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There were thousands of them. : By the way, he would hate it if I called him an engineer because he is definitely more than that. So, we found a handful of people that were willing to actually do that at that time. 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. I had a room full of stuff. He and I would sit down and rift on things quite a bit. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? 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. I think I learned a lot of painful learning lessons from doing that. We were not paying ourselves. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. Nick Huzar, CEO of OfferUp at a Startup Grind event. Nick Huzar: In our case, we happen to have two different buckets. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. 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. They claim and aim to increase this amount further as time passes. I am excited to work with Nick, Arean and the team there to continue to usher in the era of mobile-driven local commerce.. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. I essentially told them, Look. 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. I just wanted them to believe it actually worked. Nick Hanauer Net Worth. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. In this case, it led you to where you are today. He definitely did that, and I feel like I did that. It was to explore, like more of the treasure hunt type of experience. What is in the retail store down the street, and why dont people know that those things exist in there. 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. 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. If you can leave a review as well, that would be fantastic. If you can leave a review as well, that would be fantastic. You went to Washington State University, and you got involved with. 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 dont have to send out our phone numbers and our emails anymore, and we can make it much more secure. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. 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. Why? Neighborly: we have a no asshole policy. I mentioned the stories of our origin; I still feel like were very much in the early days. Within a year, year and a half, I was loving the internet. 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. Well, Nick, thank you so much for being on the, If you like the show, make sure that you hit that subscribe button. He did a lot of back-end database. 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. This is so creative. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. We had a lot of great. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. : Yeah, definitely. Theyre constantly in this process of bettering themselves. : In our case, we happen to have two different buckets. He understands engineering is just enabling an outcome. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. Tell us about the early days, and also how you incubated the concept of the idea. I think they were all great people in their own right, but for what we were trying to build, probably not. 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. 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. 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. The company has raised $380 million from top tier investors such as Andreessen Horowitz, GGV Capital, Tiger Global Management, Warburg Pincus, T. Rowe Price, and Allen & Company to name a few. Bestselling Author, The Lemonade Life. Or, for BMX, we built their first-ever eCommerce website. Thats what we did for a while. 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. 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. 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. 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. 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. Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. Alejandro: Marketplaces are obviously a beast. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. So, obviously, part of the startup experience too. 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. Thats probably the biggest one. Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. I knew I was passionate about computers. I told her; I said, Look. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. Theres got to be a better way. 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 came up with a logo. I think I was making $27,000 a year back then. Nick Huzar: Yeah. Again, because were always focusing on removing friction. Alejandro: Ive heard you talk about core values a few times and how that ties into culture. It was event networking, but this led to your real first experience, which was Konnects Inc. Tell us about this. You also are going to see a lot of big changes this year in our product. "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. Again, were only in the United States. The first thing in my mind was not, Hey, theres something here. I think I knew, right out of the gate, what I wanted to do with my life, which was something involved with the internet. We expect people to dive deep into things like that. : 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. If you look at commerce in general in the U.S., about 85% of it is still not online today. In this case, it led you to where you are today. Divided Government And The Way Forward For The Markets, How Negativity Bias Leads To Mistakes In Portfolios, Transforming The Wealth Management Experience For Todays Client, MoneyStamps Of South America - As Investments, Theyre Different Part 1, Covid-19 Related Municipal Defaults Begin, The Dynamics Of Price Discovery In The Stamp Market. You have a lot more exposure across the country. We raised a little bit of money. There are two areas in which OfferUp generates revenue. So, we found a handful of people that were willing to actually do that at that time. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. He coded our first Android app in the summer, all by himself. California Weighs $360,000 in Reparations to Eligible Black Residents. Get a custom action plan and all the help that you need to start raising more capital. Im sure that all those experiences and lessons with Konnects you were able to apply them here. 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. Or, diving deep. He was able to figure things out. We had this concept of why cant we just emulate that online? 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. Huzar, 39, serves as chief executive officer and van Veelen, 43, is chief technology officer. We expect people to dive deep into things like that. We came up with those three because we looked around the company at the time. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. 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. I know that OfferUp was also a result of doing a pivot. 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. Thats interesting. 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. 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. Its also a lot of work. If you look at annual adoption from our customers, were looking at over 44 million. I left, and I had a co-founder and an investor that ran it for another year. Nick Huzar: Id say definitely the people. They had a bunch of theme parks, but they had no online ticketing. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. Nick Huzar: It was great. People were throwing money everywhere. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. That was the idea behind 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. Alejandro: Very nice. He was definitely that. But, luckily, she was supportive, and I think shes always believed in me. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. It was extremely expensive back then. I was just a sponge. I think I learned a lot of painful learning lessons from doing that. I was just a sponge. Thats equally as important. They have too many, and theyre just on a wall, and no one really thinks about them. The fast-forward, over the next year or so, we had done 30 of these. Why is it that way? I had a room full of stuff. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? Again, given my artistic bent, I taught myself Photoshop. If you like the show, make sure that you hit that subscribe button. Musk Made a Mess at Twitter. Earlier in his Career Nick held positions at T-Mobile and Microsoft. 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%). His main source of income is his career as an entrepreneur. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. How do you guys make money for the people that are listening? 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 think thats a great idea. He and I threw in $800 the first event. What would you say was the most painful and the biggest lesson, at the same time, for you? He began acting in theater at the age of 7 and released his debut single in 2002. 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). We made a series of pivots. I mentioned the stories of our origin; I still feel like were very much in the early days. Thats something I definitely advise people to not do just given how much I learned through that. It wasnt to be great in search like other marketplaces are. Thats probably the biggest one. 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. I'm Nick Huzar, the cofounder of OfferUp, the largest local mobile marketplace in the U.S. On a monthly basis, I would watch billions of dollars worth of second hand goods exchange hands through the marketplace we started over a decade ago in 2011. Net Worth & Salary of Nick Hanauer in 2023. We said, Who are the people that are striving here, and why? You look at driven, for example. Product. One is promotions, and thats simply helping sellers to be more successful. The only examples we could look to at the time were dating sites. Our homes are actually 30% larger than the 1950s, but were having less children. (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.. Nick Huzar: I had, of course, a ton of energy and excitement. Alejandro: Definitely, you learned the sleeping on an air mattress and living in the office. I started to buy and sell things locally. I was leading projects for Paramount Parks. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. Between he and I, we were able to build the first website, the first mobile app. 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. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. 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 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. 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. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like.