Thrasio Grabs Another $500 Million To Fuel Shopping Spree Of Amazon Sellers

SourceForbes
SectorRetail
CountryMiddle east

The three-year-old company has now raised over $1 billion to roll up small and medium-sized businesses that sell primarily on Amazon. NurPhoto via Getty Images Thrasio has raised another $500 million in debt, further cementing its status as the largest acquirer of Amazon businesses and giving it significant firepower to continue its aggressive deal-making spree. The fresh capital comes from a slew of banks, including JP Morgan Chase, Goldman Sachs, BlackRock, Barclays, UBS, Credit Suisse and RBC. It brings its total funding to more than $1 billion, the majority of which was raised in the last six months. The consumer products company has acquired some 100 businesses since it was started in 2018 and now sells 14,000 items—massage guns, hiking poles and everything in between—on Amazon. With each new acquisition, it works to goose sales and profits by upgrading operations, like making improvements in marketing and supply chain. Last year, Thrasio says it generated over $100 million in profits on $500 million in sales. It plans to use the funds to acquire additional companies, including larger businesses with revenues of up to $200 million, says cofounder and co-CEO Josh Silberstein.

It previously stuck to companies with revenues under $40 million. It will ...read more...