Again, were only in the United States. Nick Huzar: By the way, he would hate it if I called him an engineer because he is definitely more than that. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. We expect people to dive deep into things like that. : What ended up being the business model of the business? Nick Huzar played a vital role in assisting the CEO with fundraising efforts which attracted over $6 million in investment. 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. Alejandro: Very nice. Nick Eh 30 Net Worth. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. We sell a ton of cars at OfferUp. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. He understands engineering is just enabling an outcome. How was life growing up there? You also are going to see a lot of big changes this year in our product. We were never going to beat and become something like a Facebook. Thats something I definitely advise people to not do just given how much I learned through that. 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. We do a lot within the product to connect buyers to the right sellers. We had this concept of why cant we just emulate that online? 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. If you want me to do your fundraising for you, click here. Lets check out Nick Huzar Net worth income salary 2021 report details which is given below. Youve probably thought about this very well at the beginning, and now as youre looking at pushing other markets, how do you guys think about liquidity in the marketplace? For me, the most basic way, when I started an offer up, I came up with a design. At the time, I think we were the first app to do that. I grew up in a suburb about 20 minutes south of Seattle. (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.. I think that also ties nicely into culture and the intention about that. We do a lot within the product to connect buyers to the right sellers. Nick Huzar: When I left Konnect, I had no intention of leading another company. Nicki Minaj Net Worth 2023: Age, Height, Weight, Husband, Kids, Bio Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. : In our case, we happen to have two different buckets. Weve always focused a lot on this excess of sellers and buyers and connecting them. So, we found a handful of people that were willing to actually do that at that time. Once down to its last $350, this fast-growing startup is now - GeekWire 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. How do you hire? Between he and I, we were able to build the first website, the first mobile app. His main source of income is his career as an entrepreneur. 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. Our homes are actually 30% larger than the 1950s, but were having less children. We expect people to dive deep into things like that. OfferUp Founder Nick Huzar Sent This Message to All Employees and I knew I was passionate about computers. So, thats the time in history when I graduated. I had a blessed upbringing. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? 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. The shoes Im wearing are from OfferUp. Alejandro: Got it. In fact, short story, I took out a bunch of student loan debts to buy my first computer, which back then was $2,200. Like I said, its been a lot of work, and as you mentioned, I was sleeping on an air mattress, which is not that comfortable. : Got it. I just wanted them to believe it actually worked. : And this led you in your 20s to your first company. He set that up. He only had one job. I think I learned a lot of painful learning lessons from doing that. That helps them to sell things faster. Im happy to chat. The second promotional area is our auto business. Nick Saban is an American college football head coach who has a net worth of $70 million. A few other stats that I think might be interesting about our OfferUp community and usage is, especially with this transaction coming together, well have 20 million users across the U.S. We also have a lot of our top markets where we started to see double-digit growth. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. But, luckily, she was supportive, and I think shes always believed in me. You can keep going as a company and think about how those things get shaped. NCERT Point | Celeberities Net Worth, Biography Wikipedia Earlier in his Career Nick held positions at T-Mobile and Microsoft. So, you get the green light, and what happened next? Between he and I, we were able to build the first website, the first mobile app. The hottest area in real estate is not commercial, is not residential; its actually storage. The hottest area in real estate is not commercial, is not residential; its actually storage. "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. OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. Like I said, in any small startup, thats got to be there. 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 think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. Its not just up and to the right. The only examples we could look to at the time were dating sites. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. 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 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. 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. Until now. We made a series of pivots. 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. I had a room full of stuff. There are two areas in which OfferUp generates revenue. : What I love about building companies. 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. I think thats a big part early on. I can design things, and then I can cut them up, and I can make them interactive. Okay, great. : So, you got the blessing from the boss-in-house. Alejandro: Very nice, and very timely given the times that were living in. "2020 was a pivotal year for OfferUp," said Nick Huzar, OfferUp co-founder and current CEO."OfferUp was a critical lifeline to millions of . Theres got to be a better way. My wife is also my boss. . 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. Tell us about the early days, and also how you incubated the concept of the idea. We were making more money doing that than we were in our day job. I dont think we even had core values or anything. But Id say the first year working there, there were about 25 people in that company. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. As of March 2023,Nicki Minaj has an estimated net worth of over $100 million. We would find that handful of engineers, and we would pay them. I have a trampoline that I purchased. 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. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. So, we built the first online ticketing for them. While consumer commerce continues to evolve in specific areas, its rare to have a company completely redefine the marketplace experience from start to finish. Amazing. My parents threw me into a bunch of things as a kid. You want to find the right people to believe in where youre going and are really motivated and excited about that. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. According to a 2016 OfferUp and ClearVoice survey, OfferUp found that 48% of respondents consider their home to be cluttered with items they do not use, and 62% own more than 10 items they have not used in the past year. So, were looking to grow not only our Seattle office, but we also have an office in Miami as well. Nick Huzar: Yeah. 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. : 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. 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. Nick Huzar oversaw the hiring of personnel, growing the team from 2 to 26 people. So, you get the green light, and what happened next? We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. As a marketplace, OfferUp is not only positioned to help declutter your life, but it is also a monetization platform to convert unwanted items to extra cash. 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. 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. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. Our homes are actually 30% larger than the 1950s, but were having less children. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). We hired. northern state university softball roster. 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. It was to explore, like more of the treasure hunt type of experience. Thats probably the biggest one. As of February 2023, Nick Jonas' net worth is estimated to be $70 Million. The first thing in my mind was not, Hey, theres something here. Despite these statistics, 68% plan to donate their unneeded items, and more than one in eight people planned to throw them in the trash. Nick Huzar: Yeah, definitely. That helps them to sell things faster. 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. How will you associate putting paint on a canvas with perhaps building and scaling a business? Also. If you look at commerce in general in the U.S., about 85% of it is still not online today. A few other stats that I think might be interesting about our OfferUp community and usage is, especially with this transaction coming together, well have 20 million users across the U.S. We also have a lot of our top markets where we started to see double-digit growth. Those are our overall what we look for in people before they even come into the halls of OfferUp. 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? 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. I left, and I had a co-founder and an investor that ran it for another year. But my wife and I moved into a good-sized house. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? Her salary is under review. Nicki Minaj Net Worth. The founder and co-founder, Nick Huzar and Arean van Veelen do not plan to stop here. 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. And if you got any value either from this episode or from the show itself, share it with a friend. I think that were going to really enjoy the guest that we have today. I think I learned a lot of painful learning lessons from doing that. Youve probably thought about this very well at the beginning, and now as youre looking at pushing other markets, how do you guys think about liquidity in the marketplace? Rather than specify a price, sellers can also list their item as not firm on price, which means buyers are able to chat and negotiate with sellers before deciding on a price. nick huzar net worth 2020 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. 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. How do you guys make money for the people that are listening? So, we built the first online ticketing for them. Then once people are hired and we interview for the best, we have what we call our Operating Principles. 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 other half is how did you do the work. If you like the show, make sure that you hit that subscribe button. But, luckily, she was supportive, and I think shes always believed in me. How many employees do you guys have, Nick? So, we got very intentional about that. I had a wife that was working, and I had a daughter on the way. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. 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. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. 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. He set that up. Why? For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. That is a combined net worth with his wife, model/actress Vanessa . Nick Jonas' Net Worth (Updated 2023) | Wealthy Gorilla I need to have it. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. : Very nice. OfferUp also found that 46% of respondents find it difficult to meet their household expenses on time each month, and 50% have more than $1,000 in credit card debt. 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? We said, Who are the people that are striving here, and why? You look at driven, for example. But there are other dimensions to that. That was the whole idea. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Pres/Chief Product Ofcr/Co-Founder, OfferUp Inc. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. 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. 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. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. In the early 2000s, Craigslist disrupted the classified advertising market by converting newspaper readers to online users and thereby decimating the print media advertising model. Amazing. I came up with a logo. Then, adaptable. Respondents feel that it is easier to donate than sell, citing the required time investment and amount of work. Nick Saban Net Worth | Celebrity Net Worth : Ive heard you talk about core values a few times and how that ties into culture. stufftv.org - Enlightenment. Action. Impact. Conclusion OfferUp revenue model may have been complex to understand, but it is definitely an effective one. Meet Two Young Entrepreneurs Who Raised $221 Million To - Forbes Please subscribe to unlock this content. 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. How Does OfferUp Make Money? Well, Nick, thank you so much for being on the DealMakers show. Jonas formed a band with his older brothers, Joe, and Kevin, known as the Jonas Brothers. How much money have you guys raised to date that is probably disclosed? I started to buy and sell things locally. Users can conduct the entire transaction through their smart phone: snapping and uploading photos of an item to sell, adding a description and interacting with potential buyers. I was just a sponge. Okay, great. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. San Francisco Bay Area, Silicon Valley), This describes the type of investor the person is (e.g. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. That would have just ended it for me. Opinions expressed by Forbes Contributors are their own. 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. Then he got the idea for. But Id say the first year working there, there were about 25 people in that company. Your email address is 100% safe from spam! nick huzar net worth 2020 - theicebird.at As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. One is promotions, and thats simply helping sellers to be more successful. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? 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. florence nightingale concept 2 via de boleto Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. . Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. We dont have to send out our phone numbers and our emails anymore, and we can make it much more secure. That was the whole idea. Neighborly: we have a no asshole policy. 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. Why is this problem existing? Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. That would have just ended it for me. Thats equally as important. 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. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. People were throwing money everywhere. He was definitely that. 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. We said, Who are the people that are striving here, and why? You look at driven, for example. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. Alejandro: So, originally born and raised in the Seattle area. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. I would design. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. We learned through that experience. Founded in 2011, the peer-to-peer commerce marketplace generated more transactions in less than five years than EBay North America had generated in its first 10 years. Together, they oversee over 100 OfferUp employees. 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. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? Alejandro: So, you got the blessing from the boss-in-house. It was extremely expensive back then. I could code that. You want to find the right people to believe in where youre going and are really motivated and excited about that. Nick Huzar email address & phone number - RocketReach Arean van Veelen (left) and Nick Huzar (right) are the co-founders of OfferUp. Its also a lot of work. He was able to figure things out. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. Or, for BMX, we built their first-ever eCommerce website. So, I have three kids bikes. We have really good features like search alerts and things you can say that will notify people right away. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Ultimately, they decided to close it down. I look forward to it. 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. 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.