Will Others Follow? I think thats another learning lesson Ive seen over the years where you have people that have these ideas, and they say, Im going to go do this. My response is, Okay. 'America needs our help': Q&A with OfferUp CEO Nick Huzar after Seattle-area startup lands $120M by Taylor Soper on March 25, 2020 With many physical stores closed and online retailers facing. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. You have a lot more exposure across the country. Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. 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. Nick Huzar oversaw the hiring of personnel, growing the team from 2 to 26 people. I think I knew, right out of the gate, what I wanted to do with my life, which was something involved with the internet. I would design. Nick Huzar: Yeah, definitely. The Investment Thesis: A Venture Capitalist Perspective. We made a series of pivots. As of March 2023,Nicki Minaj has an estimated net worth of over $100 million. Alejandro: So, originally born and raised in the Seattle area. Or, diving deep. CEO, Mentor (mentormoney.com). 2022.7.1; prince of wales hospital hong kong address; Tweet; Share +1; Hatena; RSS . Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. 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. The founder and co-founder, Nick Huzar and Arean van Veelen do not plan to stop here. I think that were going to really enjoy the guest that we have today. We were finding that theyre able to sell cars way faster by signing up for this program. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. She has made most of her net worth through her record sales as well as her music tours. If you had the opportunity to go back in time, knowing what you know now, and give your younger self one piece of business advice before launching a company, what would that be and why knowing what you know now? What are you going to go do? Im going to go hire people to build all this for me. My response is usually, Thats probably not going to work. If you just had the idea, you need to bring more to the table. So, I think its a founders job to be intentional about the type of culture that theyre going to build as a company and bring that into everything they do from promotions to recruiting. I had a blessed upbringing. : Definitely, you learned the sleeping on an air mattress and living in the office. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Pres/Chief Product Ofcr/Co-Founder, OfferUp Inc. It was barely enough to eat and pay my rent. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Nick Huzar: When I left Konnect, I had no intention of leading another company. We thought to ourselves, why couldnt you just build a platform that would enable anybody to build basically what is now known as social media? Is that right? I mentioned the stories of our origin; I still feel like were very much in the early days. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. Successful minimalist websites are a rarity, but Drudge Report (which generates more than 750 million page views per month) and Craigslist are two that have bucked the trend. Thats been a big part of it. Divided Government And The Way Forward For The Markets, How Negativity Bias Leads To Mistakes In Portfolios, Transforming The Wealth Management Experience For Todays Client, MoneyStamps Of South America - As Investments, Theyre Different Part 1, Covid-19 Related Municipal Defaults Begin, The Dynamics Of Price Discovery In The Stamp Market. It was extremely expensive back then. Neighborly: we have a no asshole policy. Again, were only in the United States. Alejandro: For sure, and especially during the early days when you dont have anything tangible, its like literally all in your own head, and its helping people understand what that canvas looks like. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. We raised millions of dollars, mostly from angels. 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. If you had the opportunity to go back in time, knowing what you know now, and give your younger self one piece of business advice before launching a company, what would that be and why knowing what you know now? Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. And if you got any value either from this episode or from the show itself, share it with a friend. Thats probably the biggest one. We thought to ourselves, why couldnt you just build a platform that would enable anybody to build basically what is now known as social media? Alejandro: Very nice. It was to explore, like more of the treasure hunt type of experience. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. I knew I was passionate about computers. Nick Huzar: Yeah. nick huzar net worth 2020 I think I knew, right out of the gate, what I wanted to do with my life, which was something involved with the internet. There are so many things that you can influence and help drive. You may opt-out by. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. We could make it a visual experience, this kind of geo-aware. That was the idea behind it. northern state university softball roster. : Very nice. This is going to take me a whole weekend just to post these items online yourself. Tell us about the early days, and also how you incubated the concept of the idea. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. 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. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. Its not engineering for the sake of engineering. I knew I was passionate about computers. Nick Huzar: In our case, we happen to have two different buckets. This has led me to seek answers to questions about how my very existence impacts our planet. And, by the way, I never told the seller that I worked at OfferUp. I think thats a great idea. He and I threw in $800 the first event. You can literally use it for almost anything. 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. : There we go. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. I think an important lesson for people that are building businesses: have an amazing significant other thats understanding because had she said no, we wouldnt be talking right now. 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? Its not just up and to the right. My wife is also my boss. Respondents feel that it is easier to donate than sell, citing the required time investment and amount of work. Ive been interviewing, but I also have this idea I want to run by you. The pitch, to be clear, had nothing to do with used goods, and it still doesnt to this day. Im thinking to myself, Chill me now. We could leverage chat. I analyzed every way, everybody. : 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. Nick Huzar (@nickhuzar) March 25, 2020. I am excited to work with Nick, Arean and the team there to continue to usher in the era of mobile-driven local commerce.. I came up with a logo. I was fortunate to sit next to engineers who taught me how to code. There are two areas in which OfferUp generates revenue. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. Or, for BMX, we built their first-ever eCommerce website. Nick Huzar: Id say definitely the people. 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. The fast-forward, over the next year or so, we had done 30 of these. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. Buyers can then message sellers to meet, and then pay for items through the app or in person. Bloomberg Business of Sports lets you follow the money in the world of sports, reporting on trades, salaries, endorsements, contracts and collective bargaining. What an amazing business that youve built with OfferUp. I feel like I build things and sculpt things, and that works well for me. He set that up. How many employees do you guys have, Nick? He definitely did that, and I feel like I did that. Those are our overall what we look for in people before they even come into the halls of OfferUp. I grew up in a suburb about 20 minutes south of Seattle. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. Nick Lachey is an American singer, actor, songwriter, television personality, and host who has a net worth of $25 million. Unsure about a selling price? 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. Alejandro: Very cool. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. This documentary-style series follows investigative journalists as they uncover the truth. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. Alejandro: And this led you in your 20s to your first company. It was to explore, like more of the treasure hunt type of experience. Okay, great. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) It was extremely expensive back then. Well, Nick, thank you so much for being on the DealMakers show. 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. Alejandro: There we go. University of Seville Alumni Founded Companies, College of Charleston Alumni Founded Companies, West Coast Companies With Less Than $10M in Revenue (Top 10K), University of Texas Alumni Founded Companies, University of North Florida Alumni Founded Companies, Chapman University Alumni Founded Companies, Colorado State University Alumni Founded Companies, University of Limerick Alumni Founded Companies, University of Notre Dame Mendoza College of Business Alumni Founded Companies, Florida Institute of Technology Alumni Founded Companies, Total number of current Advisors and Board roles the person has, Number of Organizations that the person founded, The organization associated to the person's primary job, Where the person is located (e.g. Nick Huzar: I think businesses are about people, so when I think about it and when I think about the investors and the team. We would find that handful of engineers, and we would pay them. He understands engineering is just enabling an outcome. 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. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. 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. : Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? : I had, of course, a ton of energy and excitement. Well continue to obsess over liquidity. 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. . Thats been the whole focal point of the business since Day One. Like I said, its been a lot of work, and as you mentioned, I was sleeping on an air mattress, which is not that comfortable. I can work with engineers, and tie into databases, and be functional. From the tough moments, from the tough experiences is where we learn the most. Nick Saban is the highest-paid college football coach in the world, and his salary matches his reputation . Or, for BMX, we built their first-ever eCommerce website. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. I had a wife that was working, and I had a daughter on the way. I could design all the apps, but Im not a great back-end engineer at all. 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. We raised a little bit of money. He set that up. Nick Huzar is CEO and Co-Founder of OfferUp. Some users use OfferUp to help grow their small businesses. The first year, thats what we did. See How I Can Help You With Your Fundraising Efforts. She is a rapper, singer, and songwriter from Trinidad & Tobago. I just wanted them to believe it actually worked. They have too many, and theyre just on a wall, and no one really thinks about them. I was leading projects for Paramount Parks. Alejandro: Got it. Those are our overall what we look for in people before they even come into the halls of OfferUp. : Then, after this, you ended up leaving, and then the company ended up closing down. 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. Thats what we did for a while. We didnt see any examples of what we were doing in a smartphone. Again, because were always focusing on removing friction. Nick Hanauer Net Worth. : Got it. Nicki Minaj Net Worth. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. florence nightingale concept 2 via de boleto Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. We made a series of pivots. Jonas formed a band with his older brothers, Joe, and Kevin, known as the Jonas Brothers. Amazing. 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. Van Veelen. Nick Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. That would have just ended it for me. Nick Huzar: Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? I feel like if you get those things rightsure, there are plenty of other challenges, but theyre going to be a lot easier to navigate if you have the right people on the bus. Im sure this was an incredible MBA experience for you in real life. So, obviously, part of the startup experience too. I need to have it. So, we built the first online ticketing for them. Nick Huzar: 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. Why? peggy gustafson barnett obituary; human causes of the millennium drought; robert hagg scouting report; competitive edge softball With its headquarters in Bellevue, Washington, OfferUp enables users to buy and sell everything from furniture and electronics to cars and boats through its free mobile app. That helps them to sell things faster. Alejandro: So, you got the blessing from the boss-in-house. Thats equally as important. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at, EP 199 Nick Huzar On Raising $380M To Build A Marketplace App That Is Used By 44 Million People, Bill Powers On Raising $500 Million To Improve Your Driving Behavior, Cap Table: Everything Entrepreneurs Need To Know, He Cofounded A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, Sacha Michaud On Cofounding A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, His Previous Business Is Worth $1 Billion And Now Raised $54 Million To Create A Cloud-Native Database Service, Nikita Shamgunov On Building A $1 Billion Business And Now Raising $54 Million To Create A Cloud-Native Database Service.