Thrive Market

Thrive Market is an American e-commerce membership platform, offering natural and organic products for less. Founded by Nick Green, Gunnar Lovelace, Kate Mulling, and Sasha Siddhartha, Thrive Market has raised $141 million across three rounds of funding since launching in November 2014.^[1] For every paid Thrive Market membership, a membership is donated to a family in need in the U.S.^[2]

History

Thrive Market launched in November 2014 to address the geographical and monetary challenges that bar communities from healthy food.^[3] 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.^[4]

When Green and Lovelace initially tried to raise money for Thrive Market, they were rejected by more than 50 venture-capital firms ^[5]]. They instead focused on building a network of 200+ health and wellness investors - including Deepak Chopra, Tony Robbins, and Jillian Michaels - to individually support Thrive Market.^[6] To-date, Thrive Market has raised $141 million from Greycroft Partners, E-Ventures, Cross Culture Ventures and Invus, as well as celebrities including John Legend, Will Smith and Demi Moore.^[6][7]

Thrive Market members pay an annual membership fee of $59.95 per year for 25-50% off traditional retail prices, with free shipping for orders over $49.^[8]

Thrive Market has two fulfillment centers at Batesville, Indiana^[9] and Tahoe Reno Industrial Center near Reno, Nevada, ensuring 2-day delivery to 85% of the country.^[1][10] The company currently employs more than 500 people ^[1]

In February 2016, Thrive Market launched a mobile app, available for iOS and Android systems ^[6][7]

Co-founders Nick Green and Gunnar Lovelace appeared on CBS This Morning in May 2016 ^[11]

In June 2016, Thrive Market launched an online petition asking the USDA to accept food stamps online.^[12]

Products

Thrive Market is the largest national retailer of exclusively non-GMO foods ^[13] The brand launched their own product line in November 2015, aiming to develop affordable products in categories where there is not enough margin to cover cost ^[14] The brand currently offers more than 50 different SKUs, including coconut oil, tomato sauce, olive oil, baking goods, spices and more ^[15]

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 ^[16] To-date, Thrive Market has given away over 350,000 memberships ^[17] Thrive Market has also provided memberships and stipends for families affected by Walmart closings in Wichita, KS, Denver, CO, Chicago, IL, water shortages in Flint, MI and floods in Louisiana.^[18] Thrive Market also works closely with the True Sioux Hope Foundation to provide healthy offerings for Native communities ^[19] During the 2015 holiday season, Thrive Market teamed up with Feeding America to allow customers to donate their shopping savings to the non-profit at checkout ^[20] In early 2016, they launched 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.^[21]

USDA Petition

In June 2016, Thrive Market launched a petition to the USDA to bring food stamps online. With support from Kristen Bell, Rosario Dawson, Matthew McConaughey, Russell Simmons, Arianna Huffington, Deepak Chopra and more, Thrive Market garnered more than 310,000 signatures by September 2016.^[22]

Soon after the petition launched, Gunnar Lovelace participated in a congressional briefing hosted by Congressman Tim Ryan and actress/activist Shailene Woodley ^[23] Lovelace also met with Senior Nutrition Policy Advisor Debra Eschmeyer and USDA officials in the White House^[24] On September 25, 2016, the USDA announced plans for its pilot program and call for volunteers to apply for participation.^[25]

References