A novel one-pot multi-step domino strategy for the synthesis of functionalized 2-substituted acetic acids, 2-substituted (1,2,5-triarylpyrrolo[3,2-c]pyridin-3-yl)acetates and 2-substituted-(1,2,5-triarylpyrrolo[3,2-c]pyridin-3-yl)-N-arylacetamides has been established from inexpensive and readily available starting materials. The reaction can be easily performed by employing different substrates via a one-pot multi-step domino reaction. The target products can be easily obtained with satisfactory yields by only simple recrystallization from a mixture of hot 95% ethanol and N,N-dimethylformamide. The reaction features of readily available starting materials, broad substrate scope, bond-forming efficiency, simple one-pot multi-step synthesis as well as green reaction media, make the procedure highly useful for the construction of potential pharmacological heterocyclic molecules.