: Yeah. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? He was able to figure things out. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. He and I would sit down and rift on things quite a bit. See How I Can Help You With Your Fundraising Efforts. I know that OfferUp was also a result of doing a pivot. Despite these statistics, 68% plan to donate their unneeded items, and more than one in eight people planned to throw them in the trash. 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. : Ive heard you talk about core values a few times and how that ties into culture. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. Its also a lot of work. Nick Huzar Net Worth. I grew up in a suburb about 20 minutes south of Seattle. Can I communicate succinctly? I think that also ties nicely into culture and the intention about that. You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. We were never going to beat and become something like a Facebook. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. I want to ask you this: if you had the opportunity to go back in time, and maybe to that time when you were in your early 20s thinking about how to launch a business, how to start a company, how to scale and build it. Then he got the idea for. An example of that is, can I take complex problems and distill them down? You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. But Id say the first year working there, there were about 25 people in that company. Will His AI Plans Be Any Different? Will Others Follow? 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. Nick Huzar Chief Executive Officer OfferUp Bellevue, Washington Get Nick's Email (it's Free) Takes 5 seconds to join, no credit card required Nick's Email xxxx@xxx.com + Full Profile Information + Social Network Profiles + See who you and Nick Huzar know in common Example: Nick Huzar , Elon Musk We made a series of pivots. 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 used to go to Goodwill stores, and Id realized the cars never stopped. But, luckily, she was supportive, and I think shes always believed in me. Eine andere -Site. Then, adaptable. 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. That was the idea behind it. 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. Find out how former world number one professional tennis player, writer, and politician Ilie Nstase earned his net worth. How was life growing up there? 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. Or, for BMX, we built their first-ever eCommerce website. We said, Who are the people that are striving here, and why? You look at driven, for example. Alejandro: Definitely, you learned the sleeping on an air mattress and living in the office. Probably just not the best advisors and folks around the table. 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. My parents threw me into a bunch of things as a kid. 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. I was just a sponge. What do you look for in culture? Im sure that all those experiences and lessons with Konnects you were able to apply them here. Alejandro: So, you got the blessing from the boss-in-house. We came up with those three because we looked around the company at the time. 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. Alejandro: I understand that you guys have raised quite a bit of money for the business, too. An example of that is, can I take complex problems and distill them down? Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. 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 look at annual adoption from our customers, were looking at over 44 million. Her salary is under review. 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. : In our case, we happen to have two different buckets. One is promotions, and thats simply helping sellers to be more successful. It was more, Can you do the work? 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. 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 . Well continue to obsess over liquidity. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. 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? The other one was the cameras would get better, and we could leverage that. Dont cut corners on that. Theyre constantly in this process of bettering themselves. He definitely did that, and I feel like I did that. . To give you an idea of scale, weve been installed about 90 million times. I started to buy and sell things locally. "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.". : By the way, he would hate it if I called him an engineer because he is definitely more than that. 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. 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. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. In the first year, I think the hard part was, I had convinced a brilliant engineer that I worked with and connected to co-found OfferUp with me. The only examples we could look to at the time were dating sites. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. He is a founder that has done it multiple times. 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. How many employees do you guys have, Nick? How do you guys make money for the people that are listening? Nick Huzar: Thanks for having me. 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 had a father who worked at Boeing his whole life. Nick Huzar: When I left Konnect, I had no intention of leading another company. But my wife and I moved into a good-sized house. This is so creative. Just enter your email below. 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 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. She has made most of her net worth through her record sales as well as her music tours. Your email address is 100% safe from spam! Its not just up and to the right. I can work with engineers, and tie into databases, and be functional. Within a year, year and a half, I was loving the internet. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. Net Worth, Salary, House. 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. 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. In March 2020, the company raised another $120 million through the acquisition of Letgo. Ultimately, they decided to close it down. I could code that. I dont think we even had core values or anything. What is in the retail store down the street, and why dont people know that those things exist in there. I left, and I had a co-founder and an investor that ran it for another year. There are two areas in which OfferUp generates revenue. I look forward to it. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. Relationship: Married . (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.. 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? He has founded many companies which are doing very well. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. Alejandro: There we go. 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. Sure, there are plenty of challenges. And if you got any value either from this episode or from the show itself, share it with a friend. The other one was the cameras would get better, and we could leverage that. Thats something I definitely advise people to not do just given how much I learned through that. If youre not intentional, culture is just going to take the form that its going to take for better or worse. So, we got very intentional about that. : 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. I just wanted them to believe it actually worked. The founder and co-founder, Nick Huzar and Arean van Veelen do not plan to stop here. We had a lot of great. Okay, great. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. We didnt see any examples of what we were doing in a smartphone. That was the whole idea. 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. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. Alejandro: Marketplaces are obviously a beast. As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. We raised millions of dollars, mostly from angels. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? 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. : Then, after this, you ended up leaving, and then the company ended up closing down. How do you hire? Nick Huzar: I think businesses are about people, so when I think about it and when I think about the investors and the team. 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. Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. We hired too quickly, and we didnt know what we wanted. 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. The show takes listeners inside the business end of the sports world, and explains what it means to fans and their pocketbooks. 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. Well, Nick, thank you so much for being on the DealMakers show. : I understand that you guys have raised quite a bit of money for the business, too. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. 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? Product. So, thats the time in history when I graduated. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. I would build out the website. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. We could leverage chat. I had a blessed upbringing. What would you say was the most painful and the biggest lesson, at the same time, for you? : Yeah, definitely. 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. We expect people to dive deep into things like that. You went to Washington State University, and you got involved with business and computers. One is core values, and the other is operating principles. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at [emailprotected]. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. I think they were all great people in their own right, but for what we were trying to build, probably not. Today, we offer that via shipping. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Alejandro: Very nice. 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).
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