In leaked memo, Thrasio announces significant layoffs and a new CEO as the Amazon aggregator space continues to face slowdown
From: Carlos Cashman, CEO and Danny Boockvar, President Thrashers,As you know, we've been working to execute a transformation that will strengthen the foundation we've built and ensure we're set up for a strong and sustainable future. As we've assessed the market landscape and our organization, we continue to see significant opportunities ahead, and we need to make some strategic and operational changes to ensure Thrasio is positioned for long-term success.
We know this is a lot to take in. We are sharing some perspective on why and how we made these decisions, and important information on next steps.In less than four years of hypergrowth since our founding, we became a top 5 seller on Amazon and launched a category that has inspired some 150+ global competitors and driven nearly $15 billion in capital raised. Our scale and reach is remarkable: we estimate that 1 in 6 US households has purchased a Thrasio product.
Our transformation process has already led to several important adjustments to our business focus: refining our M&A machine to ensure our platform can optimally integrate our acquisitions, streamlining products, and focusing our operations in corporate development, product, and marketing. In addition, we've identified where we need to continue to scale our internal systems to capture the opportunities in front of us and support our ongoing growth.
To those of you who are saying goodbye to teammates, take this time to honor and support your colleagues who are leaving. Share contacts, make introductions, and find other ways to help them.Impacted Employees: This evening , you will receive a calendar invite to a 1:1 departure meeting to take place with a leader on your team either tomorrow or Wednesday, May 4. Your final working day will be May 13.accelerated vesting of some of your options.
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