Etsy Appoints Kruti Patel Goyal CEO of Depop Fashion Recommerce Marketplace | Promotes Nick Daniel to Chief Product Officer of Etsy
Etsy, which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced that Kruti Patel Goyal, currently Etsy’s Chief Product Officer, has been named Chief Executive Officer of its subsidiary Depop, a global fashion resale marketplace, effective September 12, 2022.
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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.
With Kruti’s transition to her new role, Etsy has promoted Nick Daniel, Vice President of Product Management, to Chief Product Officer.
“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.”Josh Silverman, Chief Executive Officer, Etsy
“She has guided Etsy through periods of significant transformation, with a proven track record of motivating teams to deliver results and advance our mission,” added Silverman.
Kruti Patel Goyal Is Etsy Veteran
Kruti possesses 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 the company’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.
Nick has been with Etsy for more than eight years and currently serves as Vice President of Product Management.
Over the course of his tenure, Nick has led highly-technical, complex, and cross-functional initiatives that have unlocked significant value for Etsy’s customers and stakeholders.
He championed the expansion and optimization of Etsy Ads and oversaw efforts to create a more personalized shopping experience, improve the selling platform, and scale Etsy’s marketing technology capabilities.
“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,“ said Silverman.
“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,” added Silverman.
“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 outgoing Depop CEO 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,” added Raga.
Kruti Patel Goyal
Kruti Patel Goyal 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.”
Nick Daniel added, “Etsy’s product development culture enables us to rapidly test new features, respond to evolving customer needs, and harness the power of technology to foster human connections. I look forward to working with the teams as we continue to create a differentiated shopping experience for buyers while bringing new opportunities to millions of creative entrepreneurs around the world.”
Both Kruti and Nick will report to Etsy CEO Josh Silverman, and Nick will join Etsy’s executive team. Kruti will relocate from New York to London, where Depop is headquartered. Depop’s talented leadership team that previously reported to Maria will report to Kruti.
Etsy acquired Depop in 2021 for 1.625 Billion to enter the fast-growing fashion recommerce marketplace niche.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.