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ACV AUCTION'S IPO PROVES UNICORNS CAN BE BORN IN BUFFALO

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.