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How Lithuanian Startup Vinted Spun Secondhand Clothes Sales Into Gold | Forbes
⏲ 5:56 👁 1M
Pedestrian bridge collapses on motorway
⏲ 1 minute 39 seconds 👁 1.6K
Thousands of lorrys stuck on M20 after French Channel strike - Daily Mail
⏲ 2 minutes 41 seconds 👁 12
Watch: Dubai resident serves as traffic cop on flooded road after heavy rains
⏲ 0:46 👁 114.7M
Thousands of lorries queue outside Dover after P&O Ferries disruption
⏲ 1 minute 6 seconds 👁 34.9K
Shocking video shows HGV driver undertake and use phone
⏲ 1 minute 12 seconds 👁 150.5K
Residents evacuated as heavy rainfall floods southern Chinese cities
⏲ 1:14 👁 9.2M
Aerial footage shows huge 4.5 mile tailback after M20 bridge collapse
⏲ 48 seconds 👁 4.7K
Heavy Rain Causes Mayhem On The M25 | Britain's Busiest Motorway E5 | Our Stories
⏲ 20 minutes 18 seconds 👁 271.7K
Watch: Elephant runs through traffic in Montana town after circus escape
⏲ 0:29 👁 3.8M
Woman horrified after checking dashcam following trip to mechanic | A Current Affair
⏲ 5 minutes 30 seconds 👁 2.1M
Belfast Grand Central Station on track for Autumn 2024
⏲ 2:29 👁 2.8M
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_how-lithuanian-startup-vinted-spun-secondhand-clothes-sales-into-gold-124-forbes.webp "Thomas Plantenga bet the future of Vinted on a television advertisement. The secondhand clothing resale app was burning $1 million per month and had less than a year of cash left when Plantenga made an $800,000 gamble on French television. It was May 2016, and Plantenga had recently been hired to save the eight-year-old Lithuanian startup. After its founding at a college party in 2008, Vinted had grown rapidly as people from 10 countries used its platform to buy and sell secondhand clothes. <br/><br/>But it was free for users, barely covering its server costs with advertising, and an attempt in 2014 to bolt on a Poshmark-style 20% sales commission resulted in a user revolt. Traffic almost halved overnight. The Netherlands-born Plantenga, who had never been to Lithuania, signed up for a five-week gig as a consultant in May 2016. He ended up becoming Vinted’s CEO 18 months later.<br/><br/>Seven years later, Vinted is one of Europe’s largest consumer marketplaces, with over $600 million of revenue in 2023. It now counts 100 million users globally. Last year, it posted its first annual profit—at least $20 million—distinguishing it from its loss-making American cousins including The RealReal (valued at $360 million), ThredUp ($200 million) and Poshmark (sold for $1.2 billion). Vinted became the Baltic nation’s first unicorn in 2019 when it raised $140 million at a $1.1 billion valuation, and sales have since grown sixfold. <br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/iainmartin/2024/04/15/how-lithuanian-startup-vinted-spun-secondhand-clothes-sales-into-gold/?sh=5a47e3eaa3f0<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_pedestrian-bridge-collapses-on-motorway.webp "On Demand News")
_thousands-of-lorrys-stuck-on-m20-after-french-channel-strike-daily-mail.webp "Daily Mail")
_watch-dubai-resident-serves-as-traffic-cop-on-flooded-road-after-heavy-rains.webp "The solidarity that the country has displayed in the last few days has taken social media by storm")
_thousands-of-lorries-queue-outside-dover-after-pampo-ferries-disruption.webp "Guardian News")
_shocking-video-shows-hgv-driver-undertake-and-use-phone.webp "Daily Mail")
_residents-evacuated-as-heavy-rainfall-floods-southern-chinese-cities.webp "Residents were evacuated as heavy rainfall flooded southern Chinese cities.Source: CCTV / AP")
_aerial-footage-shows-huge-4-5-mile-tailback-after-m20-bridge-collapse.webp "The Telegraph")
_heavy-rain-causes-mayhem-on-the-m25-124-britain39s-busiest-motorway-e5-124-our-stories.webp "Our Stories")
_watch-elephant-runs-through-traffic-in-montana-town-after-circus-escape.webp "Elephant breaks free from Circus, causing chaos in Montana town shia.labeau/TikTok")
_woman-horrified-after-checking-dashcam-following-trip-to-mechanic-124-a-current-affair.webp "A Current Affair")
_belfast-grand-central-station-on-track-for-autumn-2024.webp "Belfast Grand Central Station, Northern Ireland's flagship infrastructure project, continues to progress at pace and is set to open to the public this autumn. <br/>The internal fit out is well underway, alongside work to the bus stands, rail platforms, track and signalling infrastructure.")
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