{"id":147127,"date":"2025-08-07T10:52:19","date_gmt":"2025-08-07T08:52:19","guid":{"rendered":"https:\/\/www.startupbusiness.it\/exit-for-wallapop-south-korean-group-naver-buys-it-for-e600-million\/147127\/"},"modified":"2025-08-07T11:55:11","modified_gmt":"2025-08-07T09:55:11","slug":"exit-for-wallapop-south-korean-group-naver-buys-it-for-e600-million","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/exit-for-wallapop-south-korean-group-naver-buys-it-for-e600-million\/147127\/","title":{"rendered":"Exit for Wallapop, South Korean group Naver buys it for \u20ac600 million"},"content":{"rendered":"\n

Wallapop, the platform for buying and selling items between private individuals, which is headquartered in Spain and completed its Series G investment round<\/a> at the beginning of last year, is now moving towards an industrial exit. South Korean group Naver, which operates in the internet sector and in technological innovation in general, has announced that it has reached an agreement with the Spanish scale-up for its acquisition at a value of \u20ac600 million with a post-money valuation of approximately \u20ac650 million<\/strong>. The transaction is supported by a large majority of shareholders and is expected to be completed in the coming months, subject to obtaining the relevant regulatory approvals. <\/p>\n\n

Supported by Naver, Wallapop is now set to accelerate its growth and innovation in Southern Europe. The future ownership will provide expertise and technology in key areas such as search, advertising and payments. Wallapop will also benefit from Naver’s extensive experience, having invested in other international consumer-to-consumer (C2C) platforms, and its expertise in helping local businesses grow. <\/p>\n\n

Wallapop will continue to operate from its Barcelona headquarters under the leadership of Rob Cassedy, the company’s CEO, serving its large user community and retaining both its employee base and its widely recognised brand.<\/strong> This approach reflects Naver’s core philosophy of valuing local excellence while preserving the unique identity of the brand, its management team and the community they have built. <\/p>\n\n

For Naver, the acquisition represents an important step in its strategy to strengthen its position in Europe. By expanding its e-commerce footprint in the region, Naver will also capitalise on the growing second-hand goods market. <\/p>\n\n

Soo-yeon Choi, CEO of Naver Corp, said in a statement: “Naver is founded on the principle of creating an open and diverse internet with multiple players. The partnership with Wallapop perfectly reflects this goal and demonstrates our strong belief in the potential of the European startup ecosystem and our desire to contribute to its growth. <\/strong> Our goal is to preserve Wallapop’s unique identity and enhance it with our technological capabilities, so that it can continue to be a market leader and expand its impact throughout Southern Europe. <\/p>\n\n

“The opportunity to collaborate with Naver marks an exciting new chapter for Wallapop,” said Rob Cassedy, CEO of Wallapop. “Naver’s deep understanding of our vision for C2C commerce, combined with their technological expertise and success in helping local businesses grow, will strengthen our path, accelerating our development and innovation in Southern Europe<\/strong>. We are incredibly proud of our achievements and, thanks to Naver’s confidence in our potential, we are ready to play an even more important role in the future of re-commerce.” <\/p>\n\n

Naver has made a series of strategic investments around the world. In 2023, it acquired Poshmark, a US-based C2C online re-commerce company for fashion, home goods and electronics. In Europe, it has invested over \u20ac500 million in 30 portfolio companies, including eight unicorns. <\/strong>. In 2017, the company acquired the Xerox research centre in Grenoble, France, now called Naver Labs Europe. The centre has become a key part of its global research and development ecosystem, engaging in continuous technology exchange. Naver intends to replicate this successful model with Wallapop. <\/p>\n\n

Founded in Barcelona in 2013, Wallapop connects a community of 19 million people who collectively create more than 100 million listings per year and find an easy and convenient way to buy and sell items they no longer use.<\/strong> The company closed 2024 breaking even in the Spanish market and exceeding \u20ac100 million in turnover. Wallapop expects revenues and profitability to reach record levels in 2025. In an average year, Wallapop users generate sales worth between \u20ac2 billion and \u20ac2.5 billion, while also making a significant positive impact on the environment. By buying and selling second-hand products instead of new ones, users have collectively contributed to saving 467,000 tonnes of CO2 in 2024 alone, which is roughly equivalent to eliminating all traffic in Barcelona for six months of the year, according to research carried out by Wallapop itself in collaboration with Deloitte. <\/p>\n\n

Previous investors in Wallapop include Korelya, Insight Venture Partners, Accel, NEA, Northzone, and Axis through Fond-ICO Next Tech. (photo by Luba Glazunova <\/a>on Unsplash<\/a><\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

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Co-fondatore di Designtech, l\u2019hub di innovazione che avvicina il mondo del design con quello della tecnologia. Advisor di Austrian Business Agency, Emil Banca, Fondazione Symbola, Fondazione Quadrans. Partecipa regolarmente a incontri, convegni, conferenze dedicate all\u2019ecosistema dell\u2019innovazione. E\u2019 stato co-organizzatore degli Italian Innovation Day and Series che si sono svolti dal dal 2016 al 2020 nelle citt\u00e0 di Tokyo in Giappone, Melbourne, Adelaide, Perth, Canberra in Australia e Singapore e co-organizzatore dell\u2019Italy India Innovation Day di AIICP 2021 e 2022. Ha curato il volume \u2018L\u2019innovazione che non ti aspetti. Contesti e visioni per l\u2019impresa\u2019 , l\u2019edizione italiana di \u2018La startup digitale, guida pratica step by step\u2019 e ha scritto la prefazione all\u2019edizione italiana de \u2018La quarta era\u2019 di Byron Reese, ed \u00e8 co-autore di \u2018Cosa e Dove: strategie digitali di ricerca del lavoro\u2019, tutti editi da FrancoAngeli. In passato \u00e8 stato curatore di StartupDigest Italy, coordinatore scientifico del Forum per la Ricerca della Provincia Autonoma di Trento, board member di TechChill Milano advisor di di ScaleIT , ha collaborato con Il Sole 24 Ore \u00e8 stato direttore di Innov\u2019azione, bimestrale edito da Apsti, ha collaborato con Corriere Innovazione ed \u00e8 stato presidente del comitato di selezione del Premio Marzotto e advisor di Cetif-Universit\u00e0 Cattolica Milano.","sameAs":["https:\/\/www.abirascid.com\/","https:\/\/www.linkedin.com\/in\/emilabirascid","https:\/\/x.com\/emilabirascid"],"url":"https:\/\/www.startupbusiness.it\/en\/author\/emil-abirascid\/"}]}},"author_name":"Emil Abirascid","categories_names":["Scaleup"],"_links":{"self":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/147127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/comments?post=147127"}],"version-history":[{"count":1,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/147127\/revisions"}],"predecessor-version":[{"id":147128,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/posts\/147127\/revisions\/147128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media\/147110"}],"wp:attachment":[{"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/media?parent=147127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/categories?post=147127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/tags?post=147127"},{"taxonomy":"companies","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/companies?post=147127"},{"taxonomy":"journalist","embeddable":true,"href":"https:\/\/www.startupbusiness.it\/en\/wp-json\/wp\/v2\/journalist?post=147127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}