{"id":22766,"date":"2023-11-07T13:04:12","date_gmt":"2023-11-07T21:04:12","guid":{"rendered":"https:\/\/foundersnetwork.com\/?p=22766"},"modified":"2024-02-13T10:26:35","modified_gmt":"2024-02-13T18:26:35","slug":"marketplace-startups-masterclass-with-fabrice-grinda-of-fj-labs","status":"publish","type":"post","link":"https:\/\/foundersnetwork.com\/marketplace-startups-masterclass-with-fabrice-grinda-of-fj-labs\/","title":{"rendered":"Marketplace Startups Masterclass with Fabrice Grinda of FJ Labs"},"content":{"rendered":"<blockquote>\n<p><b>To learn more about startup fundraising in the current economic climate, <\/b><b><a href=\"https:\/\/foundersnetwork.com\/function\/marketplace-startups-masterclass-with-fabrice-grinda-of-fj-labs\/\">register<\/a> to attend Fabrice Grinda&#8217;s <\/b><a href=\"https:\/\/youtu.be\/BmtXbpf3684\"><b>webinar<\/b><\/a><b> on December 12.<\/b><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Over the last decade marketplace startups and network effect businesses have gained strong investor interest due to their value.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Last year, marketplace startups raised $56 billion in venture capital funding, just behind fintech startups that collectively raised approximately $65 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the current climate, fundraising is difficult for startup founders across industries. But if you ask serial entrepreneur and investor <a href=\"https:\/\/fabricegrinda.com\/\">Fabrice Grinda<\/a>, the current climate also presents opportunities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI would argue, this is the very best moment to found a company,\u201d Fabrice says. \u201cThe 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.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fabrice is among the world\u2019s 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 <a href=\"https:\/\/www.fjlabs.com\/\">FJ Labs<\/a>, a VC firm focused on marketplaces and network effect businesses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On December 12, he\u2019ll lead a <a href=\"https:\/\/foundersnetwork.com\/request\/\">Founders Network<\/a> 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:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">How investors evaluate marketplace founders<br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How to build marketplaces<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Latest marketplace trends<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Here\u2019s a sneak peek.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Lean Startups<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Despite the challenges the current climate presents for startup fundraising, Fabrice says the benefit is that it forces startups to be lean. This includes a heightened emphasis on monitoring cash burn and meticulously scrutinizing unit economics, which can ultimately lead to greater success.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cYes, it is hard to raise funds,\u201d Fabrice says. \u201cYou&#8217;re going to raise money at a lower valuation. When and if you exit, it&#8217;s going to be at a lower multiple. But now you&#8217;re building a way more sound business. Right now is an amazing time to be a founder, even though it&#8217;s harder to raise.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Startup Competitors<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Research indicates startups thrive in recessions. According to data from <\/span><a href=\"https:\/\/www.cnbc.com\/2023\/01\/12\/market-history-says-a-recession-could-produce-the-next-airbnb-or-slack.html\"><span style=\"font-weight: 400;\">StartupGenome<\/span><\/a><span style=\"font-weight: 400;\">, during the 2008-2009 downturn, specifically, a number of tech unicorns were created at a total value of $150 billion. Part of the reason Fabrice believes startups are able to thrive in tough economic conditions is because there\u2019s less competition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIn 2021, when you were building a company, you had like 50 people doing the exact same thing, all with great teams, all well funded.\u00a0 Now you&#8217;re one of two or three,\u201d Fabrice says. \u201cSo this is not the moment to lose hope. This is the moment to actually go and build something. The very best companies of the 2010s were built in \u201808 and \u201809. Uber, WhatsApp, Slack, Instagram, all came in that time period.\u00a0 I suspect that the very best companies of the 2020s will have been created in \u201823.\u201d\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Marketplace Startups<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Despite the current decline in funding, marketplace startups and network effect businesses have a strong track record of success. According to Dealroom, 70% of the value created in tech over the past 24 years comes from network effects. Five out of ten of the most valuable companies in the world are built on top of strong network effects. And 63% of newly established unicorns are platforms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This value is what attracted Fabrice to marketplace startups in the first place. Before founding FJ Labs, he\u2019d already funded 150 startups as an angel investor and most of them were marketplace startups.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cMarketplaces are amazing companies,\u201d Fabrice says. \u201cThe core underlying business is reasonably capital efficient. They&#8217;re established business models and they&#8217;re great businesses. It\u2019s a winner takes all market.\u201d<\/span><\/p>\n<p><b>To learn more about startup fundraising in the current economic climate <\/b><b><a href=\"https:\/\/foundersnetwork.com\/function\/marketplace-startups-masterclass-with-fabrice-grinda-of-fj-labs\/\">register<\/a> to attend Fabrice Grinda&#8217;s<\/b><a href=\"https:\/\/youtu.be\/BmtXbpf3684\"> <b>webinar<\/b><\/a><b> on December 12.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To learn more about startup fundraising in the current economic climate, register to attend Fabrice Grinda&#8217;s webinar on December 12. Over the last decade marketplace startups and network effect businesses &#8230; <\/p>\n<div><a href=\"https:\/\/foundersnetwork.com\/marketplace-startups-masterclass-with-fabrice-grinda-of-fj-labs\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":31,"featured_media":22765,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[7171],"tags":[9796,9798,11070,11071,11053,7727,10975],"table_tags":[],"class_list":["post-22766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-investing-and-funding","tag-fundraising","tag-investors","tag-marketplace-startups","tag-marketplaces","tag-startup-investors","tag-tech-startup-advice","tag-venture-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v25.4) - 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