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The U.S. Justice Department announced a $138 million settlement Tuesday with morethan 100 people who accused the FBI of grossly mishandling allegations of sexual assault against Larry Nassar in 2015 and 2016.
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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.
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MEASURING in at just 100cm tall - and 99cm wide - the Peel P50 is reported the world’s smallest car to ever go into production. The three-wheeled microcar was originally made from 1962 to 1965 by the Peel Engineering Company and was listed in the 2010 Guinness World Records as the smallest production car ever made, with a weight of just 59 kilograms. Of the 50 P50s ever produced, only 27 are still known to exist today. Canadian, Greg, is one of the owners of these rare cars, and he told Future Studios Cars: “The P50 came out of the Isle of Man, basically the concept was a little car that you can use in the city”. With its DKW 49cc engine, the P50 has a top speed of 37mph and 4.2 horsepower. “It’s a one-seater with one headlight - I also love how it has three wheels, the back wheel is the one that is driving it with a chain from a little moped engine,” Greg said. With its uniquely small size, the P50 is not the most practical car to use. “There’s no reverse because you have to get out of the car and go around to the reversing handle, pick up the car and turn it around then get back in,” explained Greg. Although this is undoubtedly a small car, it has a big history. Greg said: “There was a Russian freighter that came into the port of Vancouver, they used it to drive around their huge freighter on the deck but then the refrigerator broke so when they came back, they traded this car in on a refrigerator”. Today, these cars are incredibly difficult to come by and are incredibly expensive - in 2016, a P50 was sold at auction for over $176,000.
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FreeMoviesAndTV
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Family Central
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A chronically ill student took her first steps in 10 years - to accept her awards for excellence at graduation. <br/><br/>Melika Ghanaati, now 19, hasn't been able to walk unaided since 2013 due to four debilitating medical conditions. <br/><br/>She was born with a severe form of scoliosis - a curved spine - as well as congenital myopathy, a disorder which has caused weakness in her muscles. <br/><br/>Growing up, she either used a walker or a wheelchair - and has needed various surgeries to correct her curved spine. <br/><br/>But after a year of intensive physiotherapy, Melika was able to walk up to her teacher unaided and receive her high school diploma, as well as two awards for excellence. <br/><br/>Melika, who is now a student at York University, Canada, said: “This was such a special moment for me - my teachers and closest friends were worried about me, but I proved everyone wrong. <br/><br/>“I wanted to surprise everyone with the walk, but most importantly, I believed I owed it to myself.”<br/><br/>Melika was born with a number of conditions - including scoliosis, severe club feet, congenital myopathy and recurring kidney stones. <br/><br/>But her scoliosis and club feet were the biggest hurdles preventing her from being able to walk. <br/><br/>Up until the age of 13, Melika had a number of surgeries in an attempt to get the curve and club feet corrected. <br/><br/>She even briefly died in ICU after surgery at the age of 12. <br/><br/>She said: “Between the ages of 10 to 13 I had three spinal surgeries.<br/><br/>“I even had a code blue - I died for a few seconds. <br/><br/>“I lost a lot of blood flow and needed to have a blood transfusion.\
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Movieclips
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Family Central
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