I just wanted them to believe it actually worked. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? How do you hire? So, good stuff. Can I communicate succinctly? Most recently, Nick Huzar was the co-founded of Konnects Inc. We were making more money doing that than we were in our day job. Dont cut corners on that. Nick Huzar: Thank you so much for having me. 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. Tell us about the turning page here, going into a new chapter. You can literally use it for almost anything. Neighborly: we have a no asshole policy. Nick Huzar: Id say definitely the people. 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. They had a bunch of theme parks, but they had no online ticketing. Since the smartphone was just starting to really permeate our everyday lives, we wanted to make the most seamless, user-friendly mobile app that makes buying and selling locally easier than ever, van Veelen said. I grew up in a suburb about 20 minutes south of Seattle. How do you guys make money for the people that are listening? We hired. I had a room full of stuff. They created OfferUp to create a simpler and more trusted way to buy and sell locally one in which users leverage the power and ease of their smart phone to take photos and then list and sell items in a more seamless way. Or, for BMX, we built their first-ever eCommerce website. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. I would build out the website. I was leading projects for Paramount Parks. How Does OfferUp Make Money? Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. So, to jump into another startup was the last thing in my mind. I think Ive even learned that mistake early on at Konnects, but I think at OfferUp, we definitely made mistakes there too. Nick Huzar: In our case, we happen to have two different buckets. How many employees do you guys have, Nick? 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. Sure, there are plenty of challenges. I played every different sport you can imagine, so that meant I wasnt great in any one thing. 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. Thats been the whole focal point of the business since Day One. Arean van Veelen (left) and Nick Huzar (right) are the co-founders of OfferUp. So, that was some of the initial sketches that we did. : I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. Why? It was more, Can you do the work? The only examples we could look to at the time were dating sites. I wont list them all, but thats everything from simplified. Then, adaptable. I think I was making $27,000 a year back then. Theyre constantly in this process of bettering themselves. In March 2020, the company raised another $120 million through the acquisition of Letgo. 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. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. What would you say really made him such an amazing tech co-founder? : It was great. Where do you hire? He was able to figure things out. 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. They have too many, and theyre just on a wall, and no one really thinks about them. See How I Can Help You With Your Fundraising Efforts. Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 1 Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Nick Huzar facilitated the design and implementation of a completely new website as the company transitioned from Voicestream to T-Mobile. There were thousands of them. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. To give you an idea of scale, weve been installed about 90 million times. We dont have to send out our phone numbers and our emails anymore, and we can make it much more secure. She is a rapper, singer, and songwriter from Trinidad & Tobago. 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. 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. 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. We were finding that theyre able to sell cars way faster by signing up for this program. I had a room full of stuff. He set up our entire first back-end system on AWS. I think they were all great people in their own right, but for what we were trying to build, probably not. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. I knew I was passionate about computers. Nick Huzar: By the way, he would hate it if I called him an engineer because he is definitely more than that. I think you need to do it. As soon as she gave me the blessing, I completely stopped interviewing, and I went all-in on OfferUp. What do you look for in culture? As of February 2023, Nick Hanauer has an estimated net worth of more than $1.5 billion. We could leverage chat. It was extremely expensive back then. 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. We didnt see any examples of what we were doing in a smartphone. : I understand that you guys have raised quite a bit of money for the business, too. Ultimately, they decided to close it down. I kept thinking about that moment in the doorway, and I kept looking at my iPhone, which is the second-gen iPhone, and at this time, theres no Android phone even on the scene. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. So, we got very intentional about that. Will Others Follow? So, we found a handful of people that were willing to actually do that at that time. 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. 10/10 Amanda Bynes- Estimated Net Worth $3 Million. How much is Nick Kyrgios' Net Worth in 2022? That was a lot of work. We raised millions of dollars, mostly from angels. Product. Within a year, year and a half, I was loving the internet. From the tough moments, from the tough experiences is where we learn the most. Theres got to be a better way. Bloomberg Business of Sports lets you follow the money in the world of sports, reporting on trades, salaries, endorsements, contracts and collective bargaining. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. Nick Eh 30 Net Worth. If you look at annual adoption from our customers, were looking at over 44 million. 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. 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. Alejandro: Marketplaces are obviously a beast. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. Within a year, year and a half, I was loving the internet. Earlier in his Career Nick held positions at T-Mobile and Microsoft. Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. With over 33 million downloads and more than $14 billion in transactions, OfferUp is now the largest mobile marketplace in the U.S. I look forward to it. We said, Who are the people that are striving here, and why? You look at driven, for example. Some users use OfferUp to help grow their small businesses. Again, were only in the United States. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. So, thats the time in history when I graduated. I wont list them all, but thats everything from simplified. 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 need to have it. Thats interesting. Its become a part of peoples daily lives that use it on an ongoing basis throughout the country. We started very early, way before Friendster, way before Myspace. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. 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. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Your email address is 100% safe from spam! I could code that. If you look at commerce in general in the U.S., about 85% of it is still not online today. He is becoming more successful day by day and will soon surpass his current net worth. Im happy to chat. Huzar wanted to change that, so the company partnered with the non-partisan Civic Alliance to offer voting information to all OfferUp employees and, via a link in its app, to millions of customers . In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. 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. . So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? It was more, Can you do the work? 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. 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. I really just wanted to understand the landscape, but then, with a clean slate, a brand-new slate, how can you do it differently because of the smartphone? Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? What is in the retail store down the street, and why dont people know that those things exist in there. I think Ive even learned that mistake early on at Konnects, but I think at OfferUp, we definitely made mistakes there too. The other one was the cameras would get better, and we could leverage that. I would build out the website. 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 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. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. You can keep going as a company and think about how those things get shaped. So, that was some of the initial sketches that we did. He understands engineering is just enabling an outcome. 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. Success is not a linear line. I can design things, and then I can cut them up, and I can make them interactive. It was great. We learned through that experience. I was fortunate to sit next to engineers who taught me how to code. Biden Hears Oval Office Plea for Alaska Oil Project in Lobbying Frenzy, Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows. Alejandro: Very cool. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. 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. Thats been a big part of it. But my wife and I moved into a good-sized house. That was the idea behind it. But Id say the first year working there, there were about 25 people in that company. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. It was extremely expensive back then. I mentioned the stories of our origin; I still feel like were very much in the early days. They claim and aim to increase this amount further as time passes. 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. Nick Huzar Net Worth. He was able to figure things out. I was just a sponge. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. I used to go to Goodwill stores, and Id realized the cars never stopped. OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. I dont think we even had core values or anything. California Weighs $360,000 in Reparations to Eligible Black Residents. Nick Huzar: When I left Konnect, I had no intention of leading another company. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. (Photo Credit: [+] OfferUp), At the 2013 White House Correspondents Dinner, Conan OBrien quipped that Matt Drudge, founder of the Drudge Report, was not in attendance because he had a prior commitment to teach a web design class in 1997.. : And this led you in your 20s to your first company. Thats a nice, easy way to get ahold of me. Lets check out Nick Huzar Net worth income salary 2021 report details which is given below. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. Buyers can then message sellers to meet, and then pay for items through the app or in person. I used to go to Goodwill stores, and Id realized the cars never stopped. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. Net Worth, Salary, House. Its not engineering for the sake of engineering. Nick Huzar is presently founder, CEO of OfferUp with a mission to revolutionize how people buy and sell locally by providing the simplest and safest solution. Huzar attributed the high level of engagement to OfferUps focus on a secure, frictionless user experience, an image-driven platform and the creation of a community built on personal connectivity. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. You have a lot more exposure across the country. 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. I think thats a big part early on. OfferUp is hoping technology will simplify the sale process and enable users to monetize the cash hiding in their home. That is a combined net worth with his wife, model/actress Vanessa . Nick Saban is the highest-paid college football coach in the world, and his salary matches his reputation . I started to buy and sell things locally. Nick Huzar: OfferUp Current Net Worth: Not known Years at Microsoft: 1 Nick Huzar spent time at Microsoft and T-Mobile after graduating from Washington State. 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. It was to explore, like more of the treasure hunt type of experience. Its not just up and to the right. We give them promotions and analytics. So, good stuff. Probably just not the best advisors and folks around the table. 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. We could make it a visual experience, this kind of geo-aware. We had this concept of why cant we just emulate that online? 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. Again, because were always focusing on removing friction. In this case, it led you to where you are today. You also are going to see a lot of big changes this year in our product. Thats been the whole focal point of the business since Day One. This guy that I worked with, he was like, I want to go through a big event together and bring all these different tech companies together in the Seattle area. He set that up. We sell a ton of cars 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. My parents threw me into a bunch of things as a kid. 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. This is going to take me a whole weekend just to post these items online yourself. Alejandro: Very nice. What an amazing business that youve built with OfferUp. Again, were only in the United States. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. We made a series of pivots. There he designed the original platform and directly managed the engineering and design teams in addition to his daily duties as the companys Chief Technology Officer. What are your core values at OfferUp? As of December 2022, total funding raised is $381 million. 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? There are two areas in which OfferUp generates revenue. That would have just ended it for me. She can also be seen posing for covers of several beauty magazines. 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. : Definitely, you learned the sleeping on an air mattress and living in the office. I feel like I build things and sculpt things, and that works well 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? Alejandro: Ive heard you talk about core values a few times and how that ties into culture. Its not just up and to the right. We have really good features like search alerts and things you can say that will notify people right away. Thats what we did for a while. 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.