Behind the IPO: ACV Auctions & ASV w/ Somak Chattopadhyay & Vikas Mehta

This week we had not one but two esteemed guests - a funder and his founder of choice to talk through everything from building trust and partnership to getting to that IPO.

Featuring Somak Chattopadhyay, founder of Armory Square Ventures, and Vikas Mehta, COO of ACV Auctions. Their paths beautifully overlapped after their MIT days when Somak recognized ACV's potential in B2B automobile marketplaces and recruited Vikas to lead the operation.

The rest is history, but in today’s episode, we delve deep into how Somak identifies potential in companies like ACV and, alongside Vikas, continues to drive value and scale to today, one of the most exciting marketplaces that investors are closely watching on the NASDAQ.

TIMESTAMPS / KEY TAKEAWAYS

0:00 Intro

3:00 Where the paths crossed: Somak’s journey with Armory Square Ventures; and Vikas’s prior to ACV Auctions

7:55 Takeaway 1: How did Somak identified and surfaced ACV as a tech unicorn

11:34 Vikas saying yes to Somak’s pitch on ACV Auctions

15:31 Takeaway 2: Breaking down business model of ACV Auctions from digitalising to scaling; “it was basically to get a level of trust and transparency on the asset that was previously unimaginable,”

21:07 Takeaway 3: Bringing in mentor who guides and fits well with the team and hiring the best talent

25:10 Takeaway 4: Adding value versus overstepping your bounds as a VC

28:11 Takeaway 5: Navigating through pandemic and building infrastructure under hyper growth

30:57 Takeaway 6: “What else could we do to leapfrog everyone else“; building and maturing a system that fills the industry gap

36:24 Takeaway 7: Vikas’ reflection: be more risk taking and hiring key unlockers of acceleration at early stage

37:53 Takeaway 8: Somak’s reflection: every time frame is different and about false positives on people

39:49 Looking forward #1: the automotive industry in 2024

40:46 Looking forward #2: 2024 as the best vintage year?

42:41 Takeaway 9: Vikas to founders: "How the world is predicted to be is rarely how it ends up being"

43:49 Takeaway 10: Somak: "Don't rely on zoom and teams or whichever tool you have as a crush for everything" 

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