Secondhand style platform Vinted is contemplating a secondary share sale, value greater than 200 million euros. The platform, which is at the moment working at a loss, is trying into its capital construction. Because of this is at the moment not planning an IPO.
In 2021, the Lithuanian secondhand style market made 118 million euros in losses. In Could that yr, it raised 250 million euros in progress capital from traders. The corporate was then valued at 3.5 billion euros.
Income progress of 51%
Final yr, the corporate generated a income of 370.2 million euros, which was a progress of 51 p.c in comparison with a yr earlier. Its pre-tax losses narrowed, to 47.1 million euros.
Vinted’s pre-tax losses narrowed to 47.1 million euros in 2022.
Now, the corporate is debating choices for its capital construction, in accordance with the Monetary Occasions. One of many choices is a secondary share sale, which might be value over 200 million euros. This might additionally improve the corporate’s valuation, whereas additionally producing money for early traders.
No plans for an IPO but
Earlier this yr, Vinted’s CEO Thomas Plantenga already introduced that the corporate is technically prepared for an IPO. Nevertheless, it desires to spend money on sustainable progress of the corporate first. “My job is to elucidate to our traders why these longer paths of constructing one thing larger create a greater return”, the CEO mentioned.
The plans usually are not remaining but.
A brand new funding spherical within the type of a secondary share sale may very well be a method to create that sustainable progress. If the corporate’s valuation will likely be even increased afterwards, that would result in a extra profitable IPO afterward. Nevertheless, sources additionally cautioned that Vinted’s discussions with monetary advisors are nonetheless at an early stage, so they might change.
