It’s safe to say Thras.io has carved out one heck of a niche for themselves, and after generating more than $500M in sales (with $100M in profit) in 2020, the company is getting ready to even more growth in 2021.
Thras.io has a very interesting business model – they buy existing Amazon businesses and then grow them. Essentially what Thras.io has been able to do is systematize the process of scaling Amazon businesses through best practices that they’d learned and developed, and they’re not joking around:
After acquiring your business, we put it through a 503-point migration process—ushering it through diligence, creative, brand management and marketing. Through its lifecycle, more than 50 Thrashers live and breathe your brand as it becomes a profit-doubling machine.(Source – Thras.io)
The new funding over the last six-months totaling over $750M brings Thras.io’s total funding amount up to $896.5M
and for those wondering, no, they don’t own the .COM (correction, someone on Twitter mentioned that they do own the .COM but it forwards to the .IO), they’ve built a multi-billion dollar business on a .IO. As for what the company is going to do with all the additional capital, co-CEO Joshua Silberstein shared this with Crunchbase:
Thrasio is also focusing on international expansion, having recently launched a team in Germany, where it has already completed two deals in the last quarter, as well as spun up a team in Japan in the past week. Beyond that, Silberstein is looking at India and China as other potential markets.
“We’ve never bought a company with $180 million revenue, not because they don’t exist, but up until now we have shied away from that space,” Silberstein said. “Now we are in position to do multiple deals with companies in the $50 million to $200 million revenue range.”(Source – Crunchbase)
Congrats to Joshua and the whole Thras.io team, it sounds like 2021 is going to be one heck of a year! 🎉