Alejandro: So, originally born and raised in the Seattle area. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. Alejandro: Got it. We expect people to dive deep into things like that. 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. : Ive heard you talk about core values a few times and how that ties into culture. Id say our vision, as you think long-term, is really to help people to connect and prosper. It was Driven, Neighborly, and Adaptable. We said, Who are the people that are striving here, and why? You look at driven, for example. 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. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. Perhaps they will also appreciate it. Prior to OfferUp, Huzar worked at Microsoft and T-Mobile and founded several start-ups. We came up with those three because we looked around the company at the time. If you can leave a review as well, that would be fantastic. This documentary-style series follows investigative journalists as they uncover the truth. I was just a sponge. I just wanted them to believe it actually worked. 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. We only raised about $100,000 our first year, but we didnt have an office space. I think for anybody thats building a company, it feels good when you fill that role, and then 90 days later, you realize you made a huge mistake. 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? He has a small car collection also which . OfferUp is a national platform, but the goal is to buy and sell items within a users local community. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. Why is this problem existing? 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. An example of that is, can I take complex problems and distill them down? We were making more money doing that than we were in our day job. If you like the show, make sure that you hit that subscribe button. 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. Please subscribe to unlock this content. As of January 2023, The net worth of Nick is $2 million, and he earns $19K-$32K per video. I feel like I build things and sculpt things, and that works well for me. Theyre constantly in this process of bettering themselves. "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.". We give them promotions and analytics. Europe, Menlo Park, China), Where the person is located (e.g. I think it was good. 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. It was extremely expensive back then. What an amazing business that youve built with OfferUp. The shoes Im wearing are from OfferUp. We expect people to dive deep into things like that. How do you hire? (31) 3351-3382 | 3351-3272 | 3351-3141 | 3351-3371. location of blind frog ranch associe-se. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. They have too many, and theyre just on a wall, and no one really thinks about them. I had a blessed upbringing. So, were looking to grow not only our Seattle office, but we also have an office in Miami as well. Probably just not the best advisors and folks around the table. 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. Then he got the idea for. Why I definitely appreciate him is, he definitely thinks a lot like an engineer, but he also has a great business mind. 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. I go back to even reflecting on my own decisions. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. Why? 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? What are your core values at OfferUp? 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: Yeah, definitely. Thats interesting. We didnt see any examples of what we were doing in a smartphone. Opinions expressed by Forbes Contributors are their own. The hottest area in real estate is not commercial, is not residential; its actually storage. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. Im sure that all those experiences and lessons with Konnects you were able to apply them here. Nick Huzar Net Worth. In our case, we happen to have three to make it easy. 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. How do you guys make money for the people that are listening? What are your core values at OfferUp? He set that up. Alejandro: Got it. The shoes Im wearing are from OfferUp. They had a bunch of theme parks, but they had no online ticketing. Thats a nice, easy way to get ahold of me. Those are our overall what we look for in people before they even come into the halls of OfferUp. An example of that is, can I take complex problems and distill them down? 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. Product. I was fortunate to sit next to engineers who taught me how to code. He and I would sit down and rift on things quite a bit. But my wife and I moved into a good-sized house. 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If youre not intentional, culture is just going to take the form that its going to take for better or worse. : Very nice. This is just the consumer side of things, but I also started to spend time in local retail stores. Alejandro: Very cool. So, Im sure he thinks what Im doing is a little crazy to him. People were throwing money everywhere. That was the whole idea. 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. 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. We raised millions of dollars, mostly from angels. (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 need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Thats something I definitely advise people to not do just given how much I learned through that. If you can leave a review as well, that would be fantastic. So, we found a handful of people that were willing to actually do that at that time. In fact, short story, I took out a bunch of student loan debts to buy my first computer, which back then was $2,200. What if we can unlock all that value, but focusing on removing as much friction and bringing trust into that local experience? He is a founder that has done it multiple times. He was able to figure things out. He bagged this fortune because of his hard work and his excellent gaming skills. Unsure about a selling price? Greg Theer of Tacoma, Washington uses OfferUp to sell his unique clock and garden sculpture creations to help fund his sons college tuition. If youre not intentional, culture is just going to take the form that its going to take for better or worse. The founders furnished the companys headquarters with a Yoda statue and Stormtrooper suit that they purchased from the OfferUp app. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. Alejandro: And this led you in your 20s to your first company. That was a lot of work. Again, because were always focusing on removing friction. 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? 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. . 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. He only had one job. That was the idea behind it. Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. This is going to take me a whole weekend just to post these items online yourself. I would design. : Definitely, you learned the sleeping on an air mattress and living in the office. Thats a nice, easy way to get ahold of me. Nick Huzar: It was great. So, you can wrap a 77 square around every man, woman, and child in this country in storage space. Again, given my artistic bent, I taught myself Photoshop. 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. Amazing. I think thats another learning lesson Ive seen over the years where you have people that have these ideas, and they say, Im going to go do this. My response is, Okay. 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. Its also a lot of work. The first thing in my mind was not, Hey, theres something here. 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. So, we built the first online ticketing for them. There are plenty of things that you just dont sign up for that you have to address as somebody thats running a business, but I think of companies as the ultimate creative experience. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. I mentioned the stories of our origin; I still feel like were very much in the early days. 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 . 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. Between he and I, we were able to build the first website, the first mobile app. 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. So, that was some of the initial sketches that we did. I told her; I said, Look. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. meritain health timely filing limit 2020; larry davis obituary 2020; sharon perkins instagram; dave ramsey jobs remote; nick huzar net worth 2020 . Our homes are actually 30% larger than the 1950s, but were having less children. They have too many, and theyre just on a wall, and no one really thinks about them. OfferUp has a very visual interface so the quality of your photos can impact how many offers you receive. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). I think they were all great people in their own right, but for what we were trying to build, probably not. 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. Nick Huzar: Id say definitely the people. OfferUp is the largest mobile marketplace in the USA. I think were probably one of the top places in the country in terms of units. I know that OfferUp was also a result of doing a pivot. I was fortunate to sit next to engineers who taught me how to code. The other one is payments. I am excited to work with Nick, Arean and the team there to continue to usher in the era of mobile-driven local commerce.. So, there were a series of different changes over a period of time to be explored. 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. : By the way, he would hate it if I called him an engineer because he is definitely more than that. 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. 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. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. The other half is how did you do the work. 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. 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. Most recently, Nick Huzar was the co-founded of Konnects Inc. How was life growing up there? I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. He understands engineering is just enabling an outcome. Van Veelen. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Eine andere -Site. One is promotions, and thats simply helping sellers to be more successful. We have really good features like search alerts and things you can say that will notify people right away. How is your office laid out? Will Others Follow? Also. See How I Can Help You With Your Fundraising Efforts. We started very early, way before Friendster, way before Myspace. Im sure this was an incredible MBA experience for you in real life. He is becoming more successful day by day and will soon surpass his current net worth. I look forward to it. This is just the consumer side of things, but I also started to spend time in local retail stores. And if you got any value either from this episode or from the show itself, share it with a friend. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. He definitely did that, and I feel like I did that. 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). 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 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. Nick Huzar: During my Konnects experience? Or, for BMX, we built their first-ever eCommerce website. 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? Nick Huzar: In our case, we happen to have two different buckets. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. In fact, short story, I took out a bunch of student loan debts to buy my first computer, which back then was $2,200. 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. How much money have you guys raised to date that is probably disclosed? Again, because were always focusing on removing friction. The other one was the cameras would get better, and we could leverage that. 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. Nick Huzar: Thank you so much for having me. 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. 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 have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. Our homes are actually 30% larger than the 1950s, but were having less children. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. This is so creative. Like I said, in any small startup, thats got to be there. Nick Huzar is the Founder, President & Chief Product Officer and CEO at OfferUp. There were thousands of them. show. To give you an idea of scale, weve been installed about 90 million times. : So, originally born and raised in the Seattle area. : Thank you so much for having me. Ask Jeff Jordan, a general partner at Andreessen Horowitz (an OfferUp investor), the former president of PayPal and the former president and chief executive officer of OpenTable. I cant exist without my computer. 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?