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. We could make it a visual experience, this kind of geo-aware. 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. You can literally use it for almost anything. Relationship: Married . 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. 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? Nick Lachey is an American singer, actor, songwriter, television personality, and host who has a net worth of $25 million. 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. He and I would sit down and rift on things quite a bit. I was just a sponge. : In our case, we happen to have two different buckets. I need to have it. Thats equally as important. Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. We had this concept of why cant we just emulate that online? My wife is also my boss. Great investments are built on a solid investment thesis. 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. Nick Huzar: In our case, we happen to have two different buckets. Most days, I feel like I am playing with Legos. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. You went to Washington State University, and you got involved with. 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. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. 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. Nick Huzar is CEO and Co-Founder of OfferUp. 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. 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. 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. : Very nice. We were not paying ourselves. I could code that. : Thank you so much for having me. Huzar and van Veelen focused intently on understanding the competitive landscape, consumer behavior and the economic backdrop to design a tech-enabled solution for its customer base. I played every different sport you can imagine, so that meant I wasnt great in any one thing. 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. Im sure this was an incredible MBA experience for you in real life. 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. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Between he and I, we were able to build the first website, the first mobile app. 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. We had been married, and we always wanted to have kids. I think that also ties nicely into culture and the intention about that. I think I was making $27,000 a year back then. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? With over 33 million downloads and more than $14 billion in transactions, OfferUp is now the largest mobile marketplace in the U.S. Nick Eh 30 is a Canadian YouTube gamer and a live-streamer who . As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. Nick Huzar: Id say definitely the people. 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. : When I left Konnect, I had no intention of leading another company. Most recently, Nick Huzar was the co-founded of Konnects Inc. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. He set that up. Neighborly: we have a no asshole policy. 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 mentioned the stories of our origin; I still feel like were very much in the early days. With Nick Huzar leadership, Konnects growth exploded growing from 1,500 members to over 1 million within 18 months. If you look at commerce in general in the U.S., about 85% of it is still not online today. Like I said, in any small startup, thats got to be there. Europe, Menlo Park, China), Where the person is located (e.g. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. 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. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. Again, given my artistic bent, I taught myself Photoshop. He figured that out on his own. 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. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. This is just the consumer side of things, but I also started to spend time in local retail stores. Okay, great. 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 didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. The fast-forward, over the next year or so, we had done 30 of these. 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. 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. How do you hire? I can design things, and then I can cut them up, and I can make them interactive. The other one was the cameras would get better, and we could leverage that. : Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. And, by the way, I never told the seller that I worked at OfferUp. I just wanted them to believe it actually worked. He is a founder that has done it multiple times. It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. : Very nice. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. : I had, of course, a ton of energy and excitement. He definitely did that, and I feel like I did that. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. Nick Huzar: Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? 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. Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. He was definitely that. florence nightingale concept 2 via de boleto It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. What is in the retail store down the street, and why dont people know that those things exist in there. He coded our first Android app in the summer, all by himself. Im sure that all those experiences and lessons with Konnects you were able to apply them here. 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. 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. But, luckily, she was supportive, and I think shes always believed in me. 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. 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. They had a bunch of theme parks, but they had no online ticketing. Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. 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. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. Im thinking to myself, Chill me now. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. I started to buy and sell things locally. 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. We had been married, and we always wanted to have kids. He understands engineering is just enabling an outcome. On the promotions bucket, we have what we call 1P ads, and thats simply going into the product, and the seller can decide to increase their visibility and pay either one time or a subscription to dramatically increase the visibility of their listings. I think it was good. Its not just up and to the right. What do you think? I said, Hey. They have too many, and theyre just on a wall, and no one really thinks about them. So, we built the first online ticketing for them. : Currently, we have about 280, and we are actively hiring at the moment. They had a bunch of theme parks, but they had no online ticketing. New OfferUp CEO Aims To Grow Commercial Side Of Local Commerce Platform, COVID Creates A Sellers Market In reCommerce, OfferUp CEO: Reinventing Commerce One Local Seller At A Time, Online marketplace OfferUp raises $120M, acquires top competitor letgo, Mobile marketplace OfferUp adds Hold Offers feature as it battles Craigslist, eBay and Facebook, OfferUp launches new Autos section focused on buying and selling used cars, OfferUp Keys In On Used Car Market With the Launch of OfferUp Autos, OfferUp launches SafeTradeSpots.com in conjunction with AIM Group, OfferUp Expands Its Local Marketplace, Launches Nationwide Shipping. My wife is also my boss. It was more, Can you do the work? What would you say was the most painful and the biggest lesson, at the same time, for you? Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Nick Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. Alejandro: Very nice, and very timely given the times that were living in. Well continue to obsess over liquidity. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. : I think businesses are about people, so when I think about it and when I think about the investors and the team. Again, because were always focusing on removing friction. 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. 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. One is core values, and the other is operating principles. . I think that were going to really enjoy the guest that we have today. Theyre constantly in this process of bettering themselves. The first year, thats what we did. Is that right? Hello everyone, and welcome to the DealMakers show. That would have just ended it for me. He set that up. 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. Alejandro: And this led you in your 20s to your first company. Then he got the idea for. Well, Nick, thank you so much for being on the DealMakers show. To achieve this, they need to continue growing consumer awareness, increase seller liquidity (percentage of items that sell), and continue to emphasize ease of use and trust for all users.. We sell a ton of cars at OfferUp. 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. Alejandro: I understand that you guys have raised quite a bit of money for the business, too. So, obviously, part of the startup experience too. It wasnt to be great in search like other marketplaces are. Unsure about a selling price? Net Worth & Salary of Nick Hanauer in 2023. Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) Thats the focus on why we want shipping was not necessarily to build a new line of revenue for us, but again, to further remove friction in the process. The other half is how did you do the work. So, we got very intentional about that. The other one was the cameras would get better, and we could leverage that. I strongly believe OfferUp will surpass Craigslist and all other competitors as the go-to marketplace for the American consumer to buy and sell locally, said Josh Breinlinger, an OfferUp board member and managing director at Jackson Square Ventures, which led OfferUps Series A financing round. So, we found a handful of people that were willing to actually do that at that time. Vance Lile, a Vancouver, Washington resident, owns an antique reselling businesses that he uses as a second source of income. Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. If youre not intentional, culture is just going to take the form that its going to take for better or worse. 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. And, by the way, I never told the seller that I worked at OfferUp. 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. We started very early, way before Friendster, way before Myspace. We could leverage chat. Alejandro: What ended up being the business model of the business? Nick Huzar: Yeah. The other one is payments. And if you got any value either from this episode or from the show itself, share it with a friend. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. 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. Jonas formed a band with his older brothers, Joe, and Kevin, known as the Jonas Brothers. 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? 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. 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. This is going to take me a whole weekend just to post these items online yourself. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. The Investment Thesis: A Venture Capitalist Perspective. It was Driven, Neighborly, and Adaptable. 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. : Yeah, definitely. The first thing in my mind was not, Hey, theres something here. It was to explore, like more of the treasure hunt type of experience. He set up our entire first back-end system on AWS. I analyzed every way, everybody. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. Thats probably the biggest one. We didnt see any examples of what we were doing in a smartphone. We learned through that experience. 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. So, there were a series of different changes over a period of time to be explored. peggy gustafson barnett obituary; human causes of the millennium drought; robert hagg scouting report; competitive edge softball I cant exist without my computer. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. I think thats a great idea. He and I threw in $800 the first event. We were finding that theyre able to sell cars way faster by signing up for this program. Will His AI Plans Be Any Different? You can keep going as a company and think about how those things get shaped. Tell us about the turning page here, going into a new chapter. Alejandro: Very nice. Under Huzar, the Bellevue-based company reached a valuation of $1.4 billion as of 2018 and had over 56 million users in 2020, but Huzar said he hopes letting go of his CEO duties will give him . If youre not intentional, culture is just going to take the form that its going to take for better or worse. 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? Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. I have a trampoline that I purchased. So, Im sure he thinks what Im doing is a little crazy to him. We give them promotions and analytics. If you can leave a review as well, that would be fantastic. We started very early, way before Friendster, way before Myspace. It wasnt to be great in search like other marketplaces are. Lets check out Nick Huzar Net worth income salary 2021 report details which is given below. 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? She has made most of her net worth through her record sales as well as her music tours. Then once people are hired and we interview for the best, we have what we call our Operating Principles. 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. 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 . So, I have three kids bikes. 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. 10/10 Amanda Bynes- Estimated Net Worth $3 Million. Respondents feel that it is easier to donate than sell, citing the required time investment and amount of work. Nick Huzar, CEO of OfferUp at a Startup Grind event. As of February 2023, Nick Hanauer has an estimated net worth of more than $1.5 billion. Nick Huzar: I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. 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. We hired. We were finding that theyre able to sell cars way faster by signing up for this program. Nick Huzar: I had, of course, a ton of energy and excitement. 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. This has led me to seek answers to questions about how my very existence impacts our planet. How do you guys make money for the people that are listening? nick huzar net worth 2020. nick huzar net worth 2020. 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. This documentary-style series follows investigative journalists as they uncover the truth. Im happy to chat. 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. OfferUp is a national platform, but the goal is to buy and sell items within a users local community. He only had one job. I think thats a big part early on. Within a year, year and a half, I was loving the internet. Ultimately, they decided to close it down. I know that OfferUp was also a result of doing a pivot. As of March 2023,Nicki Minaj has an estimated net worth of over $100 million. 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? 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. Those are our overall what we look for in people before they even come into the halls of OfferUp. Will Others Follow? So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? So, were looking to grow not only our Seattle office, but we also have an office in Miami as well. : Definitely, you learned the sleeping on an air mattress and living in the office. Why? I can design things, and then I can cut them up, and I can make them interactive. Its not engineering for the sake of engineering. The only examples we could look to at the time were dating sites. Amazing. What would you say really made him such an amazing tech co-founder? Or, for BMX, we built their first-ever eCommerce website. How many employees do you guys have, Nick? I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. 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. Follow Zack on Twitter and read his columns in Forbes. I could design all the apps, but Im not a great back-end engineer at all. I just wanted them to believe it actually worked. We do a lot within the product to connect buyers to the right sellers.
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