Fabrice Grinda, co-founder of FJ Labs and one of the world’s most prolific marketplace investors, joins the Unicorn Bakery podcast again to share his marketplace outlook for 2025. With more than 1,100 investments and 355 exits, Fabrice is uniquely positioned to discuss the trends shaping the future of startups, marketplaces, and venture capital.

In this episode, he dives into the state of venture markets, the rise of B2B marketplaces, the impact of AI on startups, and why IPOs remain elusive for many companies.

Fabrice provides detailed insights into the hottest marketplace trends, which include B2B and B2C marketplaces with different verticals and USPs.

What you’ll learn:

Why the venture market is starting to recover in 2025 after years of stagnation.
How B2B marketplaces transform industries and why they’re still in their early stages.
The role of AI in improving marketplace efficiency and redefining business models.
Why IPOs remain challenging and what needs to change for companies to go public.
How founders can build defensibility and create network effects in their marketplaces.
Key 2025 trends include live commerce, cross-border marketplaces, and SMB digitization.