Jeremy Cai

Jeremy Cai is an American entrepreneur and angel investor who founded Italic, a luxury goods marketplace that eliminates brand markups by selling directly from manufacturers.^[1] The company reached $29 million in annual revenue in 2024 by offering products at 50-80% lower prices than traditional luxury brands.^[9] Cai previously co-founded Fountain, a hiring automation platform for hourly workers, and Carbon, a data connectivity platform acquired by Perplexity in 2024.^[3]

A Thiel Fellow who dropped out of Babson College in 2015, Cai has invested in over 130 startups as an angel investor.^[10] Italic was recognized by Fast Company as one of the Top 10 Most Innovative Retail Companies in 2021 and is now sold through major retailers including Nordstrom.^[6]

Cai grew up in Chicago in a family with manufacturing business background.^[3] He attended Babson College but dropped out in 2015 to accept a Thiel Fellowship, a prestigious program that provides $100,000 to young entrepreneurs who leave school to pursue their ventures.^[7]

Fountain (2014–2018)

Cai co-founded Fountain in 2014 as a hiring automation platform designed for hourly workers.^[3] The company was accepted into Y Combinator's Summer 2015 batch and grew to serve Fortune 500 companies with its automated recruiting and onboarding technology.^[4] Cai served as Chief Operating Officer, building the platform's operational infrastructure before leaving in 2018 to pursue his next venture.^[10]

Italic (2018–present)

Cai founded Italic in 2018 with the premise of connecting consumers directly with the same manufacturers that produce goods for luxury brands.^[1] The company's model eliminates brand markups by selling unbranded versions of high-quality products across categories including apparel, home goods, accessories, and beauty.^[2] Italic reached $29 million in annual revenue in 2024 with approximately 71 employees.^[9]

In 2024, Cai shifted the company's strategy from rapid product expansion to curation and brand building.^[1] The company reduced its growth spending by five times while maintaining revenue growth, focusing on organic customer acquisition over paid advertising.^[1] Italic products are now sold through major retailers including Nordstrom, marking the company's evolution from marketplace to brand.^[6]

Carbon and other ventures (2018–2024)

Alongside Italic, Cai co-founded Carbon, a data connectivity platform for AI applications.^[3] The company was acquired by Perplexity in 2024.^[10] Cai has also been active as an angel investor, backing over 130 startups with a combined valuation exceeding $1 billion.^[10]

Italic was named one of Fast Company's Top 10 Most Innovative Retail Companies in 2021 for its direct-to-manufacturer model.^[7] Cai was selected as a Thiel Fellow in 2015, joining a cohort of young entrepreneurs who received funding to pursue ventures outside traditional education.^[7]

Cai has appeared on podcasts including The Founder Hour and RETHINK Retail, discussing the evolution of direct-to-consumer retail and manufacturing partnerships.^[4][5] He is a member of Gold House, an organization supporting Asian Pacific leaders in business and culture.^[7]