Vilnius-based Vinted, Europe's biggest second-hand fashion platform, announced on October 27 it has acquired United Wardrobe, a Dutch competitor.
According to Vinted, the merged group will bring together over 34mn users in Europe, which will help accelerate its expansion into new markets. Vinted became Lithuania's first "unicorn", a startup company valued at over €1bn, in November 2019.
Founded in Vilnius in 2008, the company now operates in 12 markets worldwide, including Spain, France, Luxembourg, Belgium, Poland, Lithuania, the UK and the US.
United Wardrobe was founded in the Netherlands in 2014 and later expanded to Belgium, France and Germany
Following the high-profile divorce between Russia's largest, state-owned lender Sberbank and tech giant Yandex earlier this year, the future of the bank's partnership with another local tech company, Mail.ru Group, is now also in danger of collapsing
Russia's Interior Ministry has presented to the government a RUB55bn ($720mn) digital transformation programme that has a heavy focus on artificial intelligence (AI).
Telia Lietuva's stock began to rise after the company announced on November 10 that it was the first in Lithuania to start testing 11 5G base stations in the city centres of Vilnius, Kaunas and Klaipeda.
The UK-based Arrival electric vehicle start-up, founded by Russian businessman and ex-Deputy Minister of Communications Denis Sverdlov, announced this week that it intends to IPO on Nadaq with a $5.4bn valuation, reports The Bell.
A record 21 Czech companies made it into the ranking of the region’s fastest growing tech businesses.