Thrasio SuccessStory

Thrasio SuccessStory


Although is used by millions of consumers every day, it can be a tough environment for entrepreneurs looking to grow their ecommerce business. With Thrasio, entrepreneurs can sell their business to the company and still earn profit at the same time. Thrasio has already helped numerous small businesses grow their brand and it appears that the Massachusetts-based startup is only getting bigger after it recently received a valuation worth over $1 billion. 

Profile, Inc. or Thrasio is an acquisition company based in Massachusetts, USA. It specializes in the acquisition of Fulfillment by Amazon (FBA) ecommerce businesses.

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In a nutshell, the Thrasio business model revolves around the purchase online businesses from different sellers on Amazon. Once the acquisition has been completed, Thrasio overhauls the company it acquired by customizing its product portfolio, changing the branding, and developing a long-term revenue growth strategy. Despite Thrasio running the ecommerce business full-time, the previous owner will still benefit long-term as they get a percentage of future revenues. Essentially, Thrasio’s acquisition platform is a win-win for every party involved as there is a continuous revenue stream for both Thrasio and the previous business owner.                    
With Thrasio, it's unsurprising that many view it as a company operating on thin ice. Acquiring any type of business, even the ones with small capitalization can be very costly. Additionally, it can even be more concerning since the startup was only launched in 2018. But Thrasio has managed to hold up well and it knows that it needs huge funding so that operations go smoothly on a regular basis. The company has since raised $500 million.

In terms of actual performance, Thrasio is slowly becoming one of the fastest-growing ecommerce acquisition companies around. It recently reported $300 million in revenues and also obtained $260 million in public funding. The public investment would raise Thrasio’s valuation to $1 billion, earning the company unicorn status. Thrasio’s current portfolio includes 60 Amazon business acquisitions, 6,000 products, and a spot in Amazon’s top 25 sellers list. The company also reported that it has already paid sellers more than $100 million.       

With Amazon’s FBA program, it makes it easy for Thrasio to track and analyze the potential businesses that it will be acquiring. FBA was introduced by Amazon in 2006 and gives sellers exclusive access to the company’s advanced shipping and fulfillment services. With FBA, sellers no longer have to worry about shipments getting damaged or arriving late as Amazon takes charge of the entire shipping process for a very affordable price. Even though Thrasio only acquires businesses enrolled in the FBA program, it should be noted that the number of FBA sellers are currently numbered at eight million worldwide. 

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In a recent interview, Thrasio founder and CEO Josh Silberstein mentioned that Thrasio is a result of finding value in Amazon and is hopeful that the value results in an ongoing business that won’t go obsolete in around five years. With the growth that the company is experiencing, Silberstein shouldn’t worry about the company going obsolete anytime soon.     

Thrasio is headquartered in Walpole, Massachusetts, and also operates offices in New York, New York, and Houston, Texas. The company employs around 500 workers for its three locations.   


Thrasio was founded in 2018 by former business executives Joshua Silberstein and Carlos Cashman. They based Thrasio from an Amazon warrior in Greek Mythology named "Thraso", in which name is translated to "confidence".    

In April 2019, the startup obtained $6.5 million in seed funding from Atlantic Records CEO and chairman Craig Kallman, Seamless co-founder Jason Finger, and RiverPark Ventures, among others.   

In December 2019, Thrasio raised $20 million in Series A funding with Peak6 and Upper 90 leading the investment round. A few months later, the company raised $75 million in Series B funding with existing investors Peak6 and Upper90 making the investment. 

In July 2020, Thrasio reaches $1 billion in valuation as it obtained $260 million in a Series C funding round led by Advent International. Advent managing partner David Mussafer mentioned during the investment that he is optimistic that Thrasio can “enhance, accelerate, and revolutionize the ecommerce industry”. 

In November 2020, former Amazon executive Tom Szkutak joined Thrasio's Board of Directors. He was Amazon's Chief Financial Officer for over 13 years (2002 to 2015). 


In a recent interview, Joshua Silberstein mentioned that business owners earning little profit on Amazon have become millionaires thanks to Thrasio. Although it’s easy to congratulate these business owners for earning big bucks, the success story of Thrasio with Silberstein and co-founder Carlos Cashman leading the way should get a lot of praise as well. 

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The co-founders are both co-CEOs of the company. “Two heads are better than one” as they say but Silberstein and Cashman’s prior experience before launching Thrasio makes the appointment of two Chief Executive Officers a no-brainer. Both have over 20 years of executive management experience, with Cashman previously working at Asset Performance Technologies and CueNotes (also co-founded the company) while Silberstein worked at SimpleReach and Health Guru Media. Silberstein has an MBA from the Columbia Business School.  


Thrasio recently reported a pro forma revenue of $300 million and a 233% increase in year-over-year revenue. The number is projected to increase in 2021 as the startup secured $260 million in equity funding which resulted in Thrasio valuation soaring to $1 billion. Although the company has recorded impressive numbers, reports of a possible Thrasio IPO will continue to stay as rumors for at least the next few years.    


Not a lot of companies are involved in the Amazon FBA acquisition business. But Thrasio isn’t alone as it faces competition from a few companies such as Perch, Booster Commerce, and Latona’s.

Thrasio currently has the biggest client portfolio and market capitalization among the four. One of Thrasio’s brands, Angry Orange Pet Odor Eliminator, is one of the highest selling brands on Amazon. Sock maker Bitly Socks and kettle manufacturer Willow & Everett are also other notable Thrasio brands. On the other hand, Boosted Commerce owns popular Amazon brands such as Simplify Skin (skincare) and Bloom Krans (women’s personal care) while Perch owns Flathead Products (reusable silicone straws) and Aulette Home (kitchenware), among many others.

All four companies utilize an easy acquisition process while promising the best returns in the ecommerce market. Business owners can sell their online business with any one of the four companies and receive approval of the sale in less than a week. Payment is transferred to the business owner’s bank account in around two months, but Perch has reported that it usually completes the transfer in less than three weeks. Out of the four, only Thrasio gives dividends to business owners even after the sale has been approved. 

Since buying Amazon FBA businesses can be very costly, Thrasio together with Perch, Boosted Commerce, and Latona’s don’t just buy any business outright. Aside from the business fitting the company’s business model, it also needs to achieve specific revenue numbers and be able to reach a wide variety of customers, very much like how acquisitions for any type of company works.     

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Thrasio is proof that relying on another company to bring you success is more than possible as long as you innovate and develop the right strategies.   

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Joshua Silberstein and Carlos Cashman
Joshua Silberstein and Carlos Cashman
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