Depop is on the hunt for a new office in Farringdon, EG understands, as the online clothing marketplace looks to build on a dramatic surge in business driven by the pandemic.
The company, whose app has become a mainstay on the smartphones of 16 to 24-year-olds in recent years, is looking to move into an office that is roughly twice the size of its current Shoreditch premises.
It has hired agency Making Moves to help it find up to 40,000 sq ft of space in or near to Farringdon, an area that has grown in popularity ahead of it getting a Crossrail station when the new Tube line finally opens.
However, a source close to the company told EG that Depop has not yet ruled out staying at its current 16,000 sq ft office on Curtain Street, EC2.
The news comes after a bumper year for the firm, whose app allows users to buy and sell clothes between one another.
Demand for its service has doubled during lockdown, prompting Depop to go on a hiring spree in 2020. The company has gone from fewer than 300 employees to more than 400 during the pandemic.
Last month, it also parted ways with its chief operating officer, Dominic Rose, who left amid a management restructure to help the firm accommodate its explosive growth. It also has offices in Manchester, Los Angeles, New York and Sydney.
Depop has estimated that more than 90 per cent of those using its app are under the age of 26, and that a third of all 16 to 24-year-olds in the UK have downloaded it to try it at least once.
EG has approached Depop and Making Moves for comment.
To send feedback, e-mail alex.daniel@egi.co.uk or tweet @alexmdaniel or @estatesgazette
