Thrive Market Becomes YML’s Ninth Startup to Reach IPO or a Billion-Dollar ValuationBy YML
Recently, it’s been speculated that Thrive Market — the sustainable online membership-based grocer — is considering an initial public offering at a valuation of more than $2 billion. YML partnered with Thrive to build an e-commerce and digital ecosystem across web and mobile, along with an auto-ship strategy to increase recurring revenue.
Thrive Market is the ninth start-up YML has laid the digital foundation for that has since filed for IPO or been valued at more than a billion dollars. True to YML’s ethos to build digital products that export the Silicon Valley mindset to the world — experimentation, speed and innovation — YML helps create value for clients by creating valuable experiences for their customers. Below is a list of the nine startups YML has partnered with and that are now experiencing exponential growth.
YML partnered to design the first Credit Karma app, contributing to their growth and eventual acquisition in 2020 by Intuit for $7.1 billion (Intuit’s biggest-ever acquisition to date, and one of the biggest in the category of privately-held FinTech companies).
YML built the technology powering the PayPal app, which processes over $12 billion in year-over-year transactions. We helped engineer a foundational transformation of PayPal’s digital experience, one that has advanced digital commerce and peer-to-peer payments, with a mobile-first user in mind.
YML partnered with Mercari to build their first app, creating a digital experience that paved the way for people to easily buy, sell and ship items across the nation. When Mercari went public in 2018, they raised $1.2 billion.
Thrive Market is an online grocery retailer delivering sustainable, ethical consumer products nationwide. YML helped them launch a new e-commerce and digital ecosystem across web and mobile, with an emphasis on increasing sign-ups and first-time purchases. Designed by YML, the new experience catalogs more than 7,000 items and offers a more personalized way for consumers to build and ship their groceries. Since the start of their partnership with YML, Thrive Market has experienced a 9.7% increase in membership sign-ups and a 16% increase in first time orders, and the app currently has a 4.9 rating in the App Store and over 63K reviews. They've also won multiple awards including Fast Company Most Innovative Food Company, three Webby Awards across visual design and e-commerce apps and software, and Modern Retail's Best Personalization Strategy.
Today, more than 1 in 10 new apartments in the U.S. have Latch smart locks. YML built the first Latch app, providing safe and secure access to millions of homeowners nationwide. At the time of their IPO, they were valued at $1.5 billion.
YML helped CEO and Silicon Valley legend Tom Siebel design a website for C3.ai that was as simple and innovative as the product itself. The result was a future-forward, user-friendly and aesthetic platform. C3.ai had a successful IPO raising $651 million in new funding in 2020.
iRhythm is a complete ambulatory cardiac monitoring solution built with the patient in mind — and reinforced with clinical evidence. Before it was valued at over $1B, iRhythm partnered with YML on building their original digital experience, emphasizing the product's superior clinical accuracy, exceptional patient experience and the lower cost of care
As a design partner, YML worked with Bill.com to build their first intelligent, easy-to-use digital interface to create and pay bills, send invoices, and get paid faster. In December 2020, Bill.com went public with a $1.6 billion valuation — one of the best IPOs in FinTech since the industry was born in 2005. Listen to Bill.com's Founder and CEO, Rene LaCerte, on the Y in the Valley podcast, hosted by Ashish Toshniwal (CEO and co-founder, YML), as he shares how he built the FinTech platform currently valued at $10 billion.
YML built the HealthEquity app for Android. This startup focuses on empowering working Americans to gain more choice and control over their healthcare and financial future.
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