Her salary is under review. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. So, we built the first online ticketing for them. Net Worth, Salary, House. He set that up. Nick Lachey is an American singer, actor, songwriter, television personality, and host who has a net worth of $25 million. Thats what we did for a while. Theres got to be a better way. 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. In our case, we happen to have three to make it easy. Now valued at over $1 billion, OfferUp is no different. We were not paying ourselves. 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. Little did we know social media was coming. There are two areas in which OfferUp generates revenue. We have lots of information about Nicholas: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is unknown. What an amazing business that youve built with OfferUp. "Nick and Arean did a fantastic job rethinking what a smartphone could do to deliver an easier, faster and more enjoyable user experience for both buyers and sellers, which in turn has driven both liquidity and virality in the marketplace," said Justin Sadrian, a managing director at Warburg Pincus, an OfferUp investor. Ultimately, they decided to close it down. I had a father who worked at Boeing his whole life. In her 2016 Internet Trends report, Mary Meeker, a senior partner at venture firm Kleiner Perkins Caufield and Byers, wrote that OfferUp users spend an average of 25 minutes per day on the OfferUp app, which is the same amount of time users spend on Instagram and Snapchat (and more time than on both Pinterest and Twitter). Im happy to chat. Nick Huzar: Thank you so much for having me. I can design things, and then I can cut them up, and I can make them interactive. 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. Theyre using it, and if you look at the usage overall, were looking at billions of dollars every month worth of goods being sold on the OfferUp marketplace. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. Thats been a big part of it. 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. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. I had a blessed upbringing. Probably just not the best advisors and folks around the table. Particularly, the browsing experience when you first open up the app. We made a series of pivots. The first thing in my mind was not, Hey, theres something here. If you look at commerce in general in the U.S., about 85% of it is still not online today. As of March 2023,Nicki Minaj has an estimated net worth of over $100 million. There are two areas in which OfferUp generates revenue. Please subscribe to unlock this content. Arean van Veelen (left) and Nick Huzar (right) are the co-founders of OfferUp. How did venture capitalists view the investment opportunity? : It was great. Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. So, Im sure he thinks what Im doing is a little crazy to him. 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. Nick Huzar: Thanks for having me. Thats equally as important. 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. florence nightingale concept 2 via de boleto Together, they oversee over 100 OfferUp employees. Sure, there are plenty of challenges. 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. 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? I mentioned the stories of our origin; I still feel like were very much in the early days. The way we separated those out was intentional, where we came up with core values fairly early in our evolution, and what we didnt want to do is what I think a lot of companies do. 10/10 Amanda Bynes- Estimated Net Worth $3 Million. He set up our entire first back-end system on AWS. Theres got to be a better way. So, obviously, part of the startup experience too. I think thats a great idea. He and I threw in $800 the first event. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. We only raised about $100,000 our first year, but we didnt have an office space. Well continue to obsess over liquidity. The other one was the cameras would get better, and we could leverage that. I think that were going to really enjoy the guest that we have today. And if you got any value either from this episode or from the show itself, share it with a friend. How much is Nick Kyrgios' Net Worth in 2022? 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 made a lot of mistakes hiring. We do a lot within the product to connect buyers to the right sellers. To ensure a more trustworthy transaction, the marketplace has a verified identification system (which requires state-issued identification and Facebook profile), user profiles, buyer and seller ratings and in-app messaging. Its not just up and to the right. Alejandro: So, originally born and raised in the Seattle area. That is a combined net worth with his wife, model/actress Vanessa . 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. You want to find the right people to believe in where youre going and are really motivated and excited about that. The other one is payments. My parents threw me into a bunch of things as a kid. Nick Huzar is CEO and Co-Founder of OfferUp. We give them promotions and analytics. Sure, there are plenty of challenges. I think they were all great people in their own right, but for what we were trying to build, probably not. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. Will His AI Plans Be Any Different? How will you associate putting paint on a canvas with perhaps building and scaling a business? Those are our overall what we look for in people before they even come into the halls of OfferUp. He set up our entire first back-end system on AWS. OfferUp is hoping technology will simplify the sale process and enable users to monetize the cash hiding in their home. 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. I designed the app. It was Driven, Neighborly, and Adaptable. She has made most of her net worth through her record sales as well as her music tours. Youve got a job. Thats probably one of my biggest painful lessons from back then. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. Probably just not the best advisors and folks around the table. : Yeah, definitely. 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. They claim and aim to increase this amount further as time passes. I would build out the website. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. 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. Alejandro: I understand that you guys have raised quite a bit of money for the business, too. Im sure that all those experiences and lessons with Konnects you were able to apply them here. : Got it. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. I analyzed every way, everybody. Its not engineering for the sake of engineering. I think that also ties nicely into culture and the intention about that. 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. Nick Huzar: I think businesses are about people, so when I think about it and when I think about the investors and the team. Nick Huzar: 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. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. 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. Eine andere -Site. The boss, obviously, in your life. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. But I kept thinking to myself, Man, because of these devices, can we re-imagine what local commerce actually is? I started to uncover things like 25% of U.S. households with a two-car garage cant park in their garage. People were throwing money everywhere. He coded our first Android app in the summer, all by himself. But Id say the first year working there, there were about 25 people in that company. That was the idea behind it. But my wife and I moved into a good-sized house. Nicki also makes millions through her endorsements deals for big brands like Pepsi. As of December 2022, total funding raised is $381 million. He was definitely that. 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. OfferUp CEO Nick Huzar says the surge in eCommerce demand has created a "seller's market" in recommerce and one that includes a larger variety of seller types. That was the whole idea. We were making more money doing that than we were in our day job. So, to jump into another startup was the last thing in my mind. 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 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. Or, for BMX, we built their first-ever eCommerce website. Tell us about the turning page here, going into a new chapter. : I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. : Currently, we have about 280, and we are actively hiring at the moment. He was able to figure things out. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. Perhaps they will also appreciate it. Then once people are hired and we interview for the best, we have what we call our Operating Principles. OfferUp plans to invest in product innovation and will hire for open roles a stark contrast to many tech startups that are trimming headcount due to . How do you hire? He has an estimated net worth of $15 million, which includes his luxurious home in Canberra, Australia. I think that were going to really enjoy the guest that we have today. I came up with a logo. 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. 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. With over 33 million downloads and more than $14 billion in transactions, OfferUp is now the largest mobile marketplace in the U.S. 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. Theyre constantly in this process of bettering themselves. 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. : When I left Konnect, I had no intention of leading another company. 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. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. Or, diving deep. He has appeared in shows as well as advised some companies. Greg Theer of Tacoma, Washington uses OfferUp to sell his unique clock and garden sculpture creations to help fund his sons college tuition. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? Nick Huzar: Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? We would find that handful of engineers, and we would pay them. But, luckily, she was supportive, and I think shes always believed in me. I think thats a big part early on. Unsure about a selling price? I could design all the apps, but Im not a great back-end engineer at all. We had been married, and we always wanted to have kids. : I think businesses are about people, so when I think about it and when I think about the investors and the team. While consumer commerce continues to evolve in specific areas, its rare to have a company completely redefine the marketplace experience from start to finish. 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 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. Nick Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. I think I learned a lot of painful learning lessons from doing that. For me, the most basic way, when I started an offer up, I came up with a design. This is so creative. You went to Washington State University, and you got involved with business and computers. He is a founder that has done it multiple times. Again, given my artistic bent, I taught myself Photoshop. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. I think thats a big part early on. I think were probably one of the top places in the country in terms of units. Im thinking to myself, Chill me now. : Very cool. He figured that out on his own. Weve always focused a lot on this excess of sellers and buyers and connecting them. What are your core values at OfferUp? I think well continue to see a shift towards mobile, van Veelen said. 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. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. Alejandro: Got it. What is in the retail store down the street, and why dont people know that those things exist in there. There were thousands of 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. The only examples we could look to at the time were dating sites. 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 had a father who worked at Boeing his whole life. Little did we know social media was coming. Thats probably the biggest one. Thats something I definitely advise people to not do just given how much I learned through that. See How I Can Help You With Your Fundraising Efforts. The Net worth of Nick Viall is still yet to be revealed. 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. Some users use OfferUp to help grow their small businesses. Relationship: Married . Nick Eh 30 is a Canadian YouTube gamer and a live-streamer who . 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? OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. OfferUp is that type of company and it has been rewarded by a fiercely loyal and engaged user base, and explosive growth. One is promotions, and thats simply helping sellers to be more successful. And, by the way, I never told the seller that I worked at OfferUp. Again, were only in the United States. He is becoming more successful day by day and will soon surpass his current net worth. So, there were a series of different changes over a period of time to be explored. Jonas formed a band with his older brothers, Joe, and Kevin, known as the Jonas Brothers. 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. He understands engineering is just enabling an outcome. So, you get the green light, and what happened next? If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. Nick Saban is the highest-paid college football coach in the world, and his salary matches his reputation . Alejandro: Marketplaces are obviously a beast. Its not engineering for the sake of engineering. That would have just ended it for me. How is your office laid out? The fast-forward, over the next year or so, we had done 30 of these. He did a lot of back-end database. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. Amazing. Alejandro: Alrighty. We had a lot of great. I think it was good. There are plenty of things that you just dont sign up for that you have to address as somebody thats, : 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. The second promotional area is our auto business. 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. I had a blessed upbringing. That was a lot of work. The first thing in my mind was not, Hey, theres something here. 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. I used to go to Goodwill stores, and Id realized the cars never stopped. 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. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. Despite these statistics, 68% plan to donate their unneeded items, and more than one in eight people planned to throw them in the trash. 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? Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. Can I communicate succinctly? It was great. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. : You can always reach out to me on Twitter. How was life growing up there? In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. How do you guys make money for the people that are listening? I think I was making $27,000 a year back then. So, we got very intentional about that. It was barely enough to eat and pay my rent. . How did you develop that love for computers, too? : Very nice. Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) 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. That helps them to sell things faster. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. We raised a little bit of money. I had a room full of stuff. Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. I am excited to work with Nick, Arean and the team there to continue to usher in the era of mobile-driven local commerce.. Nick Saban is an American college football head coach who has a net worth of $70 million. I just wanted them to believe it actually worked. I think that also ties nicely into culture and the intention about that. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. 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. This is going to take me a whole weekend just to post these items online yourself. I look forward to it. 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. This documentary-style series follows investigative journalists as they uncover the truth. Again, because were always focusing on removing friction. Dunlap joins OfferUp at an exciting time for the company. We came up with those three because we looked around the company at the time. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. I can design things, and then I can cut them up, and I can make them interactive. So, another great learning lesson I had is, find partners and co-founders that are very different than you and can complement the areas youre not that strong in. If you look at annual adoption from our customers, were looking at over 44 million. He and I would sit down and rift on things quite a bit. Our homes are actually 30% larger than the 1950s, but were having less children. 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. 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. Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. That would have just ended it for me. It was to explore, like more of the treasure hunt type of experience. One is promotions, and thats simply helping sellers to be more successful. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. I was fortunate to sit next to engineers who taught me how to code. Amazing. Van Veelen. Today, we offer that via shipping. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). 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. 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. The founders furnished the companys headquarters with a Yoda statue and Stormtrooper suit that they purchased from the OfferUp app. Then once people are hired and we interview for the best, we have what we call our Operating Principles. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. Other OfferUp investors include Coatue Management, Tiger Global, T. Rowe Price, Allen & Company, High Line Venture Partners, GGV Capital, Third Kind Capital, Altimeter Capital and Vy Capital, among others. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Nick Huzar: Yeah. : Yeah. In fact, short story, I took out a bunch of student loan debts to buy my first computer, which back then was $2,200. Alejandro: Definitely, you learned the sleeping on an air mattress and living in the office. Within a year, year and a half, I was loving the internet. I had a wife that was working, and I had a daughter on the way. She is a rapper, singer, and songwriter from Trinidad & Tobago. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. So, thats the time in history when I graduated. We could make it a visual experience, this kind of geo-aware. It was extremely expensive back then. 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. Opinions expressed by Forbes Contributors are their own. Until now. Great investments are built on a solid investment thesis. He set that up. . I think they were all great people in their own right, but for what we were trying to build, probably not. Tell us about the early days, and also how you incubated the concept of the idea. Success is not a linear line. That helps them to sell things faster. This is just the consumer side of things, but I also started to spend time in local retail stores. If you look at annual adoption from our customers, were looking at over 44 million. Your email address is 100% safe from spam! She can also be seen posing for covers of several beauty magazines. You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. Alejandro: Got it. Its also a lot of work. 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. Again, given my artistic bent, I taught myself Photoshop.
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