Bangalore, 15 November 2022: Global venture capital firm, Accel, has launched ‘Decoding Marketplaces’, a digital repository of experiences in backing successful marketplaces. The initiative is designed to help entrepreneurs identify the building blocks of successful marketplaces and gain experience from their peer group.
Accel sees a significant opportunity around marketplaces in India. In the past decade, Accel has supported many marketplace startups and their founders from seed to scale, including Bizongo, Flipkart, Swiggy, Urban Company, and Network. Each startup has reimagined ‘the bazaar’, thus shaping the future of commerce and livelihood in India. Accel has worked closely with ~200 firms and has powered 25+ marketplaces on their journeys from seed to scale with an investment of nearly USD 700 million.
‘Decoding Marketplaces’ comprises content curated by Accel partners in collaboration with founders of some of the most significant marketplaces in the country. Indicative learnings from ‘Decoding Marketplaces’ include identifying test beds, onboarding the best suppliers and retaining them on the platforms, hiring a risk team in a B2B marketplace, and dealing with large competitors, thus giving upcoming entrepreneurs tactical and strategic learning.
‘Decoding Marketplaces’ will also provide a platform for emerging founders to network with successful marketplaces founders. The Decoding Marketplaces Startup Hunt invites early-stage entrepreneurs who have raised Anand Daniel, Partner at Accel, said, “Around 30% of the medium to large companies in India are marketplaces, a third of this pie is in Accel’s portfolio. We believe there is a significant opportunity for marketplaces in India, and this pie will continue to grow. Keeping this opportunity in mind and Accel’s knowledge and learning in this space, we have created this go-to place to serve as a resource repository. Decoding Marketplaces will demystify marketplaces’ basics, share learnings and success stories with to-be / young founders and give access to investors and industry events.”
Daniel said Accel wants to make ‘Decoding Marketplaces’ the #1 destination (India & Southeast Asia focused) for marketplaces that would benefit emerging entrepreneurs, startups, and the community.