Recording of the Everything Marketplaces Group Chat #209 (4/7) with Fabrice Grinda, who’s a Founding Partner at FJ Labs. FJ Labs is an early-stage venture fund that's backed over 1,200+ startups, including marketplaces like Alibaba, Flexport, Clutch, and more.

0:04 Intro
‍0:58 Fabrice's background
‍1:44 What Fabrice looks for in marketplaces when investing
‍4:46 The state of marketplaces with AI
‍17:28 New strategies for AI-native marketplaces
‍19:03 Growth rates for marketplaces with AI
‍22:50 How AI is changing the capital needs for marketplaces
‍25:40 Defensibility for marketplaces in the age of AI
‍28:13 Tips for founders starting marketplaces in 2026
‍31:08 Group Q&A on how investors evaluate managed marketplaces
‍33:44 Group Q&A on tips for transitioning to being AI-native
‍34:55 Group Q&A on calculating LTV
‍36:45 Group Q&A on seller-side CAC
‍38:17 Group Q&A on fundraising benchmarks in 2026
‍40:10 Parting marketplace advice
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Fabrice on Twitter/X: https://www.x.com/fabricegrinda
Fabrice on LinkedIn: https://www.linkedin.com/in/fabricegrinda
FJ Labs: https://www.fjlabs.com
Fabrice's blog: https://www.fabricegrinda.com
Mike (Yoroomie) on Twitter/X: ⁠⁠⁠⁠⁠https://www.x.com/yoroomie⁠⁠⁠⁠⁠⁠
Mike (Yoroomie) on LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/yoroomie
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You can also find this group chat in audio format as an episode on our Everything Marketplaces podcast on Apple Podcasts and Spotify. You can also connect with marketplace founders & leaders from our group chats in the Everything Marketplaces community.