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Thrasio to Cut Employees, Replace CEO

By Paris Martineau
· · Source: Insider

Thrasio, the Amazon rollup firm, is replacing its CEO and laying off employees, according to an internal company email obtained by Insider. Founded in 2018, the Massachusetts-based company is one of the most high-profile Amazon aggregators, a trendy type of startup that acquires and consolidates Amazon marketplace merchants and other online sellers. The rollup model took off during the...

Thrasio, the Amazon rollup firm, is replacing its CEO and laying off employees, according to an internal company email obtained by Insider.

Founded in 2018, the Massachusetts-based company is one of the most high-profile Amazon aggregators, a trendy type of startup that acquires and consolidates Amazon marketplace merchants and other online sellers. The rollup model took off during the pandemic’s online shopping boom, leading to frothy valuations for larger consolidators like Thrasio, which was valued at $3 billion just last year.

But rollup firms, which drove up multiples as they raced to snap up Amazon sellers, are now coming under pressure as online sales growth slows amid inflation and supply chain disruption. Acquisitions are slowing and some rollups are even unloading recent purchases, The Information previously reported.

In an email to staff Monday, Thrasio co-founder and CEO Carlos Cashman and President Danny Boockvar said that “four years of hypergrowth” had stretched the company thin, and it was time “to reduce the size of the Thrasio team.”

It is unclear how many employees will be impacted by the cuts. Only one affected team member was called out by name directly in the email: CEO and co-founder Cashman. In August, he will be replaced as CEO by former Amazon executive Greg Greeley, according to the email obtained by Insider.

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