Second-Hand Marketplace Vinted Rules Out IPO for Now, CEO Says

Vinted, Europe’s largest online marketplace for second-hand clothes, is ruling out an initial public offering for now as it focuses on expanding beyond fashion.

It’s easier to deal with five or six investors than to have to appease a large shareholder base, Chief Executive Officer Thomas Plantenga said on Thursday. The Vilnius, Lithuania-based company reached a valuation of €5 billion ($5.29 billion) after completing a secondary share sale last month led by the private equity firm TPG.

“We’re expanding into new countries and we’re expanding our categories. We’re taking a ton of risk,” Plantenga said in an interview at ...