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_how-lithuanian-startup-vinted-spun-secondhand-clothes-sales-into-gold-124-forbes.jpg "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.")
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_flash-marriage-with-my-alpha-19.jpg "Flash Marriage with my Alpha_19")
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_ghalti-ep-17-aplus-gold.jpg "Ghalti - EP 17 - Aplus Gold<br/><br/>A story of two sisters who do not live together and are even unaware of the fact that they are sisters. One of them lives with their parents and the other has been adopted by her aunt. As they grow up, their cousin enters the scene<br/><br/>Written by: Iftikhar Ahmad Usmani<br/>Directed by: Kaleem Rajput<br/><br/>Cast:<br/>Agha Ali<br/>Saniya Shamshad<br/>Sidra Batool<br/>Abid Ali<br/>Sajida Syed<br/>Shehryar Zaidi<br/>Lubna Aslam<br/>Naila Jaffri")
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_robot-chicken-season-1-episode-3-gold-dust-gasoline.jpg "Robot Chicken Season 1 Episode 3 Gold Dust Gasoline")
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_vampire-survivors-operation-guns-124-contra-amp-ps-announce-trailer.jpg "Watch the latest trailer for Vampire Survivors to see what to expect wtih the Operation Guns DLC featuring Contra, ahead of its release on Xbox, PC, and Nintendo Switch on May 9, 2024. The trailer also reveals that Vampire Survivors is coming to PS4 (PlayStation 4) and PS5 (PlayStation 5) in summer 2024. <br/><br/>Vampire Survivors is a time survival game with minimalistic gameplay and roguelite elements. Hell is empty, the devils are here, and there's no place to run or hide. All you can do is survive as long as you can until death inevitably puts an end to your struggles. Gather gold in each run to buy upgrades and help the next survivor. The supernatural indie phenomenon that lets you be the bullet hell!<br/>")
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_top-10-dress-in-the-world.jpg "Here is a sample description for a traditional Chinese dress:<br/><br/>_Product Name:_ Traditional Chinese Cheongsam Dress - \")
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_how-crucial-has-matheus-cunha-been-for-gary-oneils-wolves-side-this-season.jpg "A look at Wolves with their undeniable talent in Matheus Cunha who’s back into the side and back amongst the goals. He’s been a joy to watch for the fans this season, who whilst European dreams are now over, are looking to stabilise in the summer.")
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_pbs-doping-for-gold.jpg "PBS_Doping for Gold from silena39s gold")
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_ghalti-ep-14-aplus-gold.jpg "Ghalti - EP 14 - Aplus Gold<br/><br/>A story of two sisters who do not live together and are even unaware of the fact that they are sisters. One of them lives with their parents and the other has been adopted by her aunt. As they grow up, their cousin enters the scene<br/><br/>Written by: Iftikhar Ahmad Usmani<br/>Directed by: Kaleem Rajput<br/><br/>Cast:<br/>Agha Ali<br/>Saniya Shamshad<br/>Sidra Batool<br/>Abid Ali<br/>Sajida Syed<br/>Shehryar Zaidi<br/>Lubna Aslam<br/>Naila Jaffri")
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_hundreds-of-anzac-day-services-held-across-queensland.jpg "Queenslanders have paused to mark the national day of remembrance. Hundreds of Anzac Day services were held across the state from major cities to small regional towns, acknowledging the sacrifices made by the nation's servicemen and women.")
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_red-monarch-jack-gold-1983.jpg "Red Monarch (Jack Gold, 1983) from silena39s gold")
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_dubai-city-of-gold-124-visit-dubai.jpg "Dubai City Of Gold | Visit Dubai")
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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.")
_flash-marriage-with-my-alpha-19.webp "Flash Marriage with my Alpha_19")
_ghalti-ep-17-aplus-gold.webp "Ghalti - EP 17 - Aplus Gold<br/><br/>A story of two sisters who do not live together and are even unaware of the fact that they are sisters. One of them lives with their parents and the other has been adopted by her aunt. As they grow up, their cousin enters the scene<br/><br/>Written by: Iftikhar Ahmad Usmani<br/>Directed by: Kaleem Rajput<br/><br/>Cast:<br/>Agha Ali<br/>Saniya Shamshad<br/>Sidra Batool<br/>Abid Ali<br/>Sajida Syed<br/>Shehryar Zaidi<br/>Lubna Aslam<br/>Naila Jaffri")
_robot-chicken-season-1-episode-3-gold-dust-gasoline.webp "Robot Chicken Season 1 Episode 3 Gold Dust Gasoline")
_vampire-survivors-operation-guns-124-contra-amp-ps-announce-trailer.webp "Watch the latest trailer for Vampire Survivors to see what to expect wtih the Operation Guns DLC featuring Contra, ahead of its release on Xbox, PC, and Nintendo Switch on May 9, 2024. The trailer also reveals that Vampire Survivors is coming to PS4 (PlayStation 4) and PS5 (PlayStation 5) in summer 2024. <br/><br/>Vampire Survivors is a time survival game with minimalistic gameplay and roguelite elements. Hell is empty, the devils are here, and there's no place to run or hide. All you can do is survive as long as you can until death inevitably puts an end to your struggles. Gather gold in each run to buy upgrades and help the next survivor. The supernatural indie phenomenon that lets you be the bullet hell!<br/>")
_top-10-dress-in-the-world.webp "Here is a sample description for a traditional Chinese dress:<br/><br/>_Product Name:_ Traditional Chinese Cheongsam Dress - \")
_how-crucial-has-matheus-cunha-been-for-gary-oneils-wolves-side-this-season.webp "A look at Wolves with their undeniable talent in Matheus Cunha who’s back into the side and back amongst the goals. He’s been a joy to watch for the fans this season, who whilst European dreams are now over, are looking to stabilise in the summer.")
_pbs-doping-for-gold.webp "PBS_Doping for Gold from silena39s gold")
_ghalti-ep-14-aplus-gold.webp "Ghalti - EP 14 - Aplus Gold<br/><br/>A story of two sisters who do not live together and are even unaware of the fact that they are sisters. One of them lives with their parents and the other has been adopted by her aunt. As they grow up, their cousin enters the scene<br/><br/>Written by: Iftikhar Ahmad Usmani<br/>Directed by: Kaleem Rajput<br/><br/>Cast:<br/>Agha Ali<br/>Saniya Shamshad<br/>Sidra Batool<br/>Abid Ali<br/>Sajida Syed<br/>Shehryar Zaidi<br/>Lubna Aslam<br/>Naila Jaffri")
_hundreds-of-anzac-day-services-held-across-queensland.webp "Queenslanders have paused to mark the national day of remembrance. Hundreds of Anzac Day services were held across the state from major cities to small regional towns, acknowledging the sacrifices made by the nation's servicemen and women.")
_red-monarch-jack-gold-1983.webp "Red Monarch (Jack Gold, 1983) from silena39s gold")
_dubai-city-of-gold-124-visit-dubai.webp "Dubai City Of Gold | Visit Dubai")
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