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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 👁 880K

Himaloy Himu

Bolte cheye mone hoy বলতে চেয়ে মনে হয়। Full HD music video

⏲ 3 minutes 53 seconds 👁 1.1M

TahsaaNation Films

Bolte Cheye Mone Hoy By Imran Mahmudul | Bangla New Music Video 2018

⏲ 4 minutes 8 seconds 👁 290.6K

During a severe thunderstorm in Beverly Hills, Florida, this man decided to take a video of the orchids along with the storm. As he got up from the sofa and went outside to film it, he was struck by lightning. The bolt of lightning struck a tree in the backyard, blowing it into pieces and consequently causing the man's ears to ring.<br/><br/>The underlying music rights are not available for license. For use of the video with the track(s) contained therein, please contact the music publisher(s) or relevant rightsholder(s).

Man Gets Struck by Lightning When He Tries to Take Video in Beverly Hills, Florida

⏲ 0:44 👁 865K

Impress Audio

Bolte Cheye Mone Hoy | Khude Gaanraj - 2016 | Athi | Imran| Adhunik Song | Channel i

⏲ 7 minutes 14 seconds 👁 2.9M

Creative Rashed

Bolte giye mone hoi | New Bangla Music Song - 2018

⏲ 3 minutes 53 seconds 👁 299.2K

Maxton Hall Trailer - Amazon Prime Video - Our favorite subject: their chemistry. #MaxtonHallOnPrime, based on the best-selling novel “Save Me” by Mona Kasten, arrives May 9.

⏲ 1:43 👁 325K

Nilroy official

Bolte Bolte _Cholte cholte🎧 || Bengali lofi ||imaran mahumudl | Tanjin trisha || 2022 Bangla lofi

⏲ 4 minutes 16 seconds 👁 284.3K

ShadeLyrics

Lyrical: Bolte Bolte Cholte Cholte | Imran Mahmudul

⏲ 3 minutes 53 seconds 👁 64.2K

Usain Bolt says he is \

'Like a kid in a candy store' - Usain Bolt eager to attend Paris Olympics

⏲ 0:27 👁 45K

Impress Audio

Bolte Cheye Mone Hoy | Ganer Raja | Labiba | Modern Song | Channel i

⏲ 2 minutes 25 seconds 👁 149.6K

Sangeeta Music

Bolte Bolte Cholte Cholte | Imran Mahmudul | Tanjin Tisha | বলতে বলতে চলতে চলতে | Music Video

⏲ 3 minutes 53 seconds 👁 10M

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