One of our most successful portfolio companies, Depop made The Sunday Times Hiscox Tech Track 100 and launched its first worldwide campaign.
Every year, The Sunday Times selects Britain’s 100 private tech companies with the fastest-growing sales over their latest three years: this year, Depop was ranked number 11 on the 18th. Depop has raised $42.5M to date, with backers including Octopus Ventures and Balderton Capital, and its sales in 2017 hit £94.3M, including the total cost of items sold via the platform. With over 10 million users and a worldwide staff of 95 people, Depop – founded in 2012 in our campus – truly is one of our most successful portfolio companies, and was recently one of the protagonists of our first festival FutureShots.
Beside this achievement, Depop launched its first-ever global advertising campaign: a celebration of its creative and diverse entrepreneurial community, which is defining how the youth is creating and consuming fashion. The campaign is live in London on the underground, New York as fly posters, billboards and on the subway and in Los Angeles as fly posters. The campaign boasts the company’s community of creative entrepreneurs that continue to reimagine industry norms and promote inclusivity. It highlights individual existing sellers, from the gender-freeing, rule-breaking model Jazzelle Zanaughtti of uglyworldwide, Jovel the 19-year old transgender male known for pushing fashion boundaries and the political activist Betsy Johnson from London who speaks for strong bold women through her brand Freckled Ace, founded with Depop earnings.
This is an exciting part of Depop’s evolution, revealing that the business is growing and how new users are continually discovering the app.