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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 👁 1.5M
Banglavision DRAMA
Full Mental Jamai | ফুল মেন্টাল জামাই | Mosharraf Karim | Tania Brishty | Shakal | NEW EID NATOK
⏲ 50 minutes 56 seconds 👁 276.5K
SBE
Dottok | দত্তক | Yash Rohan | Totini। Pothik Shadhan। New Bangla Natok 2024 | Eid Special Drama
⏲ 54 minutes 42 seconds 👁 80.1K
Usain Bolt believes the Caribbean fun will make for an unforgettable T20 World Cup
Bolt backs West Indies to bring Caribbean spirit to T20 World Cup
⏲ 0:48 👁 20K
Ekattor TV
মুস্তাফিজ তো তাবিজ করে ফেলেছেন ভারতীয়দের ! | Khelajog | Ekattor TV
⏲ 3 minutes 12 seconds 👁 11.8K
EthioPost
Usain Bolt's Funniest Moments
⏲ 4 minutes 35 seconds 👁 297.5K
A mum makes more than £10k-a-year hand-crafting earrings and bracelets out of - beer cans.<br/><br/>Carys Miles, 40, launched her unique business, Craft Beerings, five years ago after finishing a can of craft beer.<br/><br/>Fascinated by the quirky and colourful designs of the cans and desperate for a creative venture, Carys got to work.<br/><br/>She decided to carefully cut and flatten the vibrant cans before cutting them into different shapes - such as studs, hearts and lightning bolts.<br/><br/>The raw material is then dried out before being applied to earring mounts - with Carys able to make five pairs of earrings from one can.<br/><br/>Though she usually batch-makes the earrings, Carys says she can convert a can to a pair in just 30 minutes.<br/><br/>She doesn't add any gloss to the final earrings, with some pairs featuring shiny overlays whilst others are more papery, representing the true texture of the can.<br/><br/>Carys made over 960 pairs of the earrings last year and sells them online and at craft fairs for between £10 - £17.50.<br/><br/>Carys, who runs the business full-time , from Colchester, Essex, said: \
Mum makes £10k-a-year hand-crafting earrings and bracelets out of - BEER cans
⏲ 0:17 👁 20K
ITV Sport
Roy Keane and Ian Wright full of admiration for Usain Bolt | ITV Sport
⏲ 5 minutes 31 seconds 👁 212.2K
Olympics
The Fastest Man Alive | Bolt
⏲ 18 minutes 22 seconds 👁 693K
Usain Bolt says he is \
'Like a kid in a candy store' - Usain Bolt eager to attend Paris Olympics
⏲ 0:27 👁 60K
Television Jamaica
Usain Bolt Breaks his Silence on Multi-Million US Dollars Fraud Case at SSL
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Talk u Mind Tv.
USAIN BOLT MONEY GONE
⏲ 16 seconds 👁 899
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