Recording of the Everything Marketplaces Group Chat #148 (1/9) with Jack Greco, who was previously the Co-founder of ACV Auctions. ACV Auctions is a leading wholesale automotive marketplace, which scaled to an IPO in 2021. Jack is also a prominent angel investor (with 200+ angel investments) and recently launched an early stage venture fund that's focused on investing in B2B marketplaces.
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0:06 Intro
‍1:19 Jack's background
‍2:55 Why B2B marketplaces are great businesses
‍5:32 The founding story & first steps for starting ACV Auctions
‍9:48 An overview of ACV Auctions as a leading wholesale automotive marketplace
‍14:15 Solving for the hard side of the marketplace with ACV Auctions
‍19:21 Some of the biggest challenges with ACV Auctions as a B2B marketplace
‍23:47 Key learnings that Jack has taken with him to now investing
‍27:50 How Jack is investing in B2B marketplaces as an angel & now venture investor
‍31:51 What Jack looks for in founders & marketplaces when investing in them
‍36:27 Group Q&A on high touch vs. low touch marketplaces
‍39:34 Group Q&A on how to encourage buyer & seller overlap
‍43:07 Group Q&A on experimentation with B2B marketplaces
‍47:09 Group Q&A on fundraising tips for founders at the earliest stages
‍49:52 Parting marketplace advice
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Jack on LinkedIn: https://www.linkedin.com/in/jacklgreco
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You can also find this group chat in audio format as an episode on our new 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.