A new chapter for Wallapop: accelerating our vision with NAVER
I'm pleased to announce that the vast majority of our shareholders have approved NAVER Corp's offer to acquire Wallapop, marking the beginning of an exciting new chapter for our company.
Since being founded in Barcelona in 2013, Wallapop has experienced immense growth. We've built a vibrant community of 19 million people across Southern Europe who engage with us monthly, creating over 100 million listings each year of items they no longer use. This isn't just about transactions; it's about driving profound economic and environmental impact. Our community typically generates between €2 billion and €2.5 billion in sales annually and, in 2024 alone, buying and selling reused items through Wallapop helped save 467,000 tons of CO2, equivalent to taking every car off Barcelona's roads for six months.
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. Today, we help users list items seamlessly and discover products with unprecedented personalization. Our Wallapop Envíos service now intermediates 60% of all transactions, and we've become the leading destination in Spain for reused cars by listing volume.
NAVER Corp's deep understanding of our vision for C2C commerce, combined with their technological expertise and proven track record in helping local companies to scale, will supercharge our journey, accelerating our growth and innovation in Southern Europe. 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.
Moving forward, Wallapop will continue to operate from our Barcelona headquarters, maintaining our 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. The economic potential is undeniable: our "La Red del Cambio" report shows that second-hand trading in Spain generates €13 billion annually, representing 0.86% of the national GDP.
We look forward to creating a successful future together, empowering even more individuals to participate in a more conscious consumption model that unlocks economic opportunities for people.
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