Wallapop
👤 Miguel Vicente (Co-founder via Antai, his venture builder; earlier founded LetsBonus, sold to LivingSocial. A serial marketplace maker.)🌐 siteLinkedIn
Free C2C market for used goods; earns on shipping and seller ads, not listings. €2B ($2.2B) trades, keeps about 5%.
Will it work? · our read
Spain's default. A free horizontal marketplace that beat global giants by owning liquidity, then charged for shipping and seller ads instead of listings. Vinted took fashion; Naver bought the rest.
01How the money moves
List used items free
→
Buyer checks out via Wallapop shipping
→
Fee on each shipment + paid visibility
02The numbers
€101M ($110M)EstimateFY2024 revenue (+13% YoY)
FY2024 (accounts filed 2025)source:
EUR 101M (FY2024 annual accounts)
Revenue is fees on shipping (€74M, 73%) plus seller visibility (€22M); Wallapop never charges to list.
About €2B ($2.2B) in goods trades yearly; Wallapop keeps about 5% as fees.
🔒
You have the verdict. Members get the work behind it.
- The CENTS scorecard — where it's strong, where it's soft
- The founder's key move, and the counter-move
- How it could die — the evidence, and how sure we are
- The case against our own call
- A 🚀 launchpad prompt — the case, as a plan for your business
We rate our own confidence — and argue against ourselves. Nobody else in this category does.
Sources always public on all 576 cases · cancel anytime · 14-day refund
See a full teardown, free → ImportYetiSourcesSources last checked 4 September 2026
El Espanol — FY2024 accounts: €101M revenue, €89M in 2023, €25M loss, Envios €74M / visibility €22MNaver Corp press release — 70.5% stake for €377M, 19M+ MAU, prior 29.5% (2021/2023)Scalable — €2B+ GMV (2024), 180M listings, shipping/visibility modelWikipedia — Wallapop history, 2013 Barcelona founding, Antai backing
Revenue €101M is Wallapop's FY2024 Spanish annual accounts as reported by El Espanol; we read the press page, not the filing at the Registro Mercantil itself, so sourced=STATED and verified=false. Same source gives €89M FY2023, €25M net loss, and the €74M shipping / €22M visibility split. 19M+ MAU and the €377M for 70.5% Naver deal (Aug 2025; Naver had a prior 29.5%, now about 99.5%) are from Naver's own press release — first-party. €2B GMV (2024) is from Scalable, a secondary source; GMV is buyer spend, not Wallapop's revenue. Take rate 'about 5%' is our arithmetic (€101M revenue / €2B GMV). Currency: €101M converted at about 1.09 to $110M; €2B to $2.2B; €74M to $81M. We never score you.