Taussig: Higher interest rates benefited Vinted against discounting competitors
Alex Taussig · Thomas Plantenga & Alex Taussig: Vinted CEO's Ultimate Guide to Scaling Marketplaces | E1114 · 20VC with Harry Stebbings · Feb 12, 2024 · at 27:08
Alex Taussig is a General Partner at Lightspeed Venture Partners and board member at Vinted. He explains how macroeconomic shifts impacted competition in the peer-to-peer marketplace sector.
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“The end of zero interest rates benefited us a lot. I remember when, early when I joined the board, it was still, we're still in this era of like insane discounting by some of our competitors in various regions. And we had to make these hard choices. Like, do we match the discounts? Do we, you know, how, how, how hard do we really compete for this territory knowing this is less profitable? That all went away pretty quickly.”
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