ACV Auction had an Initial Public Offering of its stock on the NASDAQ exchange on Wednesday, March 23, 2021. The initial pricing of the offering was actually 25% higher than the price range set the day before due to a huge demand. At the end of the first day of trading the full capitalization value of ACV was almost $4billion Dollars, making it Buffalo's first high tech "unicorn"! As one of the founders of LaunchNY and the Buffalo Angel Investors, I could not be more proud of this home town accomplishment. It proves if you create a welcoming environment and provide ways to access sorely needed capital you can grow and develop a high tech ecosystem in a City like Buffalo, New York.
These IPOs create virtuous cycles,” said David Colligan, a Buffalo attorney and one of the leaders of a group of local investors, called the Buffalo Angels, that invest in startups.