Amazon aggregator Thrasio Holdings Inc has announced to onboard Greg Greeley on its Board of Directors who is set to become the company's next CEO in August. Greeley will succeed current CEO and Co-Founder Carlos Cashman. Cashman will remain on the Thrasio Board as a Director.
The announcement comes at a time when Thrasio is reported to be looking to lay off a portion of its employees this week. As per the latest reports, the company already facing tough business challenges in the aggregator business model is looking to slice its costs via layoffs.
Earlier Greeley has served as President of Airbnb, where he oversaw the company's $30 billion-plus Homes business. He spent nearly 19 years at Amazon, where he served in a variety of leadership positions.
“Thrasio continues to blaze the trail. It's been truly remarkable and it's still early in a marketplace with nearly $400 billion in total third-party sales in 2021 and trillions more in the broader retail ecosystem,” Greeley said in a statement.
Founded in 2018 by Joshua Silberstein and Cashman, Thrasio has a portfolio of tens of thousands of products. “I have been passionate about bringing products people to love to the world and about the talented people who are making this vision a reality,” he said.
In January this year, Thrasio Holdings said it will invest Rs 3,750 crore (nearly $500 million) to acquire leading digital-first brands in India. Thrasio started its Indian innings by acquiring Lifelong Online, a leading domestic online consumer brand, for an undisclosed sum.
India is one of the fastest-growing regions for Amazon's third-party marketplace, making it enticing for aggregators. Thrasio has acquired more than 200 brands and raised more than $3.4 billion in funding.