So, we found a handful of people that were willing to actually do that at that time. We said, Who are the people that are striving here, and why? You look at driven, for example. 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. : Very cool. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. Im sure this was an incredible MBA experience for you in real life. Thats a nice, easy way to get ahold of me. We made a series of pivots. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. 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. 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. So, Im sure he thinks what Im doing is a little crazy to him. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. Weve always focused a lot on this excess of sellers and buyers and connecting them. If you look at annual adoption from our customers, were looking at over 44 million. See How I Can Help You With Your Fundraising Efforts. She is a rapper, singer, and songwriter from Trinidad & Tobago. Nick Huzar is presently founder, CEO of OfferUp with a mission to revolutionize how people buy and sell locally by providing the simplest and safest solution. Together, they oversee over 100 OfferUp employees. We started very early, way before Friendster, way before Myspace. 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. Musk Made a Mess at Twitter. Thats probably the biggest one. Its not engineering for the sake of engineering. 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. 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. It was more, Can you do the work? He understands engineering is just enabling an outcome. Little did we know social media was coming. You went to Washington State University, and you got involved with. That was the whole idea. Dont cut corners on that. : And this led you in your 20s to your first company. I could code that. 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. My parents threw me into a bunch of things as a kid. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. So, you get the green light, and what happened next? 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 I think thats a big part early on. We came up with those three because we looked around the company at the time. Nick Huzar, CEO of OfferUp at a Startup Grind event. What would you say really made him such an amazing tech co-founder? Its not engineering for the sake of engineering. Alejandro: Got it. He set up our entire first back-end system on AWS. 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. The boss, obviously, in your life. We give them promotions and analytics. The Investment Thesis: A Venture Capitalist Perspective. Alejandro: What ended up being the business model of the business? He did a lot of back-end database. Why is this problem existing? In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. I could design all the apps, but Im not a great back-end engineer at all. Vance Lile, a Vancouver, Washington resident, owns an antique reselling businesses that he uses as a second source of income. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. The other one was the cameras would get better, and we could leverage that. We were never going to beat and become something like a Facebook. They had a bunch of theme parks, but they had no online ticketing. We made a lot of mistakes hiring. We do a lot within the product to connect buyers to the right sellers. If you look at commerce in general in the U.S., about 85% of it is still not online today. What is in the retail store down the street, and why dont people know that those things exist in there. Nick Huzar: Yeah, definitely. This is a BETA experience. I was fortunate to sit next to engineers who taught me how to code. 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. Opinions expressed by Forbes Contributors are their own. I think that were going to really enjoy the guest that we have today. 10/10 Amanda Bynes- Estimated Net Worth $3 Million. Will His AI Plans Be Any Different? That would have just ended it for me. 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. 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. My parents threw me into a bunch of things as a kid. So, thats the time in history when I graduated. How did you develop that love for computers, too? He definitely did that, and I feel like I did that. I think I was making $27,000 a year back then. And, by the way, I never told the seller that I worked at OfferUp. We had this concept of why cant we just emulate that online? I think thats a great idea. He and I threw in $800 the first event. So, I have three kids bikes. Then, the shipping business, we take a little over 12% of transactions there, but that was a business we launched in 2018. In fact, this chair Im sitting inin my office is from OfferUp. 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. 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. : There we go. We hired. Probably just not the best advisors and folks around the table. So, thats the time in history when I graduated. 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]. Alejandro: Marketplaces are obviously a beast. But Id say the first year working there, there were about 25 people in that company. Weve always focused a lot on this excess of sellers and buyers and connecting them. Also. One is promotions, and thats simply helping sellers to be more successful. He has an estimated net worth of $15 million, which includes his luxurious home in Canberra, Australia. It was to explore, like more of the treasure hunt type of experience. 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. 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. (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.. Im sure this was an incredible MBA experience for you in real life. Perhaps they will also appreciate it. I cant exist without my computer. Thats equally as important. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. 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. We hired. Nick Huzar: I think businesses are about people, so when I think about it and when I think about the investors and the team. He and I would sit down and rift on things quite a bit. Nicki Minaj Net Worth. 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 Saban is the highest-paid college football coach in the world, and his salary matches his reputation . We were making more money doing that than we were in our day job. That helps them to sell things faster. That was a lot of work. Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. Twenty years later, the smart phone is the new digital disruptor and a major force in driving users from PC to mobile. At the time, I think we were the first app to do that. brooke posch wedding; cockatiel breeders nsw Men umschalten. If you want me to help you with your fundraising, just book a call. : Yeah, definitely. 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. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. We could make it a visual experience, this kind of geo-aware. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. OfferUp is hoping technology will simplify the sale process and enable users to monetize the cash hiding in their home. : In our case, we happen to have two different buckets. I just wanted them to believe it actually worked. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. With Nick Huzar leadership, Konnects growth exploded growing from 1,500 members to over 1 million within 18 months. Id say as hard as it is, the people are everything. Nick Huzar played a vital role in assisting the CEO with fundraising efforts which attracted over $6 million in investment. : 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. Nick Huzar: In our case, we happen to have two different buckets. He did a lot of back-end database. He was able to figure things out. I would design. 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? Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. He figured that out on his own. How much is Nick Kyrgios' Net Worth in 2022? 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. I think well continue to see a shift towards mobile, van Veelen said. So, thats one way to think about it. Im happy to chat. I told her; I said, Look. The founders furnished the companys headquarters with a Yoda statue and Stormtrooper suit that they purchased from the OfferUp app. Alejandro: Very nice. Today, we offer that via shipping. Follow Zack on Twitter and read his columns in Forbes. 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. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. If you want me to do your fundraising for you, click here. I can work with engineers, and tie into databases, and be functional. I had a blessed upbringing. Alejandro: Alrighty. 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. Please subscribe to unlock this content. 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. So, there were a series of different changes over a period of time to be explored. 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. Jonas formed a band with his older brothers, Joe, and Kevin, known as the Jonas Brothers. We learned through that experience. They have too many, and theyre just on a wall, and no one really thinks about them. The top unused items in our homes are clothes and shoes (67%), games and toys (34%), electronics (33%), jewelry and accessories (22%) and kitchen supplies (18%).
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