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. I had a father who worked at Boeing his whole life. : So, you got the blessing from the boss-in-house. Some users use OfferUp to help grow their small businesses. You can literally use it for almost anything. Our homes are actually 30% larger than the 1950s, but were having less children. 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. I have a trampoline that I purchased. So, you get the green light, and what happened next? You want to find the right people to believe in where youre going and are really motivated and excited about that. In March 2020, the company raised another $120 million through the acquisition of Letgo. The other one was the cameras would get better, and we could leverage that. For me, the most basic way, when I started an offer up, I came up with a design. The other half is how did you do the work. : Id say definitely the people. 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. Nick Eh 30 Net Worth 2023: Age, Height, Weight, Girlfriend, Dating, Bio We came up with those three because we looked around the company at the time. nick huzar net worth 2020 - theicebird.at 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. 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. Dont cut corners on that. I knew I was passionate about computers. You also are going to see a lot of big changes this year in our product. How do you guys make money for the people that are listening? Thats a nice, easy way to get ahold of me. If you look at commerce in general in the U.S., about 85% of it is still not online today. According to Jordan, as a mobile-first platform, OfferUp emerged as a disruptor by providing an improved user interface, frictionless experience and on-demand transactions from anywhere. It was to explore, like more of the treasure hunt type of experience. I can work with engineers, and tie into databases, and be functional. He did a lot of back-end database. Alejandro: Very nice, and very timely given the times that were living in. 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. I dont think we even had core values or anything. What are your core values at OfferUp? You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. nick huzar net worth 2020 - regalosdemiparati.com Success is not a linear line. 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. We had this concept of why cant we just emulate that online? Today, we offer that via shipping. OfferUp is the largest mobile marketplace in the USA. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? This is just the consumer side of things, but I also started to spend time in local retail stores. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. Again, given my artistic bent, I taught myself Photoshop. Alejandro: Marketplaces are obviously a beast. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. 2022.7.1; prince of wales hospital hong kong address; Tweet; Share +1; Hatena; RSS . nick huzar net worth 2020 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. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. We were not paying ourselves. Nick Huzar's email & phone | OfferUp's Chief Executive Officer I mentioned the stories of our origin; I still feel like were very much in the early days. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. He is a founder that has done it multiple times. We could make it a visual experience, this kind of geo-aware. OfferUp taps Booking.com exec for CEO role - Puget Sound Business Journal I came up with a logo. When we could find engineers, we would pay them just a teeny bit, but wed compensate them more with ownership and stock in what we were building. It was extremely expensive back then. Nick Saban is the highest-paid college football coach in the world, and his salary matches his reputation . I had a father who worked at Boeing his whole life. They have too many, and theyre just on a wall, and no one really thinks about them. I go back to even reflecting on my own decisions. Alejandro: Ive heard you talk about core values a few times and how that ties into culture. How many employees do you guys have, Nick? I think I was making $27,000 a year back then. : When I left Konnect, I had no intention of leading another company. 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. 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. 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. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? : Got it. 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. This is so creative. I could code that. Ultimately, they decided to close it down. I started to buy and sell things locally. 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? Nick Jonas' Net Worth (Updated 2023) | Wealthy Gorilla Why? 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. 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. : I think businesses are about people, so when I think about it and when I think about the investors and the team. People were throwing money everywhere. 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. '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. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. Those are our overall what we look for in people before they even come into the halls of OfferUp. The advent of the mobile revolution transformed the way in which people transact. I need to have it. In our case, we happen to have three to make it easy. 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? Eine andere -Site. Thats what we did for a while. I analyzed every way, everybody. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. 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 email address & phone number - RocketReach And, by the way, I never told the seller that I worked at OfferUp. But, luckily, she was supportive, and I think shes always believed in me. I think thats a great idea. He and I threw in $800 the first event. Thats interesting. 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. CEO, Mentor (mentormoney.com). Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. Great investments are built on a solid investment thesis. 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. I think that were going to really enjoy the guest that we have today. He definitely did that, and I feel like I did that. OfferUp was one of the first, truly mobile marketplaces and more and more experiences are going to continue to happen exclusively via smartphones., Top 3 Tips From OfferUp To Convert Your Items To Cash. Id say as hard as it is, the people are everything. You can keep going as a company and think about how those things get shaped. 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. Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. As new fathers, they needed to sell their old belongings to make room for their newborns, but felt limited by the existing online options. 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. 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. : There we go. 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. California Weighs $360,000 in Reparations to Eligible Black Residents. We were finding that theyre able to sell cars way faster by signing up for this program. My parents threw me into a bunch of things as a kid. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. Thats equally as important. The hottest area in real estate is not commercial, is not residential; its actually storage. : By the way, he would hate it if I called him an engineer because he is definitely more than that. "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.". He was definitely that. Please subscribe to unlock this content. Within a year, year and a half, I was loving the internet. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. You have a lot more exposure across the country. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). Net Worth:$100 MillionAge:39Born:December 8, 1982Gender:FemaleHeight:1.57 m (5 ft 2 in)Country of Origin:Trinidad & TobagoSource of Wealth:Rapper/ActorLast Updated:August 2, 2022. 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. Alejandro: Definitely, you learned the sleeping on an air mattress and living in the office. With Nick Huzar leadership, Konnects growth exploded growing from 1,500 members to over 1 million within 18 months. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Nick Huzar: You can always reach out to me on Twitter. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. One day, she said, Im pregnant. Im like, Im so excited! I go into dad mode, and I open up that door to this room that Im going to turn into her nursery, my soon-to-be daughters nursery. Im sure that all those experiences and lessons with Konnects you were able to apply them here. Hello everyone, and welcome to the. I mentioned the stories of our origin; I still feel like were very much in the early days. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. Nick Lachey is an American singer, actor, songwriter, television personality, and host who has a net worth of $25 million. 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. Nick Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. To give you an idea of scale, weve been installed about 90 million times. The founders furnished the companys headquarters with a Yoda statue and Stormtrooper suit that they purchased from the OfferUp app. Bestselling Author, The Lemonade Life. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. That would have just ended it for me. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. Again, because were always focusing on removing friction. Again, were only in the United States. It wasnt to be great in search like other marketplaces are. Nick Huzar oversaw the hiring of personnel, growing the team from 2 to 26 people. Can I communicate succinctly? We started very early, way before Friendster, way before Myspace. : Thank you so much for having me. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. : Then, after this, you ended up leaving, and then the company ended up closing down. Alejandro: 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. So, that was some of the initial sketches that we did. I cant exist without my computer. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Despite these statistics, 68% plan to donate their unneeded items, and more than one in eight people planned to throw them in the trash. That was the idea behind it. The only examples we could look to at the time were dating sites. Those are our overall what we look for in people before they even come into the halls of OfferUp. : Yeah, definitely. But, luckily, she was supportive, and I think shes always believed in me. Nick Huzar: In our case, we happen to have two different buckets. Dunlap joins OfferUp at an exciting time for the company. I know that OfferUp was also a result of doing a pivot. Again, given my artistic bent, I taught myself Photoshop. 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. Nicholas J Huzar, 43 - Wentzville, MO - Has Court or Arrest Records Why is this problem existing? It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. What an amazing business that youve built with OfferUp. I think well continue to see a shift towards mobile, van Veelen said. He and I would sit down and rift on things quite a bit. I was just a sponge. The Investment Thesis: A Venture Capitalist Perspective. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. 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. 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. How do you guys make money for the people that are listening? He did a lot of back-end database. There were thousands of them. : Very nice, and very timely given the times that were living in. He has a small car collection also which . So, thats the time in history when I graduated. : As I mentioned earlier, with some of the founding stories, Id say liquidity [28:19] is the number one metric that we spend a lot of time focusing on because we want to make sure that were creating the best experience for buyers and sellers. Sure, there are plenty of challenges. Then once people are hired and we interview for the best, we have what we call our Operating Principles. Alejandro: So, originally born and raised in the Seattle area. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. If you look at annual adoption from our customers, were looking at over 44 million. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. What would you say really made him such an amazing tech co-founder? : Definitely, you learned the sleeping on an air mattress and living in the office. Its not just up and to the right. Nick Huzar, OfferUp Inc: Profile and Biography - Bloomberg Markets What are your core values at OfferUp? He only had one job. There are so many things that you can influence and help drive. I could design all the apps, but Im not a great back-end engineer at all. 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. . Nick Huzar Net Worth. I can design things, and then I can cut them up, and I can make them interactive. And if you got any value either from this episode or from the show itself, share it with a friend. We expect people to dive deep into things like that. How deep in the business are you going and understanding the metrics and inputs and the outputs, and we expect that from everybody, whether an executive or somebody on the frontlines of our customer service team. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. OfferUp is that type of company and it has been rewarded by a fiercely loyal and engaged user base, and explosive growth. He figured that out on his own. The other one was the cameras would get better, and we could leverage that. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. Follow Zack on Twitter and read his columns in Forbes. If you want me to do your fundraising for you, click here. His main source of income is his career as an entrepreneur. In fact, this chair Im sitting inin my office is from OfferUp. Again, were only in the United States. Where do you hire? He coded our first Android app in the summer, all by himself. 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. 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. OfferUp Founder Nick Huzar Sent This Message to All Employees and I left, and I had a co-founder and an investor that ran it for another year. The other one is payments. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. I was fortunate to sit next to engineers who taught me how to code. I think it was good. 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. So, I have three kids bikes. He figured that out on his own. An example of that is, can I take complex problems and distill them down? It was Driven, Neighborly, and Adaptable. Im sure this was an incredible MBA experience for you in real life. They have too many, and theyre just on a wall, and no one really thinks about them. We do a lot within the product to connect buyers to the right sellers. I think thats a big part early on. Conclusion OfferUp revenue model may have been complex to understand, but it is definitely an effective one. He and I would sit down and rift on things quite a bit. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. We learned through that experience. Nicki Minaj Net Worth. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. Huzar and van Veelen focused intently on understanding the competitive landscape, consumer behavior and the economic backdrop to design a tech-enabled solution for its customer base.