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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.")
_novena-to-st-jude-desperate-situations-amp-hopeless-cases.webp "The Catholic Crusade")
_jude-a-warning-for-the-body-of-christ.webp "Calvary Chapel Ontario")
_39bellingham-will-be-a-legend-for-a-long-time39-claims-ex-madrid-star-raul.webp "Real Madrid icon Raul was full of praise for Jude Bellingham at the 2024 Laureus awards")
_chaplet-of-saint-jude-for-urgent-favors-amp-desperate-situations.webp "The Catholic Crusade")
_powerful-prayer-to-st-jude-for-urgent-financial-help-amp-financial-breakthrough.webp "The Catholic Crusade")
⏲ 6 minutes 38 seconds 👁 413.3K
_ricky-stanicky-2024.webp "Ricky Stanicky is a 2024 American comedy film co-written and directed by Peter Farrelly. The film stars Zac Efron, Jermaine Fowler, Andrew Santino, Lex Scott Davis, Anja Savcic, Jeff Ross, William H. Macy, and John Cena. The story sees a group of friends who use their created imaginary person named Ricky Stanicky since childhood to avoid their responsibilities, and decide to hire an actor to pose as Ricky when their families start getting suspicious.")
_the-beatles-hey-jude.webp "The Beatles")
_st-jude-prayer-for-employment.webp "Novenas")
_mars-express-124-official-english-trailer-2024.webp "In 2200, private detective Aline Ruby and her android partner Carlos Rivera are hired by a wealthy businessman to track down a notorious hacker. On Mars, they descend deep into the underbelly of the planet’s capital city where they uncover a darker story of brain farms, corruption, and a missing girl who holds a secret about the robots that threatens to change the face of the universe.")
_jude-session-6-verses-11-13-chuck-missler.webp "Koinonia House")
_st-jude39s-church-the-fourth-sunday-of-easter-april-21-2024-at-800-a-m.webp "St Jude's Stony Hill Ja")
⏲ 2 hours 2 minutes 45 seconds 👁 95
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