Valiunas Ellex, working together with Olswang and the German law firm Schweizer, has advised Hubert Burda Media on its investment into a company operating the Vinted Internet platform.
A consortium of Hubert Burda Media and US private equity and venture capital funds Accel Partners and Insight Venture Partners invested a total of USD 27 million into Vinted, raising the total company valuation to USD 150 million.
Vinted.com is a platform to swap, sell, and/or give away second-hand clothing. The system operates in 8 countries, including the USA, Germany, and France, listing 22.3 million items and reaching 11 million members.
Hubert Burda Media, with its origins in the printing and magazine publishing industries, currently owns a portfolio of around 500 media products worldwide. It reached revenues of EUR 2.456 billion in 2014.
Valiunas Ellex was represented by Partner Ramunas Petravicius, Associate Partner Robertas Ciocys, and Senior Associate Ruta Besusparyte.
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