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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.")
_will-i-am-on-friendship-with-michael-jackson-amp-tupac-prince39s-rivalry-eazy-e-amp-more-124-drink-champs.webp "REVOLT")
will.i.am On Friendship With Michael Jackson & Tupac, Prince's Rivalry, Eazy-E & More | Drink Champs
⏲ 2 hours 20 minutes 18 seconds 👁 122.4K
_from-the-streets-to-city-hall-andre-taylor-amp-dupre-kelly-discuss-political-influence-124-tez-on-ten.webp "REVOLT")
⏲ 4 minutes 34 seconds 👁 974
_antisemitic-statements-lead-to-evacuation-student-protests-escalate.webp "Antisemitic Statements Lead to Evacuation: Student Protests Escalate <br/> @TheFposte<br/>____________<br/><br/>Subscribe to the Fposte YouTube channel now: https://www.youtube.com/@TheFposte<br/><br/>For more Fposte content:<br/><br/>TikTok: https://www.tiktok.com/@thefposte_<br/>Instagram: https://www.instagram.com/thefposte/<br/><br/>#thefposte #campus #students #protest")
_fubu39s-guerrilla-marketing-tactics-owning-3905-and-bypassing-mtv.webp "REVOLT")
_from-costco-to-ralph-lauren-fubu-founders-discuss-retail-strategy.webp "REVOLT")
_felix-the-cat-in-felix-revolts.webp "Felix the Cat inFelix Revolts from revolt")
_da39vinchi-on-overcoming-poverty-prioritizing-peace-purpose-amp-mental-health-124-the-blackprint.webp "REVOLT")
⏲ 58 minutes 31 seconds 👁 59K
_fubu-founders-on-building-a-fashion-legacy-untold-stories-struggles-future-amp-more-124-drink-champs.webp "REVOLT")
⏲ 3 hours 18 minutes 12 seconds 👁 91.4K
_the-role-of-rappers-amp-hip-hop-in-drug-narratives-124-tez-on-ten.webp "REVOLT")
_stephen-a-smith-on-cultivating-relationships-amp-maintaining-integrity-in-sports-media.webp "REVOLT")
⏲ 10 minutes 59 seconds 👁 2.9K
_stephen-a-smith-debates-drake-vs-kendrick-lamar-quicktime-with-slime.webp "REVOLT")
⏲ 15 minutes 14 seconds 👁 52.5K
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