Thras.io has been on one heck of a growth path – the company was started in mid-2018 and in less than two years they’ve been able to get close to a billion dollar valuation. The startup is already profitable, and they’ve been branding on a .IO domain the whole time.
While I’m a big fan of .COM as are most people, Thras.io is another example of a company that has definitely been able to do just fine without the .COM.
What Thrasio has been able to do in a short amount of time is impressive. Serial entrepreneurs Carlos Cashman and Josh Silberstein founded the company in mid-2018 and have since quietly and steadily built a business that they say has been profitable since inception and, well, growing like crazy.
Specifically, its current valuation has increased 32 times compared to its seed round valuation around the same time last year. In the last 18 months, its gross revenue has surged from zero to over $200 million. The company says it now has over $35 million in TTM EBITDA, which is its EBITDA over the trailing 12 months (TTM) of operations.(Source – Crunchbase News)
Yes, you read that right, Thras.io went from $0 in revenue to over $200M in revenue in 18 months. You could say that not having a .COM would hold them back…but I think if you did, you’d be wrong, that kind of growth is almost unheard of.
This just goes to show that as the world continues to change, both investors and customers are a-okay doing business, and big business, with a company that isn’t branding on a .COM. It’s pretty clear that Thras.io isn’t having trouble establishing trust and I also think it’s very safe to say they’ll be worth over $1B by the end of the summer.
Okay, now you probably want to know what the heck Thras.io does, so I’ll break it down as it’s super interesting, to me at least! Thras.io acquires Amazon Businesses and as you can imagine, they are currently the fastest growing acquirer of Amazon FBA businesses.
What makes Thras.io particularly unique is their 45-day end-to-end process for making an acquisition happen. If you don’t know what an Amazon FBA business is, here’s a one sentence description:
FBA stands for “Fulfilled by Amazon” – an Amazon FBA business is a one where you pick a product, find the supplier of that product, order it, ship it (usually to yourself first) and then send it onto Amazon who then takes it from there, i.e. runs fulfillment.
If you want to do a deeper dive into the Amazon FBA business model here’s a great article from Empire Flippers about it.
Thras.io is special for a lot of reasons, but two of the main reasons are:
- The founders – Carlos and Josh are serial entrepreneurs and it’s safe to say they have both the experience, network, and magic to do incredible things in just about any space. In this case, they deeply understand Amazon FBA businesses and have a streamlined and repeatable model for buying them and making good money through each transaction.
- The focus – rather than looking at a broad range of companies like most PE firms, Thras.io is hyper-focused specifically on Amazon FBA businesses. This has allowed them to really go deep and get really good and analyzing this exact type of business.
Huge congrats to Josh, Carlos and the whole team over at Thras.io, very inspiring and something tells me this is a pretty exciting weekend for everyone over there. Now, onto the billion dollar valuation!