Thrasio, a NYC-based acquirer of Amazon third-party private label businesses, secured over $100m in funding.
This included:
- $75m in Series B equity, and
- $35m in additional debt capacity bringing total capital raised to over a quarter billion dollars.
The Series B, which valued the company at over $700m, was led by existing insiders and included participation from (among others) Peak6, Upper90, WTI, and River Park Ventures.
Led by Josh Silberstein and Carlos Cashman, co-CEOs, Thrasio is a large acquirer of Amazon third-party private label businesses, having integrated over 40 businesses into their operating platform.
The Fulfilled by Amazon (FBA) ecosystem acts as a launchpad for brand success, but as small sellers’ niche brands evolve into multimillion-dollar businesses they become complex and capital constrained, prompting many sellers to seek a successful exit. Thrasio purchases these brands – known for selling everyday products – for a typical purchase price of $1+ million, giving small business owners their hard-won payout. The company then onboards, optimizes, and operates this suite of brands, expanding their reach through marketing, search, product development, and supply chain management, leading to substantial financial and operating growth.
In the last 18 months:
(1) gross revenue has grown from zero to over $200,000,000 (Pro Forma TTM revenue),
(2) Thrasio has acquired over 40 businesses (and integrated them onto its proprietary operating platform), and
(3) the team has grown 10x in size (including 20 new hires in the last three weeks).
Thrasio has also been profitable since inception, and now has over $35m in Pro Forma TTM EBITDA.
FinSMEs
10/04/2020