Wallapop has its sights set on becoming a major player in the second hand goods marketplace sector. The hyper-local marketplace helps connect sellers with buyers, much in the style of craigslist or eBay, but with a cleaner and more intuitive mobile-first approach.
Looking at transaction volume, Wallapop beats both Amazon and Ebay in its native Spain, where it has tapped into an increasingly popular consumer trend of mobile shopping, as well as both economic- and environmental-peaked interest in second hand. After a false start in the US market, the company's steps towards international expansion have been slowed - but it does have a modest UK presence and its eyes on much of the EU.
Focusing on the EU could prove to be a smart strategy. The size and popularity of its secondhand fashion resale market are rapidly increasing, powered by the runaway success of apps like Vinted, Depop, and Vestiaire Collective. Wallapop was bought by South Korean digital platform Naver, which will support existing operations and expansion in Italy, Spain, and Portugal, as well as funding developments in data science and other R&D.
Freddie
Company Specialist at Welcome to the Jungle