On the TechTO stage ×1
First seen on the TechTO stage in 2019. Every talk is searchable — ask the archive about Fabrice ↗
In their words
the day I'm the proudest of is the day my second company became profitable
I lived in New York on essentially $2 a day which basically meant I actually could only afford ramen noodle
VC's never said no because they want to keep the optionality of a yes
Around the web ×2
Quick answers
What does FJ Labs invest in?
Marketplaces and network-effect businesses, at any stage. Grinda described a process built to give founders a fast yes or no: a one-hour evaluation, a weekly investment call, and an answer either way.
What companies has he founded?
Aucland, a European auction marketplace, in 1998; Zingy, a mobile ringtone business he sold for $80M in 2004; and OLX in 2007, which became one of the world's largest classifieds sites.
What did he tell the TechTO audience?
That the day he is proudest of is not an exit but the day Zingy first turned a profit in August 2003 — after missing payroll 23 times and living on about $2 a day in New York to keep it alive.