Benzinga | Jun 13, 2021 11:55AM EDT

Thrasio In Talks To Merge With SPAC Churchill Capital V: Report

* Thrasio, a start-up company that rolls up Amazon.com, Inc. (NASDAQ:AMZN) marketplace brands, is in talks to go public through a merger with the blank check company Churchill Capital V Corp (NYSE:CCV), Bloomberg reported, citing people with knowledge of the matter.

* No deal has been finalized yet, and the merger could fall apart, the report said.

* Thrasio could be valued at $2 billion in the merger. According to people familiar with the subject, the valuation may reach up to $10 billion, the Friday report said.

* Former Citigroup Inc. (NYSE:C) rainmaker Michael Klein set up Churchill Capital V.

* In January, Thrasio raised $500 million via JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc. (NYSE:GS) and the asset management arm of Royal Bank of Canada (TSE: RY).

* The company has also raised $260 million in C funding led by Advent International.

* Thrasio aims to capitalize on Amazon's e-commerce dominance by acquiring new sellers on its third-party marketplace.

* In December 2020, Churchill Capital V raised $500 million in its initial public offering.