OfferUp

Consumer & Lifestyle

Founded: 2011

Last Round Valuation: $1.54B

OfferUp is a renowned online marketplace that has rapidly gained popularity as a go-to platform for buying and selling a diverse array of goods. Established in 2011 by Nick Huzar and Arean van Veelen, OfferUp operates as a user-friendly mobile app and website that connects millions of users across the United States. The platform's unique proposition lies in its simplicity, facilitating local transactions and creating a sense of community among its users. With a focus on hassle-free buying and selling experiences, OfferUp has disrupted the traditional classifieds market and has become a trusted destination for individuals seeking great deals and quick sales. Through its seamless interface and commitment to security, OfferUp has successfully fostered an accessible and efficient marketplace, reshaping how people connect and trade goods within their local neighborhoods.

OfferUp Overview:

OfferUp is a prominent online marketplace that has rapidly grown into one of the most popular platforms for buying and selling a wide range of goods. Founded in 2011 by Nick Huzar and Arean van Veelen, the company has revolutionized the way people connect and transact within their local communities. Operating as a user-friendly mobile app and website, OfferUp caters to millions of users across the United States, facilitating seamless interactions between buyers and sellers.

The platform's appeal lies in its simplicity and ease of use. Buyers can explore a vast array of items available for sale in their local area, while sellers can list their products quickly and effortlessly. The emphasis on local transactions fosters a sense of community, allowing users to engage in face-to-face interactions, further enhancing trust and reliability.

OfferUp's commitment to providing hassle-free buying and selling experiences has set it apart from traditional classifieds platforms. The company has invested significantly in user experience, ensuring that the app is intuitive and straightforward for all users, regardless of their technological expertise. This dedication to convenience has earned OfferUp a dedicated and loyal user base.

Security is of utmost importance to OfferUp, and the company has implemented several features to safeguard its users during transactions. A robust rating and review system allows users to evaluate and vet potential buyers or sellers, while in-app messaging facilitates seamless communication. Additionally, the platform offers in-person meetup spots in public locations, providing users with a secure environment to conduct their transactions.

OfferUp's success and widespread adoption have disrupted the traditional classifieds market, transforming how people buy and sell secondhand items. Its seamless interface, focus on locality, and commitment to user safety have positioned OfferUp as a trusted and reliable marketplace, appealing to a wide range of consumers seeking great deals and quick, efficient sales. As the company continues to grow and innovate, OfferUp remains at the forefront of the peer-to-peer e-commerce landscape, redefining the way individuals connect and trade within their local neighborhoods.

Founders:

  • Arean Van Veelen

  • Nick Huzar

Top Investors:

  • Allen & Company

  • Alliance of Angels

  • Altimeter Capital Management

  • Andreessen Horowitz

  • Coatue Management

  • GGV Capital

  • Jackson Square Ventures

  • OLX

  • Sequoia Capital

  • Several Individual Investors

  • T. Rowe Price

  • The Gramercy Fund

  • Third Kind Venture Capital

  • Tiger Global Management

  • TriplePoint Venture Growth

  • Vy Capital

  • Warburg Pincus

Funding History:


Date Share Type Amount Raised Raised to Date Issue Price Post Money Valuation Key Investors
Mar 2020 Series D $151MM $374.7MM $6.70 $1.54B GGV Capital, TriplePoint Venture Growth, Andreessen Horowitz
Aug 2016 Series C-1 $130MM $223.7MM $6.70 $1.28B Warburg Pincus, GGV Capital, Andreessen Horowitz
Mar 2015 Series C $73.4MM $93.7MM $4.98 $815.25MM T. Rowe Price, Andreessen Horowitz, Jackson Square Ventures
Jul 2014 Series B $15.2MM $20.3MM $0.45 $67.1MM Andreessen Horowitz, The Gramercy Fund, Jackson Square Ventures
Jul 2013 Series A-1 $958.33K $958.33K $0.14 $15MM Sequoia Capital
Jul 2013 Series A-2 $121.44K $121.44K $0.02 $16MM Sequoia Capital
Jul 2013 Series A $4.02MM $4.02MM $0.14 $13.25MM Jackson Square Ventures, Alliance of Angels, Several Individual Investors

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