South Korean tech company Naver has purchased the Spanish second-hand marketplace Wallapop for €600 million, raising its post-acquisition value to €650 million. The deal, announced in cooperation between Seoul and Barcelona on August 5, 2025, is subject to regulatory approval and is expected to finalize within the upcoming months.
Wallapop, founded in Barcelona in 2013, serves 19 million monthly users and creates over 100 million listings annually.
The company attained profitability in 2024 with over €100 million in revenue, anticipating higher figures in 2025. Last year, Wallapop helped reduce CO₂ emissions by 467,000 tons.
In accordance with the terms, Wallapop will maintain its independence while continuing operations from its headquarters in Barcelona.
Naver plans to support growth through technology integration in areas such as search, payments, and advertising.
This acquisition indicates an essential step in Naver's European expansion strategy.
It follows the acquisition of U.S.-based Poshmark in 2023 and investments surpassing €500 million in over 30 European tech companies. Wallapop's robust profitability and positive environmental impact made it an attractive target for Naver, which reported €7.27 billion in revenue in 2024 and ranks among the top five publicly listed Korean companies by market cap.
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