In today’s Digest we discuss eBay acquiring Depop for USD$1.2bn, Amazon overtaking Walmart in annual revenue, and Scopely agreeing a $1bn deal for a Turkish game developer.

eBay acquires Depop

eBay has agreed to acquire London-based fashion resale platform Depop from Etsy for approximately $1.2bn (£890m) in cash, as it seeks to strengthen its appeal among younger, fashion-focused shoppers. The move comes amid sustained growth in secondhand marketplaces, particularly among gen Z, driven by tighter household budgets and rising interest in sustainable fashion. 

Under the new agreement, Depop will retain its brand, platform and culture. Etsy’s chief executive said the divestment would allow the company to refocus investment on its core marketplace and prioritise areas that matter most to its buyers and sellers.

Amazon overtakes Walmart in annual revenue

Amazon has overtaken Walmart in annual revenue for the first time, signalling a notable shift in the hierarchy of global retail. Amazon reported USD$716.9bn (£530.5bn) in revenue for 2025, surpassing Walmart’s USD$713.2bn (£527.8bn). For more than a decade, Walmart had led the Fortune 500 ranking of America’s largest companies by revenue, a position it retained as recently as the 2024 fiscal year.

Amazon’s expansion beyond online retail into higher-margin businesses, notably cloud computing, advertising and third-party seller services, has accelerated its growth trajectory. Seller services accounted for around a quarter of total revenue last year, while Amazon Web Services contributed close to a fifth. Its advertising division alone generated more than USD$68bn (£50.3bn), dwarfing Walmart’s retail media revenues of USD$6.4bn (£4.74bn).

Scopely agrees $1bn deal for Turkish game developer

Scopely has struck a deal to acquire Turkish studio Loom Games, the creator of the fast-rising puzzle app Pixel Flow, in a transaction that could reach USD$1bn (£740m). The move marks Scopely’s largest takeover since its acquisition of Niantic last year and underscores its ambition to challenge Tencent at the top of the USD$100bn (£74bn) global mobile gaming market. 

Javier Ferreira, Scopely’s co-chief executive, told the Financial Times that the company’s sales have surged at a compound annual growth rate of 50% since it was acquired bySavvy in 2023, with total revenues surpassing $4bn (£2.96bn) last year. Ferreira emphasised that the Loom deal is part of a deliberate effort to broaden Scopely’s portfolio and strengthen its position in the highly competitive mobile gaming market.