Joshua Silberstein is an American businessman and entrepreneur who is the current CEO of Thrasio. Thrasio is a business that provides digital consumer goods under acquired private label Amazon FBA companies as well as brands that are direct to the consumer. We were interested in knowing more about him, so we looked into Mr. Silberstein’s career history. Here are 10 things we learned about him that you might find interesting.
1. Silberstein is the founder of Thrasio
Joshua Silberstein is not only the executive in charge of leading Thrasio, he is one of the founders of the company. He and his partner established Thrasio in May of 2018, according to Crunchbase. The headquarters for the business is in Walpole, Massachusetts. It has been in business for nearly three years and is still in its infancy of development.
2. Joshua leads a unicorn company
Mr. Silberstein has achieved an amazing level of success with Thrasio in just over 2 years. The company engaged in a series of venture capital fundraising rounds. The first round of Series A funding resulted in $20 million in funding. This was followed by an additional round of funding that closed at $100 million. A round of Series C funding raised an additional $260 million and this pushed Thrasio over the top with the company reaching a valuation of $1 billion. This is almost unheard of for such a new startup. Companies that have a valuation of $1 billion or more belong to an elite and small group that is referred to as a unicorn and Thrasio has reached that pinnacle.
3. Silberstein has led multiple acquisitions
As the CEO of Thrasio, Mr. Silberstein has been involved in several acquisitions in the short time that the company has been in business. He and his co-founding partner Carlos Cashman have made a habit of acquiring third-party private label businesses from Amazon. So far, the company has made more than 50 of these acquisitions. These actions have resulted in a massive expansion of the company and have been instrumental in the company reaching its unicorn status.
4. Thrasio is a multi-tiered company
Joshua has to be at the top of his game in leading a complex company that performs multiple functions and executes them flawlessly. Thrasio acquires businesses then drives their organic growth. It’s responsible for product development, marketing and much more. It also oversees operations for each of these private companies and ensures that there is proper supply chain management for order fulfillment.
5. His responsibilities continue to expand
As the CEO of Thrasio, Joshua Silberstein gains an increasingly heavy workload of responsibilities. Thrasio has grown to a workforce of more than 300 employees along with consultants in diverse areas. The company employs people across 3 continents and 11 cities throughout the world. It currently offers more than 6,000 products that are offered for sale on Amazon and it is among the giant retailer’s top 25 sellers.
6. Silberstein is a seasoned entrepreneur and operator
According to his LinkedIn page, Joshua has been building successful companies for more than twenty years. He has served in multiple roles throughout his career, including founder, investor, CEO, and board member.
7. He has an eye for talent
In the kind of business that he is in, Joshua Silberstein has to know people and how to choose the right people for the job. The success of Thrasio depends on his ability to choose staff who are highly capable and motivated of performing necessary tasks within tight timelines and maintaining a steady pace without wavering. He has a knack for recruiting and retaining the right teams of workers who are hyper-productive. this is what helps Thrasio to continue to expand and grow at such a rapid pace. He is also a tenacious executive who has a proven track record of consistently high standards and results that are goal-oriented. His versatility is thanks to senior experience in marketing, operations, finance, sales, and other aspects of running a large and dynamic company. He is one of the most brilliant strategic planners who has made a habit of building companies from the ideas and concepts of the plan through to completion, according to Topio.
8. Joshua Silberstein has a degree in business
Mr. Silberstein attended the University of Pennsylvania at the Wharton School. He studied Economics with concentrations in finance and accounting. He achieved a 3.93 GPA. He attended from 1993 through 1997, receiving his bachelor of science degree. He continued his education with acceptance to Columbia University’s Columbia Business School. He attended from 2003 to 2005 earning Beta Gamma Sigma status and earning his MBA degree.
9. He started his career as a summer analyst
In 1996, before graduating from Wharton, he took a job with Donaldson, Lufkin & Jenrette for the summer as an analyst. He worked at the financial institution to learn about capital market transactions and learned about the IPO processes for going public, high-yield debt offerings, and secondary preferred offerings. It was a summer of learning for him, while some others were taking a break from school and work. He was serious about starting his career with a solid foundation of knowledge.
10. He is also the founder of Citywise Guides
In February of 2002, Silberstein founded another company called Citywise Guides. He also served as the chief executive officer for the company. Citywise Guides was a publishing company that created guidebooks. These books were intended to be used by urban professionals in the age group from 18 to 40. The books were made available through popular large bookstores including Borders, Barnes & Noble, as well as other notable bookstores. He maintained his leadership position with Citywise Guides for 2 years and 2 months before leaving the organization in March of 2004 to pursue other interests. Mr. Silberstein knows how to set up a business, get it on its feet then move on to pursue more of his business interests.