Thrasio is the U.S.’s top aggregator AmazonTo fuel their rapid growth, third-party vendors were racing for the public markets. According to sources familiar with the matter, the company delayed going public via a SPAC due to complications in its financial audits.

Thrasio originally planned to merge with a special purpose acquisition firm by the close of the year. But, Thrasio’s plans changed over the summer. People said that the company is still considering a SPAC and was also looking at other financing options including an IPO.

Thrasio is experiencing increased turnover within the C-suite. Bill Wafford is the Chief Financial Officer of Thrasio. He was a former J.C. Penney CEO. after joiningIt was. Thrasio stated that the company appointed Brian Cooper, Chairman of Networx Marketing Company, to be its interim Chief Financial Officer

Co-founder Josh Silberstein quit his position as co-CEO last month. Carlos Cashman, another co-founder, will continue to be the company’s only CEO.

BloombergIt was reported in June by Thrasio that he was in negotiations to be made public via a merger of the SPAC and Thrasio. CitigroupMichael Klein, executive at Thrasio could be valued as high as $10 Billion. Thrasio oversees 200 Amazon brands and made auditing more complicated than usual ecommerce or tech company.

CNBC interviewed Daniel Boockvar on Friday, the president of Thrasio. He confirmed to CNBC that Thrasio had decided to not pursue a SPAC at the moment, but he added, “We never declared firm plans to publicly go public via SPAC.”

Boockvar stated in an interview that “Ultimately our leadership team, as well as our board, looked at the market which was no surprise and concluded that publicizing via SPAC wasn’t the best choice.” “We are growing our business privately amazingly well and that is exactly what we will continue to do.”

Boockvar did not comment whether or not the company was considering an IPO, other funding options, but stated that “all options” are open to them.

Thrasio was established in 2018 and is backed by its peer brands, Perch, Heyday, and Branded. Thrasio buys promising products and storesfronts with the aim of using their operational knowledge and data to boost sales. According to the Amazon aggregaters report, at least 77 have raised approximately $10 billion since April 2020. Marketplace Pulse

Thrasio, last month saidThe company raised $650 million through a senior loan facility. This brings its total equity and debt to $2.3B. More than 200 brands are now under its control, including over 22,000 products from a wide range of product categories such as skincare and camping gear to home and fitness goods.

Thrasio is ranked 22nd CNBC’s Disruptor 50List this year.

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