Hello Friend,
It turns out 2015 was a standout year for the OEN Entrepreneurship Awards. That was the first year both Asbci and Vacasa appeared on the OEN Awards stage, Absci recognized as Gamechanger and Eric Breon, founder of Vacasa, celebrated for Entrepreneurial Achievement. Both were also recognized again, Absci in 2017 as the winner of the Launch/Startup Stage award, and Vacasa in 2018 as winner of the Growth Stage.
Both companies have announced incredible news recently! Absci held an initial public offering on Nasdaq on July 22, and now trades under the symbol ABSI with a market cap of $2.74B. The very next week Vacasa announced that rather than a traditional IPO, the company will merge with a SPAC and trade under the symbol VCSA with a valuation of $4.5B when the deal closes this fall.
All this news has me thinking about the virtuous cycle of investment in local early-stage entrepreneurs in which the OEN Awards play a key role. Someone in the entrepreneurial community (likely someone who reads this newsletter!) nominated Absci and Vacasa for OEN Awards in 2015 because they saw something special in the founders and potential in the companies. The recognition helped manifest that potential - raising their public profile, generating awareness, opening doors, building momentum. Now the jobs and wealth created for their teams opens up the possibility for reinvestment in the next generation of founders.
Who will we celebrate together at the OEN Awards 2021? Who has the potential to be the next shining star in Oregon's entrepreneurial economy six years from now? Give it some thought, and then make those nominations - you have until August 13th. In the meantime, hearty congratulations to everyone at Absci and Vacasa, we're all cheering your success!
Cheers,
Amanda
PS: Find all this year's OEN Awards details here: https://www.oen.org/awards21/.
Amanda Oborne (she/hers), Executive Director
Oregon Entrepreneurs Network | www.oen.org
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