Maria Raga, the CEO of secondhand fashion app Depop, has today announced her resignation.
She'll be replaced by Kruti Patel Goyal, currently chief product officer at creative marketplace Etsy, which acquired Depop last year. Goyal will relocate to London from New York to take up the reins in September.
In a LinkedIn post announcing the news, Raga — who has been at the helm of Depop for eight years — says: "I’ve made the almost impossible decision to step down as CEO in order to take a break and spend more time with my family."
Etsy bought Depop for $1.6bn in June 2021, in part to tap into its Gen Z user base. The app allows sellers to create their own shop fronts, and build a brand around them to sell off their secondhand clothes.
Depop was founded in 2011 by Simon Beckerman, and raised over $80m from investors including Balderton, Creandum, HV Capital, Octopus Ventures and General Atlantic.