On Wednesday (December 15), third-party aggregator Thrasio Holdings, Inc. – which has more than $ 1 billion in annual revenue and more than 200 brands under its leadership – added product development and launch capabilities to its prowess as a buyer.
According to a press release, Thrasio estimates that one in six U.S. households have purchased a Thrasio product through Amazon, and the company has now added physical expertise through its acquisition of Cleveland-based retailer IdeaStream.
âAdding the amazing IdeaStream team to ours and being able to build on the platform they created is a big step forward in helping us sell more of our products in physical locations as we donate to our customers better access to our products, âCarlos Cashman, CEO and co-founder of Thrasio, said in the company’s announcement.
Tony DeCarlo, co-founder and CEO of IdeaStream, called the acquisition by Thrasio a ânatural fitâ.
âTheir e-commerce background and our brick and mortar expertise is a winning combination,â said DeCarlo. âWe look forward to bringing more Thrasio brands to store shelves so customers around the world have better access to top rated products. “
Thrasio’s new brand includes a new logo, revamped website, updated social media profiles, marketing materials and more.
âWe see this business as a catalyst, consistently delivering better experiences to more people,â said Arturo Aranda, director of brands for Thrasio’s internal brand agency, Brand Central. âWe want an identity that reflects the values ââand culture of our company. It’s super bold, super colorful, and super positive. It is the opposite of boring. We had a lot of fun bringing this to life.
Thrasio’s in-house product development and launch team may update existing products, launch line extensions and create new products and brands, the statement said.
The group recently added engineers, industrial designers and product launch specialists, among others, and has around 20 patents filed and 200 products launched.
âOur updated brand and expanded capabilities are all serving the next stage of Thrasio’s growth,â said Danny Boockvar, president of Thrasio, in the statement.
Related: Thrasio secures over $ 1 billion in private funding round
In October, Thrasio raised over $ 1 billion in a Series D fundraising effort led by technology investment platform Silver Lake, bringing Thrasio’s valuation to over $ 5 billion. .