How was life growing up there? In our case, we happen to have three to make it easy. But, luckily, she was supportive, and I think shes always believed in me. To date, OfferUp is the largest mobile market place in the United States, where people are using our app to buy and sell anything from cars to shoes to furniture. : What I love about building companies. We were not paying ourselves. So, when we built out shipping, we said, Why not just enable this so you can continue to do local transactions, but now you dont even need to get in your car. And it opens up the nation for buyers and sellers. OfferUp has raised over $221 million from some of the smartest minds in technology and finance, including one of its most recent investors, Max Levchin, co-founder of PayPal and co-founder and chief executive officer of Affirm. I think thats a big part early on. : Id say definitely the people. If youre not intentional, culture is just going to take the form that its going to take for better or worse. What would you say really made him such an amazing tech co-founder? Bloomberg Business of Sports lets you follow the money in the world of sports, reporting on trades, salaries, endorsements, contracts and collective bargaining. Alejandro: Alrighty. We were not paying ourselves. The other one is payments. Here are some pointers from OfferUp co-founder Arean van Veelen to maximize your profit: Who knows OfferUp may even buy one of your items for sale. We have really good features like search alerts and things you can say that will notify people right away. I just wanted them to believe it actually worked. What do you think? I said, Hey. Alejandro: Ive heard you talk about core values a few times and how that ties into culture. I have a trampoline that I purchased. Product. I need to understand how these things work. So, I finally bought one, and then I graduated and worked in a startup for one of my fraternity brothers, making half as much as all my friends did. Again, because were always focusing on removing friction. I played every different sport you can imagine, so that meant I wasnt great in any one thing. He figured that out on his own. He is a founder that has done it multiple times. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. Thats a nice, easy way to get ahold of me. Weve always focused a lot on this excess of sellers and buyers and connecting them. The second promotional area is our auto business. We started very early, way before Friendster, way before Myspace. How many employees do you guys have, Nick? Nick Huzar: I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. How do you guys make money for the people that are listening? : Very nice. They created OfferUp to create a simpler and more trusted way to buy and sell locally one in which users leverage the power and ease of their smart phone to take photos and then list and sell items in a more seamless way. Also, I spent a lot of my time in a private art class most of my life, which again, as we talked about, building up companies, and I think theres a lot of creativity involved in that, so thats been part of who I am. You can literally use it for almost anything. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. My parents threw me into a bunch of things as a kid. That would have just ended it for me. Amazing. : I think businesses are about people, so when I think about it and when I think about the investors and the team. The first thing in my mind was not, Hey, theres something here. We had been married, and we always wanted to have kids. I really just wanted to understand the landscape, but then, with a clean slate, a brand-new slate, how can you do it differently because of the smartphone? Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. Again, were only in the United States. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. Is that right? It wasnt to be great in search like other marketplaces are. Even though we have these amazing giant tech companies, we still think theres a huge opportunity in local, and thats going to be our focus and continue to be our focus. I had a mother who was a therapist, so I like to think Im a pretty good mix of both of my parents, which happens to, I think, be an advantage given what I work on. Europe, Menlo Park, China), Where the person is located (e.g. He only had one job. To achieve this, they need to continue growing consumer awareness, increase seller liquidity (percentage of items that sell), and continue to emphasize ease of use and trust for all users.. Nick Huzar facilitated the design and implementation of a completely new website as the company transitioned from Voicestream to T-Mobile. I think that were going to really enjoy the guest that we have today. Nick Huzar: Id say definitely the people. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Thats the focus on why we want shipping was not necessarily to build a new line of revenue for us, but again, to further remove friction in the process. Thats been the whole focal point of the business since Day One. A few other stats that I think might be interesting about our OfferUp community and usage is, especially with this transaction coming together, well have 20 million users across the U.S. We also have a lot of our top markets where we started to see double-digit growth. I think I was making $27,000 a year back then. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. To date, OfferUp is the largest mobile market place in the United States, where people are using our app to buy and sell anything from cars to shoes to furniture. I essentially told them, Look. Huzar wanted to change that, so the company partnered with the non-partisan Civic Alliance to offer voting information to all OfferUp employees and, via a link in its app, to millions of customers . It was extremely expensive back then. How will you associate putting paint on a canvas with perhaps building and scaling a business? I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Well, Nick, thank you so much for being on the, If you like the show, make sure that you hit that subscribe button. He and I would sit down and rift on things quite a bit. He and I would sit down and rift on things quite a bit. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. Nick Viall is an actor, model, and television personality who is known for his starring role in the 21st season of ABC's The Bachelor. Nick Huzar: It was great. Net Worth: $250,000 - $499,999. New OfferUp CEO Aims To Grow Commercial Side Of Local Commerce Platform, COVID Creates A Sellers Market In reCommerce, OfferUp CEO: Reinventing Commerce One Local Seller At A Time, Online marketplace OfferUp raises $120M, acquires top competitor letgo, Mobile marketplace OfferUp adds Hold Offers feature as it battles Craigslist, eBay and Facebook, OfferUp launches new Autos section focused on buying and selling used cars, OfferUp Keys In On Used Car Market With the Launch of OfferUp Autos, OfferUp launches SafeTradeSpots.com in conjunction with AIM Group, OfferUp Expands Its Local Marketplace, Launches Nationwide Shipping. As of March 2023, Nicki Minaj's net worth being estimated at $100 Million. Dont cut corners on that. His main source of income is his career as an entrepreneur. We raised millions of dollars, mostly from angels. Id say as hard as it is, the people are everything. This is so creative. I think it was good. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. That was the whole idea. If you can leave a review as well, that would be fantastic. I kept thinking about that moment in the doorway, and I kept looking at my iPhone, which is the second-gen iPhone, and at this time, theres no Android phone even on the scene. Nick Eh 30 is a Canadian YouTube gamer and a live-streamer who . Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. I came back to my wife after probably four-and-a-half months, at least, and she kept asking, When are you getting your job? One day, I said, You need to come home tomorrow. It was to explore, like more of the treasure hunt type of experience. He has appeared in shows as well as advised some companies. I look forward to it. We had a lot of great. He coded our first Android app in the summer, all by himself. I came up with a logo. And, by the way, I never told the seller that I worked at OfferUp. I came back to my wife after probably four-and-a-half months, at least, and she kept asking, When are you getting your job? One day, I said, You need to come home tomorrow. Again, because were always focusing on removing friction. We could leverage chat. We raised millions of dollars, mostly from angels. The other half is how did you do the work. . Unsure about a selling price? She is a rapper, singer, and songwriter from Trinidad & Tobago. I analyzed every way, everybody. I'm Nick Huzar, the cofounder of OfferUp, the largest local mobile marketplace in the U.S. On a monthly basis, I would watch billions of dollars worth of second hand goods exchange hands through the marketplace we started over a decade ago in 2011. But Id say the first year working there, there were about 25 people in that company. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. Take photos of your item from all angles so that buyers can get a feel for the size and dimensions of the item you are selling. Thats what we did for a while. The second promotional area is our auto business. I was just a sponge. Together, they oversee over 100 OfferUp employees. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. Sure, there are plenty of challenges. According to a 2016 OfferUp and ClearVoice survey, OfferUp found that 48% of respondents consider their home to be cluttered with items they do not use, and 62% own more than 10 items they have not used in the past year. There are plenty of things that you just dont sign up for that you have to address as somebody thats running a business, but I think of companies as the ultimate creative experience. Alejandro: Got it. It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. When you first open up the OfferUp app, there are a lot of different things that we are doing and surfacing to buyers on the platform because were trying to find things that we think people are really interested in.
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