Thrive Market is an American e-commerce membership-based retailer offering natural and organic food products at reduced costs. It was founded by Nick Green, Gunnar Lovelace, Kate Mulling, and Sasha Siddhartha. By 2016 they had raised $141 million across three rounds of funding following their launch in November 2014. For every paid Thrive Market membership, a free membership is donated to a family in need in the United States.
Video Thrive Market
History
Thrive Market was launched in November 2014 to address the geographical and monetary challenges that bar communities from healthy food. Lovelace grew up on an organic farm in Ojai, California and saw firsthand the power of group buying as a way to both make healthy food affordable and build community.
When Green and Lovelace initially tried to raise money for Thrive Market, they were rejected by more than 50 venture-capital firms. They then focused on building a network of more than 200 health and wellness investors--including Deepak Chopra, Tony Robbins, and Jillian Michaels--to support Thrive Market individually. As of 2016, Thrive Market has raised $141 million from Greycroft Partners, E-Ventures, Cross Culture Ventures, and Invus, as well as from celebrities including John Legend, Will Smith, and Demi Moore.
Thrive Market members pay an annual membership fee of $59.95 for 25-50% off traditional retail prices and free shipping for orders amounting to more than $49.
Thrive Market has two fulfillment centers from which distribution is made, one at Batesville, Indiana, and another at Tahoe Reno Industrial Center near Reno, Nevada. They advertise delivery to 85% of the United States within two days. The company currently employs more than 500 people.
In February 2016, Thrive Market launched a mobile app, available for iOS and Android systems.
Co-founders Nick Green and Gunnar Lovelace appeared on CBS This Morning in May 2016.
In June 2016, Thrive Market launched an online petition asking the USDA to accept food stamps online.
Maps Thrive Market
Products
Thrive Market is the largest national retailer of exclusively non-GMO foods. They launched their own product line in November 2015, aiming to develop affordable products in categories where there is not enough margin to cover cost. They currently offer more than 50 different items by SKUs, including coconut oil, tomato sauce, olive oil, baking goods, and spices.
Donation program
For every paid Thrive Market membership, a membership is donated to a military veteran, public school teacher, or a low-income family in need in the U.S. through the Thrive Gives program. During 2016, Thrive Market noted that they had given away more than 350,000 memberships. Thrive Market also has provided memberships and stipends for families affected by Walmart closings in Wichita, Kansas, Denver, Colorado, and Chicago, Illinois; areas affected by water shortages in Flint, Michigan; and areas affected by floods in Louisiana. Thrive Market also works closely with the True Sioux Hope Foundation to provide healthy offerings for native communities, During the 2015 holiday season, Thrive Market teamed up with Feeding America to allow customers to donate their shopping savings to the nonprofit at checkout. In early 2016, they launched a campaign entitled, Spread the Health, which allows customers to donate a portion of their savings at checkout with every dollar donated going directly into the shopping cart of a low-income Thrive Gives family.
USDA petition
In June 2016, Thrive Market launched a petition to the USDA to enable food stamp shopping online. With support from Kristen Bell, Rosario Dawson, Matthew McConaughey, Russell Simmons, Arianna Huffington, Deepak Chopra, and others, Thrive Market garnered more than 310,000 petition signatures by September 2016.
Soon after the petition launched, Gunnar Lovelace participated in a congressional briefing hosted by Congressman Tim Ryan and actress-activist Shailene Woodley. Lovelace also met with Senior Nutrition Policy Advisor Debra Eschmeyer and USDA officials in the White House. On September 25, 2016, the USDA announced plans for its pilot program for online shopping and called for volunteers to apply for participation.
References
Source of article : Wikipedia
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