$BABA · Grinda reveals early Alibaba investment thesis: marketplace dominance and Alipay monetization

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Generating Alpha Podcast

Episode 51: Fabrice Grinda - Founding Partner of FJ Labs

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Grinda reveals early Alibaba investment thesis: marketplace dominance and Alipay monetization

2026-04-01 · 1 company · 3 thematic

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fabrice grinda

Serial entrepreneur who built and sold multiple companies including OLX (300M users across 30+ countries), and prolific angel investor. Founded FJ Labs, which has backed over 1,100 startups including Alibaba, Coupang, Delivery Hero, and Rappi. Known for quantitative marketplace evaluation frameworks and rapid conviction-based investing.

quote

“turns out that Tiger had invested in the early days in '98 or '99 and their LPs were you know after 10 years or 12 years retired and so they organized a tender to sell their shares at whatever $4 a share thing was like 15 billion valuation…”

—fabrice grinda

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$BABA···bullish· high· posfabrice grinda

Grinda reveals early Alibaba investment thesis: marketplace dominance and Alipay monetization

Grinda invested in Alibaba around 2010 via a Tiger Global tender offer at roughly a $15B valuation because he knew Jack Ma, deeply understood marketplace dynamics from building OL…