While consumer commerce continues to evolve in specific areas, its rare to have a company completely redefine the marketplace experience from start to finish. 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. Tell us about the turning page here, going into a new chapter. Nick Huzar, CEO of OfferUp at a Startup Grind event. 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 blessed upbringing. Total Nick Huzar Net Worth in 2021 $1 Million - $5 Million (Approx.) How did venture capitalists view the investment opportunity? 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? But, luckily, she was supportive, and I think shes always believed in me. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. Alejandro: Marketplaces are obviously a beast. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. He began acting in theater at the age of 7 and released his debut single in 2002. If you look at annual adoption from our customers, were looking at over 44 million. I grew up in a suburb about 20 minutes south of Seattle. So, I have three kids bikes. So, Im sure he thinks what Im doing is a little crazy to him. Van Veelen sees the mobile trend continuing in 2017. How was life growing up there? Alejandro: So, you got the blessing from the boss-in-house. How much money have you guys raised to date that is probably disclosed? An example of that is, can I take complex problems and distill them down? Sure, there are plenty of challenges. Nick Huzar: Yeah, definitely. : 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. He understands engineering is just enabling an outcome. 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. We expect people to dive deep into things like that. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. I think were probably one of the top places in the country in terms of units. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. 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. 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. You went to Washington State University, and you got involved with business and computers. From the tough moments, from the tough experiences is where we learn the most. . Then he got the idea for. Is that right? I can design things, and then I can cut them up, and I can make them interactive. 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. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. Thats a nice, easy way to get ahold of me. 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. 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. 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. We had been married, and we always wanted to have kids. But there are other dimensions to that. I told her; I said, Look. Together, they oversee over 100 OfferUp employees. I think I learned a lot of painful learning lessons from doing that. Well, Nick, thank you so much for being on the, If you like the show, make sure that you hit that subscribe button. 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 fast-forward, over the next year or so, we had done 30 of these. Why? At the time, I think we were the first app to do that. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. He set that up. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? Im happy to chat. Conclusion OfferUp revenue model may have been complex to understand, but it is definitely an effective one. He was definitely that. We give them promotions and analytics. I just wanted them to believe it actually worked. Those are our overall what we look for in people before they even come into the halls of OfferUp. So, you get the green light, and what happened next? It was to explore, like more of the treasure hunt type of experience. I go back to even reflecting on my own decisions. That would have just ended it for me. 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. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). I need to have it. It was extremely expensive back then. Nick Huzar (@nickhuzar) March 25, 2020. 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. Nick Huzar played a vital role in assisting the CEO with fundraising efforts which attracted over $6 million in investment. Those are our overall what we look for in people before they even come into the halls of OfferUp. Id say a good healthy portion of my house, probably over half of my house are things I bought from OfferUp. "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.". Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. Alejandro: Very nice. 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. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? 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? Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. I think that also ties nicely into culture and the intention about that. 2022.7.1; prince of wales hospital hong kong address; Tweet; Share +1; Hatena; RSS . The other one was the cameras would get better, and we could leverage that. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. Perhaps they will also appreciate it. 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. He only had one job. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. He set up our entire first back-end system on AWS. 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. We were not paying ourselves. So, we found a handful of people that were willing to actually do that at that time. Alejandro: Very cool. nick huzar net worth 2020 Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. 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. . Its also a lot of work. Okay, great. You can literally use it for almost anything. Or, for BMX, we built their first-ever eCommerce website. I look forward to it. 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. Again, were only in the United States. Amazing. : So, you got the blessing from the boss-in-house. I would design. 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]. They had a bunch of theme parks, but they had no online ticketing. Lets check out Nick Huzar Net worth income salary 2021 report details which is given below. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. If you can leave a review as well, that would be fantastic. We would find that handful of engineers, and we would pay them. 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 raised a little bit of money. We didnt see any examples of what we were doing in a smartphone. I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. One is core values, and the other is operating principles. The only examples we could look to at the time were dating sites. Alejandro: There we go. This is just the consumer side of things, but I also started to spend time in local retail stores. I mentioned the stories of our origin; I still feel like were very much in the early days. 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. What is in the retail store down the street, and why dont people know that those things exist in there. : I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. I think thats a great idea. He and I threw in $800 the first event. : Marketplaces are obviously a beast. 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? 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. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. 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. 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. You can literally use it for almost anything. Why is this problem existing? 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. People were throwing money everywhere. I have a trampoline that I purchased. Thats interesting. 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. 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 . 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. Greg Theer of Tacoma, Washington uses OfferUp to sell his unique clock and garden sculpture creations to help fund his sons college tuition. Why is it that way? My wife is also my boss. That helps them to sell things faster. 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. Nick Huzar Net Worth. Nick Huzar: Thanks for having me. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. Nick Huzar: What I love about building companies. I think you need to do it. As soon as she gave me the blessing, I completely stopped interviewing, and I went all-in on OfferUp. The boss, obviously, in your life. We were making more money doing that than we were in our day job. For years, Craigslist has been the go-to website to buy and sell used items online. In our case, we happen to have three to make it easy. He has an estimated net worth of $15 million, which includes his luxurious home in Canberra, Australia. He coded our first Android app in the summer, all by himself. The second promotional area is our auto business. We have lots of information about Nicholas: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is unknown. Nick Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. 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. Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. Just enter your email below. Respondents feel that it is easier to donate than sell, citing the required time investment and amount of work. Nick Huzar: When I left Konnect, I had no intention of leading another company. I just wanted them to believe it actually worked. The second promotional area is our auto business. : Today, years and years later, we try to figure out how can we help buyers and sellers be more successful? We do a lot within the product to connect buyers to the right sellers. Hes seen the ups, the downs, and obviously, now, hes seen a lot of traction. He set that up. With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. I told her; I said, Look. florence nightingale concept 2 via de boleto : I understand that you guys have raised quite a bit of money for the business, too. meritain health timely filing limit 2020; larry davis obituary 2020; sharon perkins instagram; dave ramsey jobs remote; nick huzar net worth 2020 . Nick Eh 30 Net Worth. We had this concept of why cant we just emulate that online? Its also a lot of work. We have really good features like search alerts and things you can say that will notify people right away. This is just the consumer side of things, but I also started to spend time in local retail stores. . Youve got a job. Thats probably one of my biggest painful lessons from back then. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? I think just given the fact that I had just come off of another startup, I had no income because I had just quit. : By the way, he would hate it if I called him an engineer because he is definitely more than that. He only had one job. I would build out the website. OfferUp is the largest mobile marketplace in the USA. The first year, thats what we did. If you can leave a review as well, that would be fantastic. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. Vance Lile, a Vancouver, Washington resident, owns an antique reselling businesses that he uses as a second source of income. 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? So, thats the time in history when I graduated. Success is not a linear line. I need to have it. But, luckily, she was supportive, and I think shes always believed in me. How did you develop that love for computers, too? : Very nice, and very timely given the times that were living in. Again, because were always focusing on removing friction. They claim and aim to increase this amount further as time passes. I knew I was passionate about computers. Also. So, there were a series of different changes over a period of time to be explored. Alejandro: Got it. 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. Hello everyone, and welcome to the. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? The first thing in my mind was not, Hey, theres something here. We only raised about $100,000 our first year, but we didnt have an office space. I go back to even reflecting on my own decisions. What would you say really made him such an amazing tech co-founder? Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. He figured that out on his own. I think thats a great idea. He and I threw in $800 the first event. They had a bunch of theme parks, but they had no online ticketing. 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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 . Its not just up and to the right. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. 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. is the queen taller than the king in chess; all inclusive wedding venues under $5,000; david meade obituary He is a founder that has done it multiple times. I essentially told them, Look. I know that OfferUp was also a result of doing a pivot. Van Veelen also worked at start-ups, including with Huzar at Konnects, a networking platform. And if you got any value either from this episode or from the show itself, share it with a friend. The boss, obviously, in your life. He definitely did that, and I feel like I did 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. I think it was good. Thats probably the biggest one. 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. Nick Huzar Net Worth. : I had, of course, a ton of energy and excitement. There are two areas in which OfferUp generates revenue. You also are going to see a lot of big changes this year in our product. How many employees do you guys have, Nick? 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. 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. I designed the app. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. I think that were going to really enjoy the guest that we have today. We give them promotions and analytics. The fast-forward, over the next year or so, we had done 30 of these. So, that was some of the initial sketches that we did. 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. Where do you hire? Im sure that all those experiences and lessons with Konnects you were able to apply them here. 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. There were thousands of them. He was definitely that. You also are going to see a lot of big changes this year in our product. 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. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. We said, Who are the people that are striving here, and why? You look at driven, for example. I look forward to it. We started very early, way before Friendster, way before Myspace. The other one is payments. Success is not a linear line. My wife is also my boss. It was barely enough to eat and pay my rent. Earlier in his Career Nick held positions at T-Mobile and Microsoft. With Nick Huzar leadership, Konnects growth exploded growing from 1,500 members to over 1 million within 18 months. OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. 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 Thats been the whole focal point of the business since Day One. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. In this case, it led you to where you are today. The hottest area in real estate is not commercial, is not residential; its actually storage. So, we built the first online ticketing for them. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp.
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