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☆ Amazon aggregator Thrasio loses CEO, other top execs as company works through bankruptcy
▼ + stars: | 2024-04-24 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Katie SchoolovThrasio, the top aggregator of Amazon third-party sellers, is losing its CEO and five other senior executives, months after the former highflier filed for bankruptcy. Greg Greeley, Thrasio's CEO, informed staff on Tuesday that he plans to resign, according to an internal memo viewed by CNBC. Thrasio filed for bankruptcy in February and said it had agreed with lenders to restructure some of its debt load. Alongside the C-suite shakeup, Thrasio is also laying off "employees at every level," according to the memo. They're also inquiring about officers and directors involved in over $300 million in company stock sales "that has given rise to allegations of fraud."

Persons: Prosper, Katie Schoolov Thrasio, Greg Greeley, Josh Burke, Stephanie Fox, Greeley, Thrasio, Goldman Sachs, JPMorgan Chase, They're, Josh Silberstein Organizations: Amazon, CNBC, Finance, BlackRock, JPMorgan, CNBC's, U.S . Customs, Border Protection, GXO Logistics, Walmart Locations: Las Vegas , Nevada, U.S

☆ Top Amazon aggregator Thrasio files for bankruptcy
▼ + stars: | 2024-02-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021. Thrasio, an early leader in aggregating Amazon sellers, filed for Chapter 11 bankruptcy protection in a New Jersey court Wednesday. Thrasio and other Amazon aggregators raised billions of dollars from investors looking to cash in on the third-party seller rollup craze. Aggregators bought up promising products and storefronts on Amazon, to use their data and operational expertise to turbocharge sales. WATCH: What's behind the big hype and billion-dollar aggregator start-ups buying Amazon seller brands

Persons: Prosper, Thrasio, Greg Greeley, Aggregators, Josh Silberstein, Carlos Cashman Organizations: Amazon, fizzle, CNBC Locations: Las Vegas , Nevada, New Jersey, Greeley

☆ Amazon aggregator Thrasio prepares for bankruptcy - WSJ
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Thrasio Holdings, which acquires third-party sellers on Amazon (AMZN.O), is preparing to file for bankruptcy as it grapples with a post-pandemic slump in online spending, the Wall Street Journal reported on Thursday. The aggregator did not immediately respond to a Reuters' request for comment. In 2021, Thrasio said it had raised $1 billion in a funding round led by private equity firm Silver Lake, taking its total funding to $3.4 billion. The company has been working with law firm Kirkland & Ellis to explore restructuring options, the Journal had reported in September. Reporting by Gursimran Kaur in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Thrasio, Holly Etlin, Kirkland, Ellis, Gursimran Kaur, Subhranshu Sahu Organizations: Thrasio Holdings, Wall Street, Thomson Locations: New York, Silver, Bengaluru

☆ BlackRock's next high-stakes bet: lending out cash
▼ + stars: | 2023-10-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

Goldstone was referring to a type of business-development company, an investment vehicle widely used in the private-credit market. The vehicle Condor allocated to is a slice of BlackRock's $81 billion private-credit business, which is part of the wider $317 billion alternative-assets platform. 'Size matters'In the summer, BlackRock executives teased out their focus on private credit and fixed income broadly during an investor-day presentation. BlackRock's string of private-credit developments adds up to a long-term bet that this dynamic will continue. "That, in essence, is the paradox of private credit."

Persons: David Goldstone, Goldstone, BDC, it's, hasn't, Rowe Price, Franklin Templeton, Blackstone, Axel Springer, Greg Greifeld, Greifeld, Tim Clarke, Rob Kapito, We've, Jim Keenan, BDCs, Keenan, Clarke, PitchBook, they're, Larry Fink, " Fink, Merrill Lynch, BlackRock, Jared Gross, J.P, Phil Tseng, BlackRock's, Gross, Morgan Organizations: Condor Capital Wealth Management, Condor, BlackRock, BlackRock doesn't, Federal Reserve, Fidelity, Apollo, KKR, Growth, BlackRock TCP Capital Corp, BlackRock Capital Investment Corp, Kreos, Barclays, Tennenbaum Capital Partners, Morgan, who's Locations: New Jersey, BlackRock, PitchBook, Banks, London

☆ Amazon Aggregator Thrasio Engages Restructuring Advisers
▼ + stars: | 2023-09-27 | by ( Alexander Gladstone | Soma Biswas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/amazon-aggregator-thrasio-engages-restructuring-advisers-ed1f0450

Persons: Dow Jones, ed1f0450

☆ From Plaid to Brex to Instacart, here are the 20 unicorns that have plunged the most in value in 2023, according to private secondary data
▼ + stars: | 2023-06-12 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

One way to see how private companies are faring is to look at secondary exchanges. The fallen giants are led by former fintech darling Plaid, which has plunged almost 80% in 2023. The fallen giants are led by former fintech darling Plaid, which has plunged almost 80% in value this year. "Suggesting a valuation of any private company based solely on thinly traded secondary market data is misleading clickbait," said a Plaid spokesperson. Below are the 20 companies that have fallen most in value this year, according to Caplight.

Persons: Buyers, Caplight, Javier Avalos, Avalos, Gabe Greenbaum Organizations: Plaid, B Locations: Caplight

☆ 10 Things in Tech: Amazon's AI scramble
▼ + stars: | 2023-06-12 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

The OpenAI CEO says he is losing sleep over the fear that "we already have done something really bad by launching ChatGPT." When ChatGPT launched, Amazon managers asked staff for ideas on how to leverage the chatbot at work. "Amazon must be really scared about being late on all of this," an Amazon employee told Insider. Odds and ends:Craig Federighi, Apple’s senior vice president of software engineering, showed off his guitar skills at Apple's WWDC conference this year. During the company's Worldwide Developers Conference, Craig Federighi, Apple's senior vice president of software engineering, stole the show with a guitar solo.

Persons: Hallam Bullock, Victor Frankenstein, Sam Altman, ChatGPT, Eugene Kim, Insider's Ben Bergman, We've, we've, Thrasio, doesn't, Read, Craig Federighi, Apple’s, Apple's, Dad, Jack Sommers Organizations: Amazon, ChatGPT, Getty, Elon, SpaceX, SpaceX's Starlink, Tech, LA Tech, The Washington Post, Netflix, Apple, Conference Locations: London

☆ I've made $10 million in sales for my Amazon coffee grinder brand. Here's how I got started and found success.
▼ + stars: | 2023-04-27 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

But my e-commerce success really started after I launched my coffee accessories brand, Kaffe, on Amazon in mid-2019. I spent day and night thinking about the best way to position the coffee grinder so it would get to the top of Amazon's rankings. My sales started to grow. Amazon has its own coffee grinder that it sells under its Amazon Basics private label, and it retails for a couple of dollars less than Kaffe's does. On Amazon, you're either growing, or you're really dying, and the fees will eat you alive if you're not doing any volume.

☆ Keith Rabois says Shopify brands have 'a lot of room' to grow, and his startup, OpenStore, just launched a new product to help with that
▼ + stars: | 2023-03-22 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Keith Rabois' startup, OpenStore, is launching a new service for Shopify merchants. Keith Rabois founded OpenStore in 2021 with the idea of scooping up Shopify stores and using economies of scale to supercharge their sales. OpenStore has acquired more than 40 Shopify stores so far, says Rabois, a venture capitalist who placed early bets on DoorDash, Affirm, Stripe, and Faire. That makes OpenStore the largest owner and operator of Shopify brands in the world, he told Insider in a recent interview. However, there's "a lot of room" to grow Shopify brands, he added.

☆ Amazon aggregator Boosted Commerce lays off around 20% of staff in another round of job cuts, the latest blow to rollup companies
▼ + stars: | 2023-02-08 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +2 min

Amazon aggregator Boosted Commerce has laid off around 20% of its staff, Insider has learned. A spokesperson for Boosted Commerce confirmed to Insider that the layoffs occurred, and affected 20% of its US-based, full-time staff. They also told Insider that the company is still currently hiring for roles in these more focused departments. The former employee also said Boosted Commerce was "struggling" as a result of "bad acquisitions and the state of the overall economy." Boosted Commerce has raised $380 million in outside funding to date, according to Marketplace Pulse.

☆ After I was laid off by Amazon aggregator Thrasio, I panicked — but it ended up being a blessing in disguise
▼ + stars: | 2022-08-01 | by ( Julie Peck | ) www.businessinsider.com time to read: +8 min

Thrasio, the Amazon aggregator, hired him, but he fell victim to its layoffs in May. After studying abroad in Spain and living in Berlin, while pursuing several business ventures, Amazon aggregator Thrasio hired Ritter in July 2021 to their German-market team. The higher-ups gave me a portfolio of five brands that Thrasio had already acquired, including sports-gear brands, a car-accessory brand, and a paint-supply brand. When Thrasio laid me off in May, I wasn't really surprisedThere had been a lot of rumors going around. The difference between working as an entrepreneur and working for Thrasio is that now, it's all up to me.

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