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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.
How Lithuanian Startup Vinted Spun Secondhand Clothes Sales Into Gold | Forbes
⏲ 5:56 👁 1.4M
Kensho Quest
MERINO WOOL DRESSES! 👗 Minimalist Travel Wardrobe: Capsule vs. Uniform
⏲ 22 minutes 18 seconds 👁 12.8K
YJ WORLD
BEST STREETWEAR WEBSITES FOR FIRE CHEAP DRIP‼️🔥
⏲ 12 minutes 52 seconds 👁 47.4K
NASCAR may be in Phoenix for its Cup Series Championship but, during the proceedings, there will be vibes similar to the galaxy far, far away, thanks to Bubba Wallace and Columbia. Wallace will take to the track in a custom-wrapped car made to look like the iconic X-Wing, which (as those who've watched the \
NASCAR's Bubba Wallace Says Ryan Blaney Is 'Super Jealous' Of His 'Star Wars'-Themed Car For Series Championship, But It's His Comments On Meeting Mark Hamill That Make Me Envious
⏲ 1:14 👁 41M
Paul Soles
Where To Buy Anime Streetwear Clothing 🔥 | Ask Soles (Ep.17)
⏲ 13 minutes 25 seconds 👁 19.7K
kitty snow
www.woolrichonlinesale.com Woolrich Men Jackets Online
⏲ 41 seconds 👁 15
When Mighty Morphin’ Power Rangers premiered in 1993, the original lineup of teenagers with attitude including Austin St. John as Jason, the Red Ranger, and Amy Jo Johnson as Kimberly, the Pink Ranger. Both actors would end up leaving Mighty Morhpin’ before it finished its run, but they’re still closely associated with the Power Rangers franchise, and have even returned to their old stomping grounds on one or more occasions. However, following St. John revealing that he has a clothing line coming out featuring Hitler quotes, Johnson has bluntly responded to this apparel choice.
Power Rangers' Original Red Ranger Actor Is Launching A Clothing Line Featuring Hitler Quotes, And Amy Jo Johnson Bluntly Responded
⏲ 1:26 👁 1M
Urban Lad
Woolrich Flannel Shirt Review
⏲ 9 minutes 28 seconds 👁 417
kitty snow
www.woolrichanorak.com Shop Mens Woolrich Parka Arctic Online at Affordable Price
⏲ 37 seconds 👁 57
Tyrone White was a member of the 65 Menlo Gangster faction of the Crips gang in South Central Los Angeles during the late '80s and '90s, witnessing police brutality and the LA riots. White speaks with Business Insider about the culture of the Crips and the rivalry with the Bloods. He talks about money-making activities, clothing, and music.<br/><br/>Andy \
How 9 gangs and Mafias actually work — from the Crips to the Hells Angels
⏲ 3:5:19 👁 230K
One Man Reviews
Why Woolrich Laminated Parka is the Best Coat for Cold Winter
⏲ 6 minutes 13 seconds 👁 14K
JustToughStuff
Woolrich Hunt Coat | American Heritage Brand Review
⏲ 1 minute 42 seconds 👁 4.6K
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