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Photo by Judita Grigelytė (VŽ).
Trading platform Vinted suffered $ 20.88 million last year. Net loss in euros: 16.3% more than in 2019.
Vinted’s report said it increased losses by 24% last year to $ 72.52 million. Eur increased investment in marketing.
“We recorded a loss on Vinted’s financial statements for one simple reason: we reinvested in active development,” said Vaidotas Urba, the company’s chief financial officer.
According to him, Vinted could be profitable if he opted for a less development-oriented business strategy.
“However, we have ambitious goals that we would not achieve if we only operate in a few markets,” Urba said.
The company’s parent company revenue increased 78.6% last year to 149.89 million. EUR. Financial results for the entire Vinted Group are expected to be announced later this year, BNS writes.
During this year’s investment round, Vinted was valued at $ 3.5 billion. EUR.
In 2019, Vinted became the first Lithuanian “unicorn”, a very successful initiator, whose value exceeds one billion. EUR.
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