Nick Huzar (@nickhuzar) March 25, 2020. We had this concept of why cant we just emulate that online? March 20, 2020 Nick Huzar, CEO OfferUp 1745 114th Ave SE Bellevue, WA 98004 Dear Mr. Huzar: I write to express my concern about the prevalence of postings on third party platforms, such as yours, attempting to capitalize on the current public health crisis caused by novel coronavirus, or COVID-19. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? I wont list them all, but thats everything from simplified. I think that were going to really enjoy the guest that we have today. Respondents feel that it is easier to donate than sell, citing the required time investment and amount of work. So, another great learning lesson I had is, find partners and co-founders that are very different than you and can complement the areas youre not that strong in. So, thats the time in history when I graduated. There were thousands of them. What do you look for in culture? The Net worth of Nick Viall is still yet to be revealed. We were never going to beat and become something like a Facebook. Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. Id say as hard as it is, the people are everything. As of December 2022, total funding raised is $381 million. So, that was some of the initial sketches that we did. I was leading projects for Paramount Parks. Earlier in his Career Nick held positions at T-Mobile and Microsoft. That was the idea behind it. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. northern state university softball roster. We didnt see any examples of what we were doing in a smartphone. I remember when we launched it, one of the questions was, Are we now becoming like other online businesses wherewhy are we focusing on shipping? My response to that was, We are about removing friction. There are many times when you wont even get in your car to drive 30 minutes for an item. Our homes are actually 30% larger than the 1950s, but were having less children. Ive got to go get a job. Im out there interviewing for a job and spending a bunch of time on that, but I think like any good ideas, for entrepreneurs that are out there, I believe that if you cant get it out of your head, you should listen to that voice. Its become a part of peoples daily lives that use it on an ongoing basis throughout the country. As of February 2023, Nick Hanauer has an estimated net worth of more than $1.5 billion. What is in the retail store down the street, and why dont people know that those things exist in there. As a marketplace, OfferUp is not only positioned to help declutter your life, but it is also a monetization platform to convert unwanted items to extra cash. 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. Nicki Minaj Net Worth. She has made most of her net worth through her record sales as well as her music tours. I think for anybody thats building a company, it feels good when you fill that role, and then 90 days later, you realize you made a huge mistake. I think well continue to see a shift towards mobile, van Veelen said. The company has raised $380 million from top tier investors such as Andreessen Horowitz, GGV Capital, Tiger Global Management, Warburg Pincus, T. Rowe Price, and Allen & Company to name a few. We have lots of information about Nicholas: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is unknown. And, by the way, I never told the seller that I worked at OfferUp. Im happy to chat. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. : Yeah. She is a rapper, singer, and songwriter from Trinidad & Tobago. I designed the app. We raised a little bit of money. Thats equally as important. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. We do a lot within the product to connect buyers to the right sellers. Why is this problem existing? 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. How many employees do you guys have, Nick? While consumer commerce continues to evolve in specific areas, its rare to have a company completely redefine the marketplace experience from start to finish. I feel like I build things and sculpt things, and that works well for me. Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. : In our case, we happen to have two different buckets. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. It was to explore, like more of the treasure hunt type of experience. He has an estimated net worth of $15 million, which includes his luxurious home in Canberra, Australia. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. I had a wife that was working, and I had a daughter on the way. Will His AI Plans Be Any Different? Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. I think that also ties nicely into culture and the intention about that. But my wife and I moved into a good-sized house. Nick Huzar: Yeah, definitely. I go back to even reflecting on my own decisions. Alejandro: Very nice. What would you say really made him such an amazing tech co-founder? With over 33 million downloads and more than $14 billion in transactions, OfferUp is now the largest mobile marketplace in the U.S. He has founded many companies which are doing very well. So, we got very intentional about that. 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. At the time, I think we were the first app to do that. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. Zack Friedman is the founder of Make Lemonade, a personal finance platform that offers free and unbiased financial advice, including to the over 40 million borrowers looking to manage,repayand save money on their student loans. : There we go. 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. What are your core values at OfferUp? We had been married, and we always wanted to have kids. Thats been a big part of it. "We have been one of the most active investors in marketplace businesses around the world, and rarely have we seen the scale, liquidity, virality and growth that OfferUp has demonstrated in a market this big.". : I understand that you guys have raised quite a bit of money for the business, too. That helps them to sell things faster. I know that OfferUp was also a result of doing a pivot. How did venture capitalists view the investment opportunity? Bestselling Author, The Lemonade Life. In this case, it led you to where you are today. Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. What are your core values at OfferUp? In the early 2000s, Craigslist disrupted the classified advertising market by converting newspaper readers to online users and thereby decimating the print media advertising model. : When I left Konnect, I had no intention of leading another company. We had this concept of why cant we just emulate that online? And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. : There, you talked about, Arean, your co-founder, and you were mentioning that hes an amazing engineer, and Im sure that there are a lot of people that are listening now that are maybe looking for a tech co-founder. For years, Craigslist has been the go-to website to buy and sell used items online. Here, I think that you were alluding to it by hiring the wrong people, maybe not having the right people seated in the right seats. You went to Washington State University, and you got involved with business and computers. We expect people to dive deep into things like that. Prior to Konnects, Nick Huzar played a key role on the web team at T-Mobile for 3 years where he was pivotal in leading the development and integration of web applications. : While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. Like I said, in any small startup, thats got to be there. It was barely enough to eat and pay my rent. Nick Huzar: During my Konnects experience? If you can leave a review as well, that would be fantastic. Alejandro: Ive heard you talk about core values a few times and how that ties into culture. Will Others Follow? We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. We had been married, and we always wanted to have kids. Im sure this was an incredible MBA experience for you in real life. I used to go to Goodwill stores, and Id realized the cars never stopped. We hired. His main source of income is his career as an entrepreneur. So, we found a handful of people that were willing to actually do that at that time. Nick Huzar: In our case, we happen to have two different buckets. He has a small car collection also which . We only raised about $100,000 our first year, but we didnt have an office space. I cant exist without my computer. As I move from work or wherever Im at, I just want to be able to open up the app and see and discover things that are all around me. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? The shoes Im wearing are from OfferUp. 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. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. Well continue to obsess over liquidity. I had a wife that was working, and I had a daughter on the way. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. So, obviously, part of the startup experience too. We learned through that experience. I can work with engineers, and tie into databases, and be functional. If you want me to do your fundraising for you, click here. I had a father who worked at Boeing his whole life. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. He is a founder that has done it multiple times. Or, for BMX, we built their first-ever eCommerce website. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. Alejandro: There we go. I would design. I cant exist without my computer. : Marketplaces are obviously a beast. In the first year, I think the hard part was, I had convinced a brilliant engineer that I worked with and connected to co-found OfferUp with me. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. He and I would sit down and rift on things quite a bit. Now, in terms of the business itself, how big is the platform, or can you talk to us about the number of employees or users that are using this so that people get a sense of the operation? That was a lot of work. 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. : By the way, he would hate it if I called him an engineer because he is definitely more than that. I left, and I had a co-founder and an investor that ran it for another year. We raised a little bit of money. I think Ive even learned that mistake early on at Konnects, but I think at OfferUp, we definitely made mistakes there too. Youve probably thought about this very well at the beginning, and now as youre looking at pushing other markets, how do you guys think about liquidity in the marketplace? Other OfferUp investors include Coatue Management, Tiger Global, T. Rowe Price, Allen & Company, High Line Venture Partners, GGV Capital, Third Kind Capital, Altimeter Capital and Vy Capital, among others. : Definitely, you learned the sleeping on an air mattress and living in the office. Nick Huzar is the co-founder and CEO of Offerup which provides an online and mobile C2C marketplace app for people to buy and sell electronics, furniture, and cars. He was definitely that. I would design. : When I was in college, I was pretty fortunate that I lived in a fraternity, and the majority of the people living there were getting MIS degrees, which is Management Information Systems, basically a business major with an influence in computer science. 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.. I think I learned a lot of painful learning lessons from doing that. meritain health timely filing limit 2020; larry davis obituary 2020; sharon perkins instagram; dave ramsey jobs remote; nick huzar net worth 2020 . : Currently, we have about 280, and we are actively hiring at the moment. It wasnt to be great in search like other marketplaces are. This is going to take me a whole weekend just to post these items online yourself. Theres got to be a better way. I had a room full of stuff. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. People were throwing money everywhere. In fact, the first code that I ever wrote for OfferUp was sitting in a Goodwill parking lot all day, and I was just sitting there starting to code, starting to think about and mapping out how Goodwill works or how Value Village works or how the existing eCommerce players work. We came up with those three because we looked around the company at the time. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. We started very early, way before Friendster, way before Myspace. So, you get the green light, and what happened next? Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. 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 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. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. I think I was making $27,000 a year back then. Nick Huzar: Yeah. We said, Who are the people that are striving here, and why? You look at driven, for example. The boss, obviously, in your life. I think were probably one of the top places in the country in terms of units. This is going to take me a whole weekend just to post these items online yourself. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has partnered in, Total number of current Jobs the person has, Total number of events the individual appeared in, Number of news articles that reference the Person, Founder, President & Chief Product Officer and CEO. : Very nice. In fact, in the early days, before we had a lot of traction, I used to show up to peoples houses, and I would buy their items, and I would stick them in our very small office that we had. I dont think we even had core values or anything. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. peggy gustafson barnett obituary; human causes of the millennium drought; robert hagg scouting report; competitive edge softball In fact, in the early days, before we had a lot of traction, I used to show up to peoples houses, and I would buy their items, and I would stick them in our very small office that we had. If youre not intentional, culture is just going to take the form that its going to take for better or worse. We came up with those three because we looked around the company at the time. We were finding that theyre able to sell cars way faster by signing up for this program. Alejandro: Very nice. That would have just ended it for me. Now, in terms of the business itself, how big is the platform, or can you talk to us about the number of employees or users that are using this so that people get a sense of the operation? Most recently, Nick Huzar was the co-founded of Konnects Inc. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. Within a year, year and a half, I was loving the internet. Why is this problem existing? It was great. But, luckily, she was supportive, and I think shes always believed in me. Then, adaptable. This is just the consumer side of things, but I also started to spend time in local retail stores. : Got it. We made a series of pivots. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. 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