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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.")
_breaking-treasury-dispute-update-124-sba-has-authority-to-reverse-eidl.webp "EIDL Loan Experts | Linda Rey u0026 Trevor")
_sba-eidl-treasury-recall-letter.webp "Skip")
_locals-amp-visitors-label-saundersfoot-harbours-new-car-park-system-greed.webp "Motorists using Saundersfoot harbour’s car park have shared their anger at being caught out by the facility’s new ANPR camera system, which is operating 24 hours a day, with many also highlighting confusion over a grace period for those entering the area<br/>Drivers entering the seaside car park have been warned to be on the watch out if they’re thinking of pulling up to enjoy the seaside view for a short while, as a newly introduced enforcement system in operation, could see them caught out with a £100 fine, with parking enforcement now undertaken and managed by Britannia Parking.<br/>“There is a new system in operation and if you’re using the car park, please make sure you purchase a ticket!” warned county councillor for the village’s south ward Cllr Chris Williams recently.<br/>Anyone issued with a fine has the option to raise a dispute or any mitigating circumstances with the firm directly, with contact details for Britannia Parking included on each of the enforcement signs around the car park.<br/>However, many boat users have queried whether there is a grace period to gain access to their moorings. Some have sought clarification to be told by harbour staff that it is 20 minutes, whilst others insist that if your vehicle enters the car park for longer than 10 minutes, without purchasing a ticket, you will receive notice of a hefty fine in the post.<br/>“I have asked more than once for a simple answer to a simple question - how long is the ‘grace period’ the harbour has agreed with the parking company so we can all know if you have one minute to drop or collect someone for work or if you have five?” one local resident posted on Facebook.<br/>“What about guests driving to the marine centre to drop off their luggage when they check in. The charge is to ‘use the car park’ even if you don’t park. <br/>“That’s what will make the company thousands of pounds this summer and ruin a lot of holidays when visitors receive their surprise ticket or tickets on returning home.<br/>“Anyone launching boats, fuelling boats, collecting trailers, dropping off kayaks, picking up workers at the end of the day etc are all money making opportunities with this new charge.<br/>“I feel most for the older people or those with mobility issues who drive down late in the evening and purchase fish and chips - to take away. They now have to pay to park. It’s all just an opportunity for money now. Greed!”")
_sba-eidl-loan-deferment-amp-forgiveness-12-1.webp "Small Biz")
_tennessee-passes-bill-allowing-teachers-to-carry-guns.webp "Tennessee Passes Bill , Allowing Teachers to Carry Guns.<br/>The Tennessee House of Representatives passed the bill by a vote of 68-28 on April 23, CBS News reports.<br/>The legislation would grant some teachers <br/>and staff the right to carry concealed <br/>handguns at public schools.<br/>The bill will now be sent to Republican <br/>Gov. Bill Lee to either sign or veto. .<br/>If signed into law, the legislation would represent the largest expansion of gun access in Tennessee since the deadly shooting at <br/>The Covenant School in Nashville last year.<br/>Teachers and staff carrying guns would only be known to administrators and police.<br/>Teachers and staff carrying guns would only be known to administrators and police.<br/>Other teachers and students' parents <br/>would not be privy to the information. .<br/>If a school worker wants to carry a handgun, they'd have to have a \")
_new-hope-from-biden-parole-in-place-immigration-news-usa-today.webp "Alena Shautsova")
_interview-with-sba-director-on-eidl-goodwill-period.webp "Skip")
_how-lithuanian-startup-vinted-spun-secondhand-clothes-sales-into-gold-124-forbes.jpg)
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