The Company in focus is Thrasio. We’ve already discussed about them in a previous post. It came into limelight recently when it raised $750 million, funded by its existing investors, including Advent International and Oaktree Capital.
The company was started in 2018. It basically buys up small businesses that sell through Amazon. This enables such small businesses from the competition with Amazon, which is known to start its own brand to sell the same goods which it finds has good traction, and get a handsome amount for it.
For example, a small business sells a good under the brand – “ABC”, and it goes on to have good number of buyers. At this moment, Amazon is said to swoop in and sell the same type of good under its own in-house brand and sells it at a lesser price and in effect steals its customers.
Companies like Thrasio will enable such small businesses to tap into new markets, improve their product and market strategy and effectively up their game.
Thrasio has raised $1.75 billion in total, most of it during the past year. This was mainly because loss of employment for lots of people forced them to lookup for other methods to earn a living. As such more and more people became Amazon FBA (fulfillment by Amazon) sellers. This enabled companies such as Thrasio to thrive.
“Thrasio continues its exceptional growth,” … “Over the past two months, we’ve been acquiring $1.5 million in revenue per day.” … “Thrasio is now closing two or three deals every week.”Joshua Silberstein – Co-founder, Thrasio