Vinted eyes $500m share sale
Resale platform Vinted has launched a share sale that could value the company at $5 billion (£3.9 billion).
Investors have reportedly been contacted to assess their interest in a secondary stock offering that would involve existing shareholders offloading part or all of their stakes, according to Sky News.
If successfully completed, between $200-500 million (£156-390 million worth of shares could change hands in the deal, which is being handled by bankers at Morgan Stanley.
Although it would not involve any new capital being raised by the company, executives and investors are said to be hopeful that it will achieve a valuation of around $5 billion (£3.8 billion).
It comes three months after Vinted reported its first annual profit. The platform made a net profit of £15.2 million (€17.8 million) last year against a loss of £17.4 million (€20.4 million) in 2022. Revenues increased 61% to £509.8 million (€596.3 million).
Founded by Milda Mitkute and Justas Janauskas in 2008, Vinted is a Lithuanian online marketplace for buying, selling, and exchanging new or secondhand items, mainly clothing and accessories.
