Double-Digit Growth and $1.2 Billion Acquisition: eBay's Aggressive Strategy

EBAY INC. (NASDAQ: EBAY) announced on February 18 that it delivered fourth-quarter 2025 revenue of $3.0 billion (approximately KRW 3.9 trillion) and gross merchandise volume (GMV) of $21.2 billion (approximately KRW 27 trillion), marking 15 percent year-over-year growth. For the full year 2025, the company returned more than $3.0 billion (approximately KRW 3.9 trillion) to shareholders through share repurchases and dividends.

Looking ahead to the first quarter of 2026, eBay expects double-digit revenue and GMV growth on a constant-currency basis. The board has raised the quarterly dividend by 7 percent to $0.31 per share and approved an additional $2.0 billion (approximately KRW 2.6 trillion) for its share-repurchase program.

On the same day, eBay announced an all-cash agreement to acquire Depop, the secondhand fashion marketplace popular with Gen Z and millennial shoppers, from Etsy for about $1.2 billion (approximately KRW 1.6 trillion). Subsequent filings on March 12 and 15 disclosed insider transactions by Chief Growth Officer Julie A. Rogers, including sales of common stock and vesting of performance-based restricted stock units.

Major international outlets report that the Depop deal will strengthen eBay’s foothold in the fast-growing fashion resale market, noting that Etsy acquired Depop in 2021 for roughly $1.6 billion and is now divesting it for $1.2 billion. In its Q4 2025 results, eBay topped consensus estimates with $3.0 billion in revenue and delivered double-digit growth.

eBay operates a global online marketplace that connects person-to-person sellers and professional merchants, and it is expanding its resale- and reuse-focused e-commerce business through authentication programs, refurbished goods and advertising offerings. Against a backdrop of economic uncertainty and rising eco-conscious consumer demand in the U.S. and other key markets, the secondhand fashion and resale sector is booming—and competitive dynamics among major e-commerce and fashion platforms are intensifying through acquisitions and partnerships.