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Vinted closes secondary share sale as it eyes expansion beyond clothes

Vinted closes secondary share sale as it eyes expansion beyond clothes

Vinted has closed a secondary share sale of £282.96m, led by private equity firm TPG as it plans to expand beyond clothes into electronics, books, toys and video games.

The online marketplace said the share sale, which sits at a valuation of £4.16bn, validated its “opportunity and progress in developing and growing the second-hand market globally”.

It added it has “diversified its investor base with new expertise” and rewarded staff and early investors for their contributions to its success.

TPG Tech Adjacencies (TTAD), the private equity company’s strategy dedicated to providing flexible capital solutions to the technology industry, is funding the company’s investment.

Other major investment funds including Hedosophia, Baillie Gifford, Invus Opportunities, FJ Labs, Manhattan Venture Partners, and Moore Strategic Ventures also participated.

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CEO Thomas Plantenga told the Financial Times that, just as it had done with second hand clothes, Vinted wanted to focus on “unsexy” areas — such as efficient shipping and payments, as well as quality checks — for other used goods, starting with consumer electronics.

“In the end, our vision is to make second-hand first choice . . . globally, and [for] any type of product you can imagine,” he said. “In the long term, we would try to go to other categories.”

Vinted kicked off the £385.40m share sale of the business in July.

Plantenga added: “We’re delighted to welcome new investors with the experience to support us through our next phase of growth, while continuing to benefit from the expertise of our long-term backers.

“TPG and our other new investors share our vision: to make second-hand the first choice, worldwide.”

He added: “We’re also delighted that this share sale rewards our employees for their dedication in making Vinted a success.”

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