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A digital media company that offers city guides for metropolitan hubs like New York City, Miami and San Francisco. The company recommends restaurants, products and events via free, daily emails and also operates JackThreads, a flash sales site for men’s clothing. The company has raised $15 million from Oak Investment Partners, Lerer Ventures and Pilot Group since founding.
Thrillist has grown into a mini-media empire, spawning two additional websites and an e-commerce company that together saw revenues jump 53% last year, to $85 million. Advisers are urging the pair, now 32 and 34, to consider taking it public -- a show of confidence in their decision to sell things rather than rely heavily on advertising.
The web site Thrillist publishes daily e-mails aimed at a young, male audience, with tips about activities in various cities. But along with that content, it offers separate e-mails selling clothes and deals at local businesses, melding commerce and content in ways that have long made traditional publications bristle.
Ben Lerer, co-founder and chief executive of Thrillist Media, says his company’s acquisition of members-only online retailer JackThreads.com is a look into the future of media. “It’s what a modern media company looks like,” Lerer said. “Content plus commerce.”
In publishing, there's something called voice: the parlance of a certain outlet that jibes with its target demographic. Thrillist, the newsletter and ecommerce startup, has nailed its own demographic.
Ben Lerer was curious whether his online men's clothing store JackThreads would be viable outside the U.S. So one day earlier this year, he asked his Web developers to flip the switch. Suddenly, shoppers in Australia, Canada and the U.K. could begin ordering Duplex hoodies and Breda watches from JackThreads to be shipped to their homes. In just three weeks, those markets accounted for 15 percent of the division's sales.
At a time when men define themselves by their phones as much as they do their cars, Thrillist Media Group sees an opening for a new web publication to help young guys shop for tech. Launching on Oct. 23, Supercompressor will take a broader lifestyle approach; it’s not for guys looking to tear apart their motherboards. “This is not Engadget and Gizmodo,” explained Thrillist CEO Ben Lerer. “This is lifestyle tech; gear and gadgets.”
Thrillist's inception is not unlike the origin stories of many other companies: Two guys were looking for a product that didn't exist — in this case, a city guide that spoke to their particular demographic — and so they built it themselves.
Try these numbers on for size: 4 million subscribers, projected 2013 revenue of $75 million to $100 million. According to Jason Ross, founder and CEO of members-only men's fashion site JackThreads, that's what happens when you create a shopping experience that keeps customers coming back for more.
Ben Lerer used to make money by telling dudes where to spend their money, via his Thrillist email startup. He still does that, but now he also gets dudes to spend money via his JackThreads e-commerce site. Now Lerer has figured out a new line extension: Selling stuff to dudes overseas, via their phones.
In some ways, growth has come easy to Thrillist, the media property that University of Pennsylvania buddies Ben Lerer and Adam Rich launched in 2005 as a daily email lifestyle guide to New York. Seeded with close to $2 million from Bob Pittman's Pilot Group, the company turned a profit within two years as liquor and fashion advertisers sought to hang out with Thrillist's hard-to-reach cadre of young, affluent guys.
Thrillist Media Group has been telling young, urban makes what to eat, drink and buy since it launched as a daily newsletter in 2005. Now it wants to tell them where to go.
Men’s flash-sale site JackThreads today launched the private label line Goodale. There are 20 items in the first collection, with price points between $30 and $60, depending on the fabrication. Some basic items, such as denim and chinos in the bottoms category, will likely become replenishment offerings, while tops and sweaters that have more of a fashion component will have seasonal availability.
Lerer is excited about content and commerce. Really excited. That might be because his 260-person company Thrillist Media Group, which is on track to do $75 million to $100 million in revenue this year, is the first company to introduce what he’s calling “native commerce".
Mobile accounts for 68% of Jackthreads.com's traffic and more than 50% of its revenue. The vast majority of the retailer's mobile sales come from its iPhone app, which is designed to provide all the elements needed for mobile shopping, and nothing that's superfluous.
New York, NY (June 25, 2014) – Thrillist Media Group (TMG) is excited to announce the launch of Thrillist Nashville, sponsored by Jack Daniel’s Family of Brands.
New York, NY (June 5, 2014) - Thrillist Media Group (TMG) is excited to announce 'Best Day of Your Life' (#BDOYL) - the 2nd annual national holiday and celebration of all things awesome, on the longest day of the year.
New York, NY (May 6, 2014) - Thrillist Media Group (TMG) is excited to announce the launch of Thrillist Houston.
New York, NY (November 11, 2013) – Thrillist Media Group (TMG) is excited to announce the launch of “Shops” – a fully-integrated commerce experience on Thrillist and Supercompressor, sponsored at launch by Outlook.com, the official email sponsor.
New York, NY (October 24, 2013) – Thrillist Media Group is excited to announce the expansion of Jackthreads to Mexico, Russia, Germany, France, Japan, Korea, Hong Kong, Singapore, Italy, New Zealand and Switzerland.
New York, NY (September 20, 2013) – Jackthreads is excited to announce the release of its newly rebuilt Android app. The men’s online retailer has already seen incredible success on mobile, which currently accounts for two-thirds of total traffic and nearly half of sales. With the launch of the new app, the company projects that mobile revenue will grow by more than 350 percent over 2012.
New York, NY (September 3, 2013) – Thrillist Media Group is excited to announce the release of Thrillist’s new, entirely recreated iPhone app, sponsored at launch by Acura MDX.
New York, NY (August 7, 2013) – Thrillist is excited to announce its plans to invest deeper into local content, launching in over 40 new cities by the end of next year with the ultimate goal of servicing its audience of young, urban men wherever they go.
New York, NY (May 15, 2013) – JackThreads is excited to announce the release of its first iPad app.