Depop CEO steps down, Etsy CPO to take over

Depop has announced that Maria Raga is stepping down as CEO to pursue personal ventures. She will remain at the company in an advisory capacity until 30 September to help facilitate a smooth transition.

Kruti Patel Goyal, currently Etsy's Chief Product Officer, has been named Depop's new CEO, effective 12 September 2022. Etsy acquired Depop for $1.6 billion in 2021.

Patel Goyal has held a range of leadership roles at Etsy over the past 11 years. In her current role as Chief Product Officer she has helped to transformed Etsy’s product development culture, scaled teams and improved the shopping experience within the marketplace.

Etsy has promoted Nick Daniel, Vice President of Product Management, to Chief Product Officer. Both Patel Goyal and Daniel will report to Etsy's CEO Josh Silverman.

Commenting on the restructure, Josh Silverman said: “Depop is a highly-relevant and authentic re-commerce brand that we believe is still early in its growth lifecycle. I have no doubt Kruti is the right leader for Depop’s next chapter as we focus on nurturing its passionate community and improving the customer experience. She has guided Etsy through periods of significant transformation, with a proven track record of motivating teams to deliver results and advance our mission.”

Kruti Patel Goyal, newly appointed CEO of Depop, said: “At Etsy, we often say that two-sided marketplaces are lightning in a bottle – and this is certainly true of Depop. We believe Depop has fostered one of the most passionate communities in ecommerce, and has only scratched the surface when it comes to reaching its full potential. I’m excited to work with the talented team at Depop as they redefine the future of fashion.”