Barcelona-based Wallapop acquired by South Korea's NAVER Corp: Know more

Barcelona-based Wallapop, a platform for conscious and humane consumption, announced that a majority of its shareholders have approved a proposal from South Korea-based NAVER Corp to acquire the company.

Based out of Seongnam, South Korea, Naver Corporation is an internet conglomerate that operates the search engine Naver.

NAVER Corp’s acquisition is expected to accelerate Wallapop’s product innovation and geographic expansion.

“With a strong track record of scaling local platforms and a deep understanding of consumer-to-consumer (C2C) ecosystems, NAVER brings strategic value and technological depth to support Wallapop’s continued growth,” says Rob Cassedy, CEO of Wallapop, in a LinkedIn post.

Post acquisition, Wallapop will continue to operate from its Barcelona headquarters, maintaining its current leadership, strategy, and dedicated team.

“Our user experience will remain consistent, ensuring our community remains at the heart of our progress as we further lead the reuse movement in the region,” adds Cassedy.

Wallapop: Conscious and human approach to consumption

Founded in 2013, Wallapop is a hyper-local mobile marketplace for buying and selling secondhand goods, primarily accessible through a mobile app.

The company focuses on encouraging a more conscious and human approach to consumption.

“Our mission is clear: to make reusing the preferred choice for consumers in Southern Europe. We achieve this by fostering network effects and consistently integrating cutting-edge innovations,” adds Cassedy.

The company has built a community of 19M monthly users who collectively generate over 100M second-hand listings each year.

The company’s service — Wallapop Envíos now facilitates 60 per cent of all transactions and cemented its leadership position in Spain’s pre-owned vehicle market.

According to Wallapop’s report, the platform generates about €2 to €2.5B in sales each year. Overall, second-hand trading in Spain is worth €13B, which is 0.86 per cent of the country’s GDP.

Currently, Wallapop operates in Spain, Italy, and Portugal, offering a wide range of products and services, totalling in the hundreds of millions.

The platform’s impact extends far beyond digital transactions, contributing to both economic growth and environmental sustainability.

In 2024 alone, the reuse activity on Wallapop helped prevent 467,000 tons of CO₂ emissions, comparable to removing all cars from Barcelona’s roads for six months, claims the company.

Wallapop is backed by investors such as Accel, Insight Partners, and Naver Corp, with a total valuation of €806M.

“We are incredibly proud of our achievements, and with NAVER Corp’s belief in our potential, we are poised to play an even bigger role in shaping the future of recommerce,” concludes Cassedy.