eBay CEO: Why Was 2025 A Milestone For The Commerce Leader?

eBay Inc, a global commerce leader, has reported its fourth quarter and full-year 2025 financial results, amid plans to expand its fashion remit with the announced acquisition of Depop.

The results, announced on 18 February, saw an increase of 15% in revenue to US$3bn in Q4 and and increase of 8% to US$11.1bn for the full-year on an as-reported basis. Gross Merchandise Value also saw a significant increase at US$79.6bn for 2025, up 7% on an as-reported basis.

The commerce giant returned over US$3bn to stockholders, including US$2.5bn of share repurchases and US$531m paid in cash dividends. 

Discussing the results, eBay's CEO Jamie Iannone said: "2025 was a milestone for eBay, and our results reflect the strength of our strategy and the disciplined execution behind it.

"We have built significant momentum across our strategic priorities, delivering meaningful growth and reinforcing our leadership in recommerce.

"As we continue to harness AI to elevate the customer experience worldwide, eBay is the strongest position it has been in years."

Strong business development

The company saw significant business highlights in the fourth quarter, including:

• Expanding eBay Live to Germany and Australia, an interactive live-stream shopping experience, aiming to deepen customer engagement and discovery across all of the company's shopping categories
• Launching a new AI-powered card scanning experience, leveraging its Smart Lens technology, providing historical pricing, PSA population data and valuable insights to help support informed collecting and trading decisions
• Entering a multi-year partnership with Condé Nast as the official Pre-Loved Partner across Vogue, GQ and Vanity Fair, underscoring eBay's leadership in pre-loved fashion 

"Our Q4 results conclude a very strong 2025 for eBay, with accelerating growth and significant progress across our strategy," said Chief Financial Officer Peggy Alford. "This continue strength coupled with our solid financial foundation positions us to deliver long-term value for our shareholders."

eBay also reported that it has exceeded its 5-year Impact Goals, concluding in 2025. The company achieved a multiple positive economic impact from pre-loved and refurbished goods of close to US$25bn, which helped to prevent nearly 8.2m metric tonnes of carbon emissions from entering the atmosphere.

In 2025, eBay was also recognised in the TIME's World's Best Companies and World's Most Sustainable Companies, and Forbes' World's Best Employers.

Increased focus on pre-loved fashion

On 18 February, eBay also announced that it has entered a definite agreement to acquire Depop, a leading C2C fashion marketplace, from Etsy, showing eBay's increased focus on a highly-engaged Gen Z and Millennial customer base.

The acquisition is valued at approximately US$1.2bn in cash. Etsy purchased Depop in 2021 for US$1.6bn.

In a company statement, CEO of Etsy Kruti Patel Goyal said: "We are excited that this transaction allows us to focus exclusively on the compelling opportunity we see in front of us: to grow the Etsy marketplace in ways that matter most to our buyers and sellers.

"We believe this transaction is a great outcome for Etsy's shareholders, and a positive next step for all involved. We are proud of what the Depop team has built – a truly differentiated brand and product, grounded in clear purpose and strong community – becoming one of the fastest-growing fashion resale marketplaces in the US.

"I am confident that Depop is well-positioned for its next phase of growth as part of eBay."

Jamie added in a post on LinkedIn: "With deep recommerce roots, Depop is an amazing brand that we're excited to partner with in building the future of C2C."