The Thrasio model has become an instant hit in the Indian startup ecosystem. The model works on the concept of acquiring the existing brands selling online. Over $300 million has already been invested in the Thrasio modelled startups. GlobalBees is one such startup that has adopted the Thrasio concept. Recently, it has created a history in the Indian startup ecosystem by the fundraising of $150 million in the Series A round.
GlobalBees is a three-month-old startup co-founded by Nitin Agarwal and Supam Maheshwari. Earlier, Nitin worked in Edelweiss Financial, while Supam is the founder of FirstCry.
The startup acquires the rising brands those having a revenue rate of $1 million to $20 million. It targets the digital brands operating in different categories including fashion, home and kitchen, electronic appliances, beauty, personal care, sports and others.
After acquiring such brands, GlobalBees help them in further scaling and revenue growth. The firm applies advanced marketing mechanisms and other tools to grow these brands on e-commerce platforms like Flipkart and Amazon. Not only that, but the company also initiate these brands’ operations globally.
In an interview with TechCrunch, GlobalBees’ founder Nitin Agarwal claimed that the startup has already collaborated with 12+ digital brands. These brands are currently providing their product and services in the local and global market both.
How GlobalBees Acquires Digital Brands?
To acquire or collaborate with a brand, GlobalBees has a step by step procedure. Under the initial step, the GlobalBees team try to understand the digital brand it is going to acquire. For that, the startup goes through the revenue number and the products that the brand is selling. The startup also learns the brand connection with the consumers for long term growth.
After finalizing the first step, the GlobalBees team prepare the contractual agreement with the founders and all terms and conditions related to payout are set. After that, GlobalBees starts its magic to grow the acquired brands further. A team of experts from GlobalBees closely works with digital brands for further growth.
GlobalBees has created an uproar in the Indian startup ecosystem in a short period. A few days back, the startup raised a record breaking $150 million in Series A round.
GlobalBees is not the only player that has adopted the Thrasio model in India. Powerhouse91, Mensa Brands, 10club, and UpScale are other known startups that have implemented the Thrasio model to acquire digital brands.