The transaction was announced back in August 2025, as we reported here, and has now been completed: Naver, the South Korean giant operating in the internet and technological innovation sectors, has announced that it has completed the acquisition of Wallapop, the conscious consumption platform. The transaction, valued at €600 million, with a post-money valuation of approximately €650 million, has obtained all necessary regulatory approvals and meets all conditions for closing.
This acquisition strengthens Naver’s strategic position, securing a solid presence in the rapidly growing online second-hand goods market in Europe. Naver will support Wallapop with its extensive experience and cutting-edge technologies in areas such as artificial intelligence, search, advertising, payments and other areas to further enhance the platform’s capabilities and added value. In line with Naver’s philosophy of promoting local excellence, Wallapop will continue to operate from its offices in Barcelona under the leadership of CEO Rob Cassedy, retaining both its employee base and its widely recognised brand.
Soo-yeon Choi, CEO of Naver, said in a statement: “The finalisation of the acquisition of Wallapop marks a milestone in Naver’s European strategy and reflects our long-standing commitment to promoting an open and diverse digital ecosystem. It embodies our confidence in the strength of the European start-up landscape and our desire to contribute to its growth. We are now ready to strengthen Wallapop with our technological capabilities and experience, while preserving its unique identity, so that it can continue to lead the recommerce market and accelerate its impact across Southern Europe.
“Today marks a milestone for Wallapop,” says Cassedy. “Naver and Wallapop share a deeply aligned vision for the future of re-commerce. By combining our successes with Naver’s world-class technology, vision and experience in helping local businesses grow, we will be able to harness the enormous potential of the second-hand market, creating value for people in a sustainable way.”
The increase in the consumption of used products within Spanish society means that the trade in second-hand goods represents 13.8 billion annually, equivalent to 0.86% of Spain’s national GDP, Wallapop’s main market, as revealed in the latest La Red del Cambio report, published by Wallapop in collaboration with the Spanish business school ISDI in 2025.
In this context, Wallapop closed the 2024 fiscal year with a turnover of €101 million, an increase of 13% over the previous year. During the same period, the company reached breakeven in its Spanish market operations, taking a further step towards consolidating a consumption model supported by its more than 21 million monthly users in Southern Europe. (photo by Samuel Regan-Asante on Unsplash)
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