eBay CEO Jamie Iannone said Depop, the secondhand clothing platform acquired from Etsy in July for $1.4 billion, is growing rapidly. Depop's gross merchandise volume more than doubled in Q3, outpacing eBay's overall GMV growth of 15%. Monthly active users and sold items also more than doubled year-over-year on a pro forma basis. Iannone said higher-spending shoppers have joined, and repurchase, relist, and resell rates improved year-over-year, giving confidence in the C2C fashion and recommerce opportunity.
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