How is your office laid out? As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. You went to Washington State University, and you got involved with. I strongly believe OfferUp will surpass Craigslist and all other competitors as the go-to marketplace for the American consumer to buy and sell locally, said Josh Breinlinger, an OfferUp board member and managing director at Jackson Square Ventures, which led OfferUps Series A financing round. And, by the way, I never told the seller that I worked at OfferUp. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. As new fathers, they needed to sell their old belongings to make room for their newborns, but felt limited by the existing online options. If you want me to do your fundraising for you, click here. Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 1 Europe, Menlo Park, China), Where the person is located (e.g. So, we found a handful of people that were willing to actually do that at that time. 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. 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. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. Nick Huzar Greater Seattle Area 2K followers 500+ connections Join to follow Articles by Nick Accomplishing One Of My 2021 Goals and Reflections As An Entrepreneur By Nick Huzar Jan 2, 2022. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. He and I would sit down and rift on things quite a bit. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. Despite these statistics, 68% plan to donate their unneeded items, and more than one in eight people planned to throw them in the trash. Thats something I definitely advise people to not do just given how much I learned through that. One is core values, and the other is operating principles. It was Driven, Neighborly, and Adaptable. Thats interesting. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. Nick Huzar oversaw the hiring of personnel, growing the team from 2 to 26 people. Your email address is 100% safe from spam! Alejandro: So, you got the blessing from the boss-in-house. Nick Huzar: You can always reach out to me on Twitter. We were finding that theyre able to sell cars way faster by signing up for this program. It was barely enough to eat and pay my rent. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. Alejandro: I understand that you guys have raised quite a bit of money for the business, too. I think I knew, right out of the gate, what I wanted to do with my life, which was something involved with the internet. How do you hire? Within a year, year and a half, I was loving the internet. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. Ask Jeff Jordan, a general partner at Andreessen Horowitz (an OfferUp investor), the former president of PayPal and the former president and chief executive officer of OpenTable. That was the whole idea. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. It was extremely expensive back then. What are your core values at OfferUp? Net Worth, Salary, House. : I had, of course, a ton of energy and excitement. I played every different sport you can imagine, so that meant I wasnt great in any one thing. I need to have it. If you can leave a review as well, that would be fantastic. We said, Who are the people that are striving here, and why? You look at driven, for example. Founded in 1995 by Craig Newmark, Craigslist is the local classified advertisements website that generates over 50 billion page views per month all without an iOS or Android app. They have too many, and theyre just on a wall, and no one really thinks about them. 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. He did a lot of back-end database. How much is Nick Kyrgios' Net Worth in 2022? Product. Will His AI Plans Be Any Different? I think Ive even learned that mistake early on at Konnects, but I think at OfferUp, we definitely made mistakes there too. 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. Between he and I, we were able to build the first website, the first mobile app. I told her; I said, Look. In the last years, as we got more intentional about this, we say, Okay, every review cycle, half of your review is the overall performance in getting the work done. 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. We hired too quickly and didnt have a focused strategy, and we werent intentional about culture, and we can talk about how that has changed now at OfferUp, but thats another thing. The founder and co-founder, Nick Huzar and Arean van Veelen do not plan to stop here. Like I said, in any small startup, thats got to be there. : What ended up being the business model of the business? Dont cut corners on that. I started to buy and sell things locally. 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. The shoes Im wearing are from OfferUp. It was more, Can you do the work? Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. Id say as hard as it is, the people are everything. OfferUp also found that 46% of respondents find it difficult to meet their household expenses on time each month, and 50% have more than $1,000 in credit card debt. In our case, we happen to have three to make it easy. Weve always focused a lot on this excess of sellers and buyers and connecting them. 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. My parents threw me into a bunch of things as a kid. Nick Huzar Email Address Found 5 email address listings: @dealspringer.com @offerup.com @konnects.com @gmail.com @offerupnow.com Nick Huzar Phone Number Found 6 phone numbers: 206-356-XXXX 253-356-XXXX 804519XXXX 210538XXXX 425-291-XXXX +1 more View Nick's Email & Phone (It's Free) 5 free lookups per month. Well continue to obsess over liquidity. VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Meta Cuts the Price of Its Quest Headset Up to 33% After Disappointing Demand, John Malone andCharter Directors Agree to $87.5 Million Settlement, Apples Cloud Chief to Leave, Adding to Wave of Departures, Anti-ESG Crusader Wants to Take Trumps Agenda to Next Level, Turkeys Erdogan Criticizes Rivals Over Candidate Squabbles, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. Theres a handful of operating principles that we use, and then for people that are on the interview loop, we ask them to ask some questions to probe for those, and we also bring those principles into our performance reviews. Nick Lachey is an American singer, actor, songwriter, television personality, and host who has a net worth of $25 million. The other one is payments. We said, Who are the people that are striving here, and why? You look at driven, for example. 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. He is becoming more successful day by day and will soon surpass his current net worth. It wasnt to be great in search like other marketplaces are. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. They have too many, and theyre just on a wall, and no one really thinks about them. You add all these things up, and I kept thinking to myself, I think while there are existing solutions for this problem, I dont think theyre meeting the needs of people, clearly. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. I dont think we even had core values or anything. I used to go to Goodwill stores, and Id realized the cars never stopped. : Marketplaces are obviously a beast. Little did we know social media was coming. "2020 was a pivotal year for OfferUp," said Nick Huzar, OfferUp co-founder and current CEO."OfferUp was a critical lifeline to millions of . 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. We came up with those three because we looked around the company at the time. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. The first year, thats what we did. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. He has founded many companies which are doing very well. We could leverage chat. Youve got a job. Thats probably one of my biggest painful lessons from back then. 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. I told her; I said, Look. So, we got very intentional about that. That was the idea behind it. Then he got the idea for. It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. She has made most of her net worth through her record sales as well as her music tours. You have a lot more exposure across the country. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. Also. Its not just up and to the right. : It was great. My wife is also my boss. This is just the consumer side of things, but I also started to spend time in local retail stores. : Yeah. We sell a ton of cars at OfferUp. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. Its not necessarily just aboutyoull find the most talented people you can, but you want to make sure theyre also rowing the same direction for the rest of the company. In fact, this chair Im sitting inin my office is from OfferUp. That would have just ended it for me. I cant exist without my computer. We sell a ton of cars at OfferUp. Probably just not the best advisors and folks around the table. On the promotions bucket, we have what we call 1P ads, and thats simply going into the product, and the seller can decide to increase their visibility and pay either one time or a subscription to dramatically increase the visibility of their listings.
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