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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 👁 670K
Stephen Travers Art
Daily Practice Made Easy for Rapid Drawing Improvement
⏲ 11 minutes 14 seconds 👁 113
The Center for Medical Education
Must Know EM - Rapid Sequence Intubation | The Advanced EM Boot Camp
⏲ 30 minutes 27 seconds 👁 15.8K
Watch how SpaceX's fully integrated Starship and Super Heavy rocket launches during a test flight but failed to separate and ended with Rapid Unplanned Disassembly (RUD) a few minutes into flight.<br/><br/>Credit: SpaceX
Watch How SpaceX Test Launches The Starship and Super Heavy Rocket
⏲ 8:27 👁 1.7M
The Fat Electrician
USAF New Rapid Dragon Weapon: A C17 Launching 45 Cruise Missiles
⏲ 4 minutes 8 seconds 👁 487.5K
rapid! PayCard
rapid! PayCard... It Will Make You Happy
⏲ 2 minutes 2 seconds 👁 11.6K
We'll never fall out of love with these romcom lines. Welcome to MsMojo, and today we’re counting down our picks of timeless quotes from romantic comedies that we love to whip out.
Top 10 Rom-Com Lines We Use All the Time
⏲ 10:1 👁 495K
Rapid Trailer
DEADPOOL & WOLVERINE Official Trailer 2 (2024) Ryan Reynolds, Hugh Jackman
⏲ 3 minutes 3 seconds 👁 5.3K
Scotts Lawn
Scotts Turf Builder Rapid Grass
⏲ 16 seconds 👁 69.2K
Notion is a productivity tool powered by AI that is making inroads on Google Docs and Microsoft Office. The company is a standout on the 2024 Forbes AI 50 list and a steady stream of Notion tutorials can be found on social media, which speaks to its rapid rise in popularity. <br/><br/>In this video, Forbes staff writer and AI 50 list editor Kenrick Cai sat down with Notion cofounder and CEO Ivan Zhao in Notion's San Francisco headquarters to learn more about the company's philosophy and approach to business. <br/><br/>Read the full story on Forbes: https://www.forbes.com/lists/ai50/ <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.
Notion Takes On Google Docs And Microsoft Office By Being Like Lego | Forbes
⏲ 12:37 👁 29.4M
XHIT Daily
Rapid Abs Workout
⏲ 11 minutes 40 seconds 👁 687.5K
Aayu and Vanu
Rapid Fire🔥With Aayu and Bhaiya🤔🤩 #aayuandvanu #travel #shorts #youtubeshorts #ytshorts
⏲ 1 minute 👁 60.7K
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