With a focus on business productivity and e-commerce, Fabrice Grinda has founded and invested in companies on several different continents. He cofounded OLX, Inc. with his business partner Alec Oxenford in 2006, which quickly grew to be one of the world’s largest free local classified sites.
Prior to OLX, Grinda founded and served as CEO of Zingy, Inc., which became one of the largest wireless media companies in the country. He eventually sold the business in 2004 for $80 million.
Earning his degree in Economics from Princeton in 1996, Grinda graduated Summa Cum Laude while cleaning up during the awards ceremony, winning the Halbert White prize for most distinguished economics student and The Wolfe Balleisen Memorial prize for best thesis.
Grinda has since gone on to become a investor, lending a helping hand to numerous growing companies. His current portfolio includes Assured Labor, WeHostel and Documenthosing.com.
E-Commerce, Online Advertising, Business Productivity, Consumer Internet and Crowdsourcing.
DoubleDutch, Merchant Atlas, Assured Labor, WeHostel, Fnbox
Economics, Travel, E-commerce
Blogs, Twitter & Websites:
On founding his small business: “I realized there was a price arbitrage and a time arbitrage where things were being released in the US much earlier and at much lower prices than in Europe. So, because he lived across the street from my grandmothers in Nice, there was a great computer store, which happens to be the biggest computer store in Nice. Speaking French to the owner, I came here and started selling to him. And to a few of my other friends, because the computer geeks. I started selling to them, too, and that built a small business.”
On facing down adversity: “I think all entrepreneurs need to have a reality distortion field. Because if you can’t convince people that you are going to change the odds, you’re not going to succeed.”
On founding international companies: “Things that work in one country, typically work in another. That’s true of the idea as a whole, it doesn’t mean the execution of the idea is identical.”