Thrillist

History

Thrillist was founded in 2004 by Ben Lerer, son of media executive Kenneth Lerer, and Adam Rich, his friend from college. They graduated from the University of Pennsylvania in 2003 and moved to New York City. Rich serves as President, and Ben Robinson is the Chief Creative Officer. Lerer and Rich sent the first Thrillist e-mail newsletter in 2005 to 600 friends. In early 2017, following layoffs of more than 25 employees, the Thrillist editorial, video, and distribution staffs announced plans to unionize with the Writers Guild of America East. In response, Lerer refused to voluntarily recognize and held anti-union, captive audience meetings despite more than 85% of the editorial staff having signed union cards.

Former business ventures

In May 2010, Thrillist acquired online mens fashion retailer JackThreads.

In March 2011, TMG hired Eric Ashman as Chief Financial Officer from the Huffington Post. In 2012, Ashman was charged with committing accounting fraud by the SEC while working as CFO at The Street and was "barred from acting as a director or officer of a public company for three years."

In February 2012, Lerer announced the creation of the Thrillist Media Group (TMG), which combined Thrillist, deal site Thrillist Rewards, and JackThreads. In August 2012, the media group led a $13 million fundraising round, from OAK, the Pilot Group, and Lerer Ventures.

In March 2013 TMG discontinued Thrillist Rewards, citing slow growth, and also launched The Crosby Press, a site designed to market JackThreads products by providing content aimed at a target audience of men in their late teens to early twenties. By May 2015, The Crosby Press had been closed by TMG. In October 2013, TMG launched the tech site Supercompressor, which focused on gear and gadgets for a young male audience. Supercompressor was discontinued as a site in September 2015.

In September 2015, TMG announced it raised $54 million in total from European publisher Axel Springer, Oak Investment Partners and SBNY. As part of the transaction, Thrillist separated its businesses, with Thrillist Media group operating the media site, Thrillist, while the e-commerce company operated JackThreads.

In October 2016, TMG merged with The Dodo, NowThis News and Seeker to form Group Nine Media. The newly formed holding company received a $100 million strategic investment from Discovery Communications Inc.

In February 2017, JackThreads laid off most of its staff in preparation to "cease operations as an independent company." A number of customers subsequently experienced problems with returns, canceled orders, and items that never shipped.