All articles tagged with #thrasio
Originally Published 1 year ago — by Reuters
Amazon aggregator Thrasio Holdings has filed for Chapter 11 bankruptcy protection, securing $90 million in new financing and entering a restructuring agreement to reduce its debt. The company, which acquires third-party sellers on Amazon, plans to continue operating its business normally throughout the bankruptcy process.
Originally Published 1 year ago — by CNBC
Thrasio, a major player in the Amazon aggregator space, has filed for Chapter 11 bankruptcy protection, aiming to reduce its debt by $495 million and secure up to $90 million in fresh capital. The company, which raised $3.4 billion and was once eyeing a public listing, faced challenges as e-commerce growth slowed and economic uncertainty increased. Despite layoffs and executive departures, Thrasio aims to use the new capital to support its brands and scale its infrastructure.
Originally Published 1 year ago — by TechCrunch
Microsoft makes a strategic investment in Mistral AI, Thrasio files for bankruptcy after raising billions, Glean secures $200M in funding for enterprise AI, COTU Ventures raises a $54 million fund, and Zacua Ventures puts together a $56 million vehicle for venture capital.
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.