Simon Beckerman's Net Worth Amid the Etsy-Depop Deal

Head of thrifting app Depop, Simon Beckerman is looking toward a new net worth following Etsy's big purchase. What is his net worth?

Rachel Curry - Author

Jun. 3 2021, Published 11:57 a.m. ET

It's safe to generalize that many app creators dream of being bought out by the big guns. That's the most passive kind of passive income there is. Depop founder Simon Beckerman is experiencing this first-hand following the announcement that Etsy is purchasing the company. How's Beckerman's net worth looking amid the cash drop?

Article continues below advertisement
Article continues below advertisement

Here's a look at Beckerman's assets behind the screens.

The Etsy deal tells us what Simon Beckerman's Depop is worth

Etsy is spending $1.63 billion (or about 1 billion pounds, since Depop is a London-based company) to acquire the thrift-store app. 

Article continues below advertisement

Beckerman founded Depop in 2011 and the brand has been experiencing a steady stream of growth ever since. It makes sense that Etsy is purchasing the company—their goals of attracting shoppers for handmade or vintage items often overlap. However, their user base is slightly different, and fusing the two can help Etsy bolster its reach. 

About Etsy's acquisition, Beckerman said, "What Depop offers—easy access to unique fashion and a vibrant creative community— is truly distinctive. It’s all about the power of genuine human connection. And it is the people themselves that make being part of the business such a great experience."

Article continues below advertisement
Article continues below advertisement

Beckerman has built his net worth catering to a younger generation

Beckerman built a company with offices across the world (including London, Manchester, New York, Los Angeles, and Sydney) and about 400 employees. He also built a company with major potential, simply because of the fact that it caters to a young audience. Gen Z has a lot of life to live and consumerism to accomplish. 

Young millennials under the age of 26 and Gen Z'ers born after 1997 make up 90 percent of Depop's user base, which runs 30 million strong. In the U.S., Depop snagged the spot of the 10th most visited shopping site. In contrast, Etsy's average user age is 39 years old.

Article continues below advertisement

In short, Beckerman's target audience is and has always been unique. It's no wonder that Depop blossomed into such a valuable platform.

Article continues below advertisement

Depop is keeping Simon Beckerman's compensation on the downlow.

Unfortunately, the general public hasn't learned how much Beckerman is getting out of the deal. After the deal goes through, Depop's fiscal fundamentals will become a highlighted topic of conversation for investors (beyond the seven funding rounds that have helped them accumulate $105.6 million).

Article continues below advertisement

Beckerman and Depop CEO Maria Raga will likely both profit off of the deal, and I'm sure neither of them is complaining about the outcome. Other Depop executives and institutional investors will also surely get their own windfall, to a degree. As for some of those institutions, venture capital firms General Atlantic, Creandum, Octopus Ventures, and Balderton Capital all have a stake in Depop.

It's about time Beckerman's entrepreneurship paid off

Beckerman's net worth might be an abstract figure, but it's worth noting that this isn't his first entrepreneurial venture. He also owns a sunglass brand called Retrosuperfuture, which he created with his brother. The two started by building an independent magazine together and have gone on to bigger and better things in the world of fashion and the arts.


Latest Etsy, Inc. News and Updates

    Opt-out of personalized ads

    © Copyright 2024 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.