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Amazon aggregator Thrasio prepares for bankruptcy
Economic Times
·
1y ago
Medial
Thrasio Holdings, an aggregator of third-party sellers on Amazon, is reportedly considering filing for bankruptcy due to a post-pandemic decline in online spending. The company, which raised $1 billion in a 2021 funding round, is working with law firm Kirkland & Ellis to explore restructuring options. Thrasio has faced challenges in the changing e-commerce landscape and is said to be grappling with a slump despite previous success in acquiring Amazon sellers.
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Amazon aggregator Thrasio emerges from bankruptcy, appoints CEO
Economic Times
·
1y ago
Medial
Amazon aggregator Thrasio has announced emerging from Chapter 11 bankruptcy, with Stephanie Fox taking over as the new CEO. Formerly the company's COO, Fox will succeed Greg Greeley, who will step down after global restructuring is completed. Thrasio is focused on acquiring third-party sellers on Amazon and plans to prioritize profitability moving forward. After filing for bankruptcy protection in February, the company reached a restructuring agreement with lenders to reduce its debt, receiving $90 million in financial commitments from existing shareholders.
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Amazon aggregator Thrasio files for bankruptcy
Reuters
·
1y ago
Medial
Thrasio Holdings, an Amazon aggregator that acquires third-party sellers on the platform, has filed for Chapter 11 bankruptcy protection. The company has secured $90 million in new financing from existing shareholders and reached a restructuring agreement with some lenders to reduce its $495 million debt. Despite the bankruptcy filing, Thrasio plans to continue its business operations as usual. The company's estimated assets range from $1 billion to $10 billion, with liabilities between $500 million and $1 billion.
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Thrasio files for Chapter 11 in bid to restructure its debt
Economic Times
·
1y ago
Medial
Thrasio Holdings, an Amazon seller, has filed for Chapter 11 bankruptcy in order to secure fresh capital and eliminate around $495 million of debt. The company aims to continue paying employees and suppliers during the process. Thrasio, one of Amazon's largest third-party sellers, seeks to strengthen its balance sheet and support its brands. The move comes as Amazon sales slow down and startups aggregating popular brands on the platform face challenges with their debt and rising interest rates. Thrasio has secured a restructuring support agreement with lenders for a one-year delay on interest payments and has received new financing commitments.
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Amazon ecommerce business acquirer Benitago files for bankruptcy
Economic Times
·
1y ago
Medial
Benitago Group, an Amazon e-commerce business acquirer, has filed for bankruptcy in the US, citing assets and liabilities ranging from $50 million to $100 million. The company, which connects with Amazon business owners looking to sell, plans to restructure its debt and potentially sell parts of its business during bankruptcy. Benitago had raised approximately $380 million in equity and debt for acquiring brands selling on Amazon's marketplace. Its rival, Thrasio, has also faced similar challenges, including layoffs and executive departures.
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Razor and Perch merge, raise $100M on a $1.7B valuation as more roll-ups consolidate
TechCrunch
·
1y ago
Medial
Berlin-based e-commerce aggregator Razor Group has acquired US company Perch and raised over $100m in funding led by Presight Capital. The deal, which comes after another e-commerce aggregator, Thrasio, filed for Chapter 11 bankruptcy protection, gives the combined business an enterprise value of $1.7bn. Razor Group has gradually acquired smaller aggregators like Stryze and Factory 14, while Perch had been looking for a buyer for around a year before the deal. The company aims to achieve $1bn in revenues in the next four to eight quarters.
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Thrasio, once king of e-commerce aggregation, files for Ch.11
TechCrunch
·
1y ago
Medial
Thrasio, the e-commerce aggregation start-up known for acquiring and restructuring smaller brands on marketplaces like Amazon, has filed for Chapter 11 bankruptcy protection. The company has secured $90 million in emergency financing and plans to eliminate around $495 million of existing debt. Thrasio has been experiencing financial difficulties for some time, including layoffs and exiting certain markets. The bankruptcy filing highlights the challenges faced by late-stage tech companies seeking funding during a downturn in the funding market. Thrasio's model of consolidating small e-commerce businesses faced difficulties due to changing consumer tastes and tightening economies. While Thrasio's collapse is significant, other roll-up companies that have raised substantial funds are likely to face similar challenges.
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Ola gets a breather after sharp valuation cut ahead of planned IPO
VCCircle
·
1y ago
Medial
Ola, an Indian ride-hailing company, has received a slight boost in valuation from one of its investors after facing a sharp cut in its valuation last year. The private equity-backed cab aggregator has recently seen a marginal increase in its value, providing some relief for the company. This comes as Ola prepares for its planned Initial Public Offering (IPO).
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Amazon Pay get RBI's payment aggregator license; Here's what the company said
IndianStartupNews
·
1y ago
Medial
Amazon Pay, the digital payments arm of Amazon India, has been granted a payment aggregator (PA) license by the Reserve Bank of India. This license positions Amazon Pay among a select group of companies authorized to offer online merchant payment services in India. With this approval, Amazon Pay aims to enhance its merchant payment business and deliver secure, convenient, and rewarding digital payment experiences. The Payment Aggregator license allows Amazon Pay to operate as an intermediary between merchants and payment processors, consolidating payments and meeting financial and security standards.
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VC firm buying into WeWork India as US parent set to exit
VCCircle
·
1y ago
Medial
An Indian venture capital firm is acquiring a minority stake in WeWork India, as the US parent company prepares to exit. This comes after WeWork Inc., the US parent, filed for bankruptcy earlier this year. The two-stage transaction will involve the venture capital firm buying the stake and the US parent selling its holding. WeWork India will continue its operations with support from the Indian venture capital firm.
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Good Glamm Lost Its Glamour: Is Thrasio Model Really Working in India?
OutlookIndia
·
2m ago
Medial
The Good Glamm Group, once a beauty-commerce unicorn, adopted the Thrasio model, acquiring multiple brands rapidly. However, this strategy led to financial strain due to high burn rates and integration challenges, resulting in losses, leadership exits, and a valuation drop. The company began divesting assets and is seeking fresh capital to stay solvent. The situation raises questions about the viability of the Thrasio model for Indian startups, highlighting the importance of sustainable growth strategies.
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