E-commerce Giant Thrasio Files for Chapter 11 Bankruptcy
Originally Published 1 year ago — by TechCrunch
Thrasio, a major player in e-commerce aggregation, has filed for Chapter 11 bankruptcy protection to address its substantial debt. The company has secured $90 million in emergency financing and plans to erase $495 million of its existing debt. Thrasio's struggles reflect the challenges faced by late-stage tech companies amid a downturn in fundraising. The company's ambitious roll-up play, which aimed to consolidate smaller e-commerce businesses, ultimately faltered, leading to layoffs and a change in leadership. While Thrasio's collapse is significant, other companies in the e-commerce aggregation space have also raised substantial funding, indicating that similar challenges may lie ahead for the industry.