This Week in Startups E1094: Thrasio Co-CEO Josh Silberstein acquires & operates 60+ Amazon brands, shares insights on mastering the marketplace, competing with AmazonBasics & more
Aug 11, 2020
Josh Silberstein, Co-CEO of Thrasio, shares his expertise in acquiring and managing over 60 Amazon brands. He delves into navigating the challenges of brand acquisitions, including valuation and operational difficulties. The conversation highlights Thrasio's competitive strategies against established players like AmazonBasics and the importance of product quality. Silberstein also discusses the vital role of third-party sellers on Amazon and the implications of e-commerce giants like Amazon and Walmart on market dynamics.
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Thrasio's Brand Building Strategy
- Thrasio plans to build a brand (Zaba) focused on trust and quality, rather than specific product attributes.
- They believe this approach can differentiate them in a market where brands are becoming less familiar.
Thrasio's Product Development
- Thrasio is developing 20-30 new products in-house, focusing on improving existing products rather than entirely new inventions.
- Releasing new products requires significant differentiation to overcome established market leaders.
Advertising on Amazon
- While advertising on Amazon is often profitable, consistent success on Google Ads is rarer.
- Less than 10% of Amazon sellers effectively utilize Google advertising.