On Wednesday (Dec. 15), third-party aggregator Thrasio Holdings, Inc. — which boasts more than $1 billion in annual revenue and more than 200 brands under its stewardship — added product development and launch capabilities to its prowess as an acquirer.
Per a press release, Thrasio estimates that one out of every six U.S. households has purchased a Thrasio product through Amazon, and the company has now added brick-and-mortar expertise through its acquisition of Cleveland-based retailer IdeaStream.
“Adding IdeaStream’s amazing team to ours and being able to build off the platform that they created is a huge step in helping us sell more of our goods in brick-and-mortar locations as we give our customers more access to our products,” Carlos Cashman, CEO and co-founder of Thrasio, said in the company announcement.
Tony DeCarlo, co-founder and CEO of IdeaStream, called the acquisition by Thrasio “a natural fit.”
“Their eCommerce experience and our brick-and-mortar expertise is a winning combination,” DeCarlo said. “We’re looking forward to putting more Thrasio brands on store shelves so that customers everywhere have greater access to top-rated products.”
Thrasio’s new brand includes a new logo, revamped website, updated social media profiles, marketing materials and more.
“We see this company as a catalyst, constantly providing better experiences for more people,” said Arturo Aranda, director of brands with Thrasio’s in-house branding agency, Brand Central. “We want an identity that reflects our company’s values and culture. It’s super bold, super colorful, and super positive. It’s the opposite of boring. We had a lot of fun bringing this to life.”
Thrasio’s in-house product development and launch team can update existing products, launch line extensions and create new products and brands, according to the release.
The group has recently added engineers, industrial designers and product launch specialists, among others, and has about 20 patents filed and 200 products launched.
“Our updated brand and expanded capabilities are all in service of the next stage of Thrasio’s growth,” Danny Boockvar, president of Thrasio, said in the release.
Related: Thrasio Grabs $1B+ in Private Funding Round
In October, Thrasio raised more than $1 billion in a Series D fundraising effort led by technology investment platform Silver Lake, increasing Thrasio’s valuation to more than $5 billion.
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