Thrasio
| Private | |
| ISIN | 🆔 |
| Industry | E-commerce |
| Founded 📆 | 2018 |
| Founder 👔 | Carlos Cashman, Josh Silberstein |
| Headquarters 🏙️ | Walpole, Massachusetts |
Area served 🗺️ | Global |
Key people | Danny Boockvar (President) |
| Revenue🤑 | US $500 million (2020) |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Thrasio (θræs-ɪ-oʊ) is an American multinational consumer products e-commerce company with offices located in Walpole, MA; New York, NY; Houston, TX; Salt Lake City, UT; and Tokyo, Japan.
Overview[edit]
The company was founded in 2018 by Carlos Cashman and Josh Silberstein. Thrasio operates in 10 countries.[1][2]
Thrasio acquires third-party FBA brands on Amazon marketplace and grows their operations through global supply chain, marketing, creative design, legal support, and operations management.[3]
Thrasio claims to have generated over $100 million in profits and $500 million in sales.[4]
History[edit]
Background and founding[edit]
Thrasio was founded in July 2018 by Carlos Cashman and Joshua Silberstein who are co-CEOs. The company takes its name after the Greek persona Thrasos, meaning “boldness.” Both Cashman and Silberstein are entrepreneurs with experience in venture capital and over 20 years’ tenure in executive management.[5][6][7]
Prior to starting Thrasio, Cashman attended MIT with a full scholarship from AT&T and graduated with a B.S. in Information Systems Engineering.[6]
Leadership[edit]
In October 2020, former Amazon CFO Tom Szkutak joined Thrasio’s Board of Directors. Prior to joining the startup, Szkutak served in his executive role at Amazon from 2002 to 2015.[8]
Financing[edit]
In April 2019, Thrasio secured $6.5 million in seed funding from CEO and chairman of Atlantic Records Craig Kallman, co-founder of Seamless Jason Finger, and RiverPark Ventures.[9]
In December 2019, Thrasio closed a Series A financing of $20 million led by Peak6, Upper 90, and WTI.[10]
In April 2020, Thrasio secured $75 million in Series B preferred equity funding with $35 million in debt financing at a post-money valuation of $780 million. The round was led by Upper90 and included other existing investors such as Peak6, RiverPark Ventures, and WTI.[9]
In July 2020, Thrasio raised $260 million in a Series C funding round led by Advent International, announcing they were the fastest profitable company in the U.S. to reach a valuation of $1 billion and achieve unicorn status.[11]
In January 2021, Thrasio raised a $500 million debt facility led by JPMorgan Chase Bank, The Private Credit Group of Goldman Sachs Asset Management and RBC Capital Markets, the Strategic Credit Group within Oaktree Capital Management, Bain Capital Credit, Barclays, BlackRock, BofA Securities, Credit Suisse Loan Funding, Monroe Capital, Morgan Stanley Private Credit and UBS Securities.[12]
In February 2021, Thrasio obtained $750 million in a Series C all-equity venture round led by Advent Venture Partners and Oaktree Capital Management, increasing the startup’s valuation to $3-4 billion.[13]
In April 2021, Thrasio secured $100 million from a third Series C funding round from Western Technology Investment, Peak6, Upper 90, Advent, Oaktree, and Harlan Capital,[14] bringing the total financing raised to over $1 billion.[1]
References[edit]
- ↑ 1.0 1.1 Debter, Lauren. "Thrasio Grabs Another $500 Million To Fuel Shopping Spree Of Amazon Sellers". Forbes. Retrieved 2021-08-12.
- ↑ Thrasio. "Thrasio Accelerates its Leadership Position in Europe with Key Hire and New Brand Acquisitions". www.prnewswire.com. Retrieved 2021-08-12.
- ↑ "Thrasio Nabs Another $750M To Acquire Amazon Merchants - DailyAlts -". DailyAlts. 2021-02-11. Retrieved 2021-08-12.
- ↑ "Thrasio Tops $1 Billion in Total Capital Raised, Secures $500 million in Fresh Capital". AP NEWS. 2021-01-11. Retrieved 2021-08-12.
- ↑ "Thrasio Story - Profile, History, Founder, CEO, Revenue, Competition | Service Companies | SuccessStory". successstory.com. Retrieved 2021-08-12.
- ↑ 6.0 6.1 "The VentureFizz Podcast: Carlos Cashman - Co-CEO & Co-Founder of Thrasio". VentureFizz. 2020-05-09. Retrieved 2021-08-12.
- ↑ Alejandro Cremades. "Carlos Cashman On Building A $750 Million Business In 24 Months By Selling Products On Amazon". Alejandro Cremades. Retrieved 2021-08-12.
- ↑ "Former Amazon CFO Joins Thrasio Board of Directors". AP NEWS. 2020-11-16. Retrieved 2021-08-12.
- ↑ 9.0 9.1 Azevedo, Mary Ann (2020-04-09). "Meet Thrasio, A Profitable Startup That Just Raised $110M At A $780M Valuation". Crunchbase News. Retrieved 2021-08-12.
- ↑ Thrasio. "Thrasio Announces $20mm Series A Financing". www.prnewswire.com. Retrieved 2021-08-12.
- ↑ Hall, Christine (2020-07-15). "Thrasio Gets Its Horn: $260M Series C Round Provides $1B Valuation". Crunchbase News. Retrieved 2021-08-12.
- ↑ Hall, Christine (2021-01-11). "Thrasio Brings In $500M Debt Facility To Go After Bigger Acquisitions". Crunchbase News. Retrieved 2021-08-12.
- ↑ "Thrasio raises $750M more in equity for its Amazon roll-up play". TechCrunch. Retrieved 2021-08-12.
- ↑ "Thrasio raises $100M for its Amazon roll-up play, appoints retail CFO for its next steps". TechCrunch. Retrieved 2021-08-12.
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