Thrasio logo.jpg

#Amazon #E-commerce

Thrasio acquires, upgrades and scales small cash-generating retail Amazon-based businesses ($1 m-$30 m annual revenue).

Ultra-fast growth is driven by immediate 2x-3x re-valuation of acquired businesses and by its further professional scaling.

Fast purchase is hugely supported by institutional capital.

Headquarters: 
USA, Walpole, MA,
founded: July 2018

Revenue / Profit: 
$0.5 b (2020), $1-1.5 b (2021E) /
20% Net profit margin

Investment/Debt: 
$3.4 b ($2.2 b invested/
$1.2 b debt)*

P/S multiple (est.): 
6x (vs 4x Amazon)

Key people: 
Carlos Cashman
(co-founder, CEO),
Joshua Silberstein
(co-founder),
10+ startups, 40+ years experience

What does Thrasio do?

Acquires, upgrades and scales by 2-3x great cash-generating Amazon-based businesses

What problem does it solve?

  • For business owners: fast cash out, fast liquidity

  • For Amazon: marketplace more attractive for SME businesses

Why attractive now?

  • 8x revenue CAGR, 2020 - $0.5 b, 2021 (forecast) - $1.5 b

  • 20% net profit margin: profitable since inception

  • $3.4 b from Advent International (lead), Blackrock, Barclays, Monroe Capital and others

  • $1.2 b debt - easy access to institutional capital

  • 55% of global fast-growing Amazon market is target for Thrasio

Why upside in 1-2 years?

  • 2x Thrasio revenue growth expected conservatively

  • Competition irrelevant due to vast “blue-ocean” market - first clash in 3 years

  • Strategic plans to move outside Amazon, develop D2C channels

  • Founders had 10+ exits and IPOs, whole team has great M&A experience