A day of reckoning has come for Thrasio, one of the bigger startups buying up and consolidating third-party Amazon sellers. TechCrunch has learned from sources that the company, valued last year at between $5 billion and $10 billion, is going to be laying off a portion of its employees this week. That news is coming at the same time that Thrasio is changing its leadership: today it announced that Greg Greeley, a former president of Airbnb and a longtime Amazon executive, is joining its board and taking on the role of CEO this August.
He will be succeeding Carlos Cashman, one of the co-founders of the company, who will remain on Thrasio’s board as a director.
The layoffs and new CEO appointment are the latest developments in a series of ups and downs for Thrasio in the last six months that underscore some of the challenges in the aggregator business model:Tech Crunch