Over the last decade marketplaces and network effect businesses have gained strong investor interest due to their value.
Last year, marketplace startups raised $56 billion in venture capital funding, just behind fintech startups that collectively raised approximately $65 billion.
However, while marketplaces garnered the second largest portion of VC funding in the tech industry, funding for marketplaces in 2022 was down 50% year-over-year, mirroring the overall decline in venture funding.
In the current climate, fundraising is difficult for startup founders across industries. But if you ask serial entrepreneur and investor Fabrice Grinda, the current climate also presents opportunities.
“I would argue, this is the very best moment to found a company,” Fabrice says. “The posers and the people that were in it for the quick buck, the consultants and bankers and lawyers and doctors who had no business being founders, basically have been weaned out and left.”
Fabrice Grinda is among the world’s leading Internet entrepreneurs and investors. He has more than 300 exits on 1000 angel investments, and has served as CEO for three multinational companies. Today, he serves as the founding partner of FJ Labs, a VC firm focused on marketplaces and network effect businesses.
On December 12, he’ll lead a Founders Network webinar to provide insights on startup fundraising in the current economic climate. The event will also serve as a masterclass on marketplace startups and will cover:
About the Speaker:
Fabrice Grinda is among the world’s leading Internet entrepreneurs and investors. He has over 300 exits on 1000 angel investments. Fabrice has served as CEO for three multinational companies and has an impressive track record as an early investor in Alibaba, Coupang, Airbnb, Instacart, Flexport, Delivery Hero, and many more. Fabrice is currently Founding Partner at venture fund FJ Labs, which he co-founded with business partner Jose Marin. Fabrice was named the #1 Angel Investor in the world by Forbes.
Prior to FJ Labs, Fabrice was co-Founder and co-CEO of OLX, one of the largest websites in the world with over 300 million unique visitors per month. The company operates in 30 countries and has over 10,000 employees. OLX is the largest classifieds site in Russia, Brazil, India, Pakistan, Poland, Ukraine, Romania, Portugal and many other markets.
Prior to OLX, he was the CEO and founder of Zingy, a mobile content company, which he grew to over $200 million in annual revenues and profitability in 4 years.
Fabrice started his entrepreneurial journey in 1998, at 23, when he founded and was CEO of Aucland. Soon after, Aucland grew into one of the largest auction sites in Europe.
Before his entrepreneurial endeavors, Fabrice worked as a management consultant for McKinsey & Company.
Fabrice holds a BA in Economics from Princeton University. He graduated Summa Cum Laude in 1996, and was awarded the Halbert White prize, given to the most distinguished economics student, as well as The Wolfe Balleisen memorial prize, awarded for best thesis. In his free time, Fabrice likes to travel the world, kitesurf, play tennis, and blog about his personal and professional life at www.fabricegrinda.com.
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About Founders Network:
Founded in 2011, Founders Network offers lifelong peer mentorship to over 600 tech startup founders globally. Our platform, programs and high-touch service facilitate authentic experience sharing, warm introductions and long-term professional relationships. Additional benefits include over $500k in startup discounts and promotion to 2,000 newsletter readers. Members are located in San Francisco, New York City, Los Angeles, Vancouver, Toronto, London and other tech hubs. Each month our Membership Committee admits a new cohort of full-time tech founders who are nominated by an existing member. Learn more about us here