high data confidence.
Consignment vs Peer-to-Peer Resale refers to the fundamental structural divide in secondhand fashion platforms. Consignment models (used by The RealReal, ThredUp) involve sellers shipping items to the platform, which handles photography, pricing, storage, authentication, and fulfillment, taking a commission (typically 20 to 80 percent depending on item price). Peer-to-peer models (Vinted, Depop, Poshmark) let sellers list and ship directly to buyers, with the platform providing marketplace infrastructure and taking smaller fees (usually 10 to 20 percent). The distinction determines capital requirements, scalability, quality control, and unit economics. Consignment demands significant upfront investment in warehousing and operations but offers consistency and brand control. Peer-to-peer requires less capital and scales faster but sacrifices quality oversight. Many platforms now blend elements of both, offering managed services alongside direct selling options to optimize margins and seller experience.
GMV (Gross Merchandise Value) represents the total dollar value of all merchandise sold through a resale platform over a specific period, before deducting returns, fees, or other costs. In resale marketplaces like Vinted or Depop, GMV captures every transaction between buyers and sellers, making it a key metric for measuring platform scale and growth velocity. While GMV shows marketplace activity, it differs critically from revenue: a platform might process $1 billion in GMV but only collect 10% to 20% as take rate revenue. Investors and operators track GMV to assess market share, seasonal trends, and category performance. However, GMV alone can mislead, since high transaction volume does not guarantee profitability if customer acquisition costs remain elevated or operational expenses outpace revenue growth. Successful resale businesses balance GMV expansion with sustainable unit economics.
Mooselen reads eBay (recommerce) inside the broader circular fashion system: Circular fashion is a regenerative system designed to keep clothing and textiles in continuous use through resale, rental, repair, and recycling, rather than following the traditional linear model of make, use, discard. The approach extends product lifecycles by returning garments to the market multiple times before materials are ultimately recycled into new fibers or products. For resale businesses, circular fashion represents both an operating philosophy and a market opportunity: platforms like Vinted and Depop function as critical infrastructure in circular systems by facilitating peer to peer clothing exchange. The model reduces environmental impact by decreasing demand for virgin materials and diverting textile waste from landfills, while creating economic value from existing inventory. Brands increasingly adopt circular principles through takeback programs and owned resale channels.
Business model peer to peer
Headquarters San Jose, United States
Geography Global
Ownership public
Categories fashion, general_merchandise, recommerce
Authentication category dependent
Fulfillment seller fulfilled
Disclosed revenue Not publicly disclosed on this profile card
Disclosed GMV/GMS See Index scale notes when entitled; public Signal and Wire disclosures are linked below when available
Last verified 2026-08-03
Ownership close is when trust tooling, paid acquisition, and inventory strategy can change without a separate board.
August 11, 2026
The material public signals since late July remain eBay completing its Depop acquisition while keeping Depop as a distinct brand, and ThredUp posting second quarter 2026 revenue of $90.8 million with record Active Buyers before softening second half guidance for price-sensitive demand, according to the companies' primary releases covered in prior Mooselen Wire editions.
August 3, 2026
eBay Inc. said on July 30, 2026 that it has completed its acquisition of Depop, a consumer to consumer fashion marketplace with a Gen Z and Millennial customer base, according to an eBay press release. Fashion is already a more than $10 billion annual GMV category for eBay, the company said.
July 30, 2026
On July 30, 2026, eBay announced it completed the acquisition of Depop, describing Depop as a leading consumer to consumer fashion marketplace with a highly engaged Gen Z and Millennial base, according to eBay's press release.
July 6, 2026
Vinted closed an 880 million euro ($1.02 billion) sale of existing shares late in April, a deal that put the Lithuanian resale marketplace above $9 billion, CNBC reported. EQT led the round, CNBC said, bringing in new backers Schroders Capital and BlackRock while existing investor Baillie Gifford expanded its position. The deal allowed current shareholders and employees to cash out but brought in no fresh money for the company itself, according to CNBC.
July 2, 2026
For two decades secondhand platforms competed on selection: more listings, more brands, more inventory. That race is ending. ThredUp, eBay, StockX, and Rebag are now working to differentiate on curated experience instead, deploying AI and celebrity partnerships to surface less and sell more, according to Business of Fashion reporting. The logic is defensive as much as strategic: when every platform holds millions of listings, breadth stops being an advantage and starts being a search problem.
July 1, 2026
Depop is removing the 10 percent selling fee it charged sellers and shifting the cost to buyers, who will now pay roughly 5 percent extra at checkout, the platform confirmed. The move follows a pattern Vinted set years ago: kill the seller fee to flood the marketplace with supply, then recover the take rate on the buy side where price sensitivity is lower.
June 18, 2026
eBay reported gross merchandise value of 79.6 billion dollars in 2025, a reminder that the largest resale-capable marketplace is not a fashion specialist at all. The pure-play resale names compete for a category eBay treats as one vertical among many, which is precisely why eBay is buying Depop to sharpen its fashion and younger-buyer position.
June 4, 2026
eBay agreed to acquire fashion resale marketplace Depop from Etsy for about 1.2 billion dollars, a deal aimed at strengthening eBay’s fashion offering and drawing a younger demographic, first reported as the largest resale deal of the period. Etsy exits a property that never fit its handmade-goods core; eBay gains a Gen Z-heavy fashion community it has struggled to build organically.
After eBay completed its acquisition of Depop on July 30, 2026, eBay chief executive Jamie Iannone said the combination expands reach with the next generation of buyers and sellers while Depop keeps a distinct customer experience. Depop chief executive Peter Semple called the move a new chapter and said Depop would continue delivering the experience its users value, according to eBay's press release.
← All companies · Mooselen Index · Signals · Deals & Capital · Intelligence membership