Matt Cohen welcomes Niklas Halusa, Co-Founder and CEO of Nautical Commerce, to explain how his company makes starting and running marketplaces easier. Niklas shares lessons from his venture capital experience, how to choose the right customers, and why marketplaces succeed or fail. He also talks about fundraising, managing growth, and what startup founders can learn from Formula 1 racing.

About Niklas Halusa:

Niklas Halusa is the Co-Founder and CEO of Nautical Commerce, where he has led the company since September 2023 after serving as its President for over three years. At Nautical, he focuses on simplifying marketplace creation and advancing digital commerce solutions.

Before starting Nautical Commerce, Niklas worked on the investment team at Activant Capital, a firm specializing in commerce and technology-focused growth-stage businesses. Prior to Activant, Niklas held leadership roles at Turvo Inc., a supply chain collaboration platform which was acquired by Lineage Logistics for over $200 million. Earlier in his career, he worked in investment banking at Bank of America Merrill Lynch and at eToro.

Niklas earned a Bachelor’s degree in Economics from Harvard University.

Topics:

(01:15) Niklas shares his upbringing across Europe, his time in the U.S., and how his international background shaped his career

(02:17) Niklas discusses his early work at Activant Capital, how he stumbled into venture capital, and what drew him to marketplace technology

(05:56) The challenges and inefficiencies in marketplace infrastructure that inspired the creation of Nautical Commerce

(08:00) Why startups should focus on their ideal customer profiles (ICP), how the wrong customers can harm growth, and why it’s crucial to say no

(11:45) Niklas explains how marketplaces evolve, why there’s still room for new entrants, and how niche players can disrupt legacy platforms like Amazon

(18:06) The experience of raising $30 million during the COVID-fueled e-commerce boom, and the importance of finding investors who align with your vision

(25:00) Creative ways marketplaces can make money, such as seller subscriptions, logistics services, and data-driven value-adds beyond basic commissions

(30:00) How marketplaces can use search data and customer insights to increase sales, attract more buyers, and better serve sellers

(33:00) Strategies for reducing churn and building long-term trust in marketplaces by focusing on supplier quality and buyer-seller stickiness

(37:00) Lessons from Formula 1: the value of focusing on one problem at a time, resource prioritization, and how it applies to running startups

(41:00) Advice for founders: Test your idea while keeping your day job to gain conviction before fully committing to entrepreneurship

Fast Favorites:

* Favorite Podcast: How I Built This and F1 Beyond the Grid

* Favorite Newsletter or Blog: Stratechery

* Favorite Tech Gadget: Eight Sleep Pod,

* Favorite New Trend: Antitrust movements, particularly those supporting small businesses

* Favorite Book: Children of Time by Adrian Tchaikovsky

* Favorite Life Lesson: “Success is going from failure to failure with no loss of enthusiasm.”

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