By  on October 17, 2013

Red Circle Investments, the private investment holding of Renzo Rosso’s family, along with Italian entrepreneur Luca Marzotto, have invested $1 million in Depop, the iPhone app created by Simon Beckerman, cofounder of independent PIG Magazine and eyewear company Super.

Launched in 2011, Depop enables people to easily sell and buy items from an iPhone. After registering and creating a profile, users can take a picture of the objects they want to sell. The images, which are also shared on Facebook and Twitter, are visible to all Depop’s users, which can directly purchase the selected items. Depop, which currently features more than 100,000 registered users and more than 1 million items for sale, receives a percentage of sales that are processed through PayPal.

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