Depop, the community-powered marketplace app where people exploring style and the latest trends come to shop and sell circular fashion, announced today that Kruti Patel Goyal, Etsy’s (NASDAQ: ETSY) Chief Product Officer, has been named Chief Executive Officer, effective September 12, 2022.
Maria Raga, Depop’s current CEO, has resigned to pursue personal ventures, but will remain with Depop in an advisory capacity until September 30, 2022 to facilitate a smooth transition.
Etsy, Inc. Chief Executive Officer Josh Silverman commented, “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.”
“After eight years of scaling Depop from a small enterprise to being a part of Etsy’s House of Brands, I’m excited to now pass the baton to someone who can take Depop to the next level,” said Maria Raga. “Working with Kruti for the past year, I have consistently been impressed by her extraordinary track record and empathetic leadership. I could not have wished for a better successor and I am confident she will do amazing things for Depop.”
Kruti Patel Goyal possesses a deep expertise in marketplace dynamics, having held a range of leadership roles at Etsy over the past 11 years. In her current role as Chief Product Officer, Kruti has transformed Etsy’s product development culture, scaled Etsy’s teams, and significantly improved the shopping experience within the marketplace. She previously led Etsy’s seller services, corporate development, international, and marketplace integrity teams.
Kruti commented, “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.”
With Kruti’s transition to her new role, Etsy has promoted Nick Daniel, Vice President of Product Management, to Chief Product Officer. Both Kruti and Nick will report to Etsy, Inc. CEO Josh Silverman. Kruti will relocate to London, where Depop is headquartered. Depop's talented leadership team that previously reported to Maria will report to Kruti.
Josh continued, “I’m delighted to congratulate Nick on this well-deserved promotion. Nick is an Etsy veteran who has led some of our most impactful product initiatives that have enabled sellers to grow their businesses and drive more sales. Kruti and Nick stepping into these new roles reflects our efforts to nurture a deep bench of talent and leadership across our House of Brands. Finally, I’d like to express my gratitude to Maria for her partnership and her many significant contributions. Under her leadership, Depop took the world by storm and defined itself as a beloved, culturally-relevant brand. We wish her the best in her future endeavors.”