Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. We made a series of pivots. Nick Huzar: Yeah. We could make it a visual experience, this kind of geo-aware. Im sure that all those experiences and lessons with Konnects you were able to apply them here. Tell us about the early days, and also how you incubated the concept of the idea. But Id say the first year working there, there were about 25 people in that company. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. I had a wife that was working, and I had a daughter on the way. 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. We raised a little bit of money. He has founded many companies which are doing very well. 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.. I had a wife that was working, and I had a daughter on the way. Nick Huzar's email & phone | OfferUp's Chief Executive Officer I had a father who worked at Boeing his whole life. I played every different sport you can imagine, so that meant I wasnt great in any one thing. Alejandro: Marketplaces are obviously a beast. Greg Theer of Tacoma, Washington uses OfferUp to sell his unique clock and garden sculpture creations to help fund his sons college tuition. We sell a ton of cars at OfferUp. Thats probably the biggest one. : I understand that you guys have raised quite a bit of money for the business, too. Alejandro: Definitely, you learned the sleeping on an air mattress and living in the office. 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. How did you develop that love for computers, too? Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. Today, we offer that via shipping. Net Worth & Salary of Nick Hanauer in 2023. What do you think? I said, Hey. Then once people are hired and we interview for the best, we have what we call our Operating Principles. Also. So, to jump into another startup was the last thing in my mind. Particularly, the browsing experience when you first open up the app. I think an important lesson for people that are building businesses: have an amazing significant other thats understanding because had she said no, we wouldnt be talking right now. Eine andere -Site. Buyers can then message sellers to meet, and then pay for items through the app or in person. I look forward to it. He was able to figure things out. 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 Viall is a $400 thousand net worth American actor, television personality, and model as of 2020. We only raised about $100,000 our first year, but we didnt have an office space. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. 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. : So, originally born and raised in the Seattle area. nick huzar net worth 2020. nick huzar net worth 2020. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. Great investments are built on a solid investment thesis. I look forward to it. I think I was making $27,000 a year back then. In our case, we happen to have three to make it easy. 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. From the tough moments, from the tough experiences is where we learn the most. They have too many, and theyre just on a wall, and no one really thinks about them. (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.. He was definitely that. 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. 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. As new fathers, they needed to sell their old belongings to make room for their newborns, but felt limited by the existing online options. Nick Huzar On Raising $380 Million To Build A Marketplace App That Is I mentioned the stories of our origin; I still feel like were very much in the early days. I came up with a logo. : There we go. So, good stuff. The boss, obviously, in your life. In fact, this chair Im sitting inin my office is from OfferUp. I would build out the website. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. 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 [email protected] + Full Profile Information + Social Network Profiles + See who you and Nick Huzar know in common Example: Nick Huzar , Elon Musk Nicki Minaj Net Worth 2023: Age, Height, Weight, Husband, Kids, Bio As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. Nick Jonas' Net Worth (Updated 2023) | Wealthy Gorilla I think it was good. : 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. Its become a part of peoples daily lives that use it on an ongoing basis throughout the country. Thats what we did for a while. I used to go to Goodwill stores, and Id realized the cars never stopped. 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. They are the two young entrepreneurs behind OfferUp, the mobile-driven local marketplace that is disrupting the way that we buy and sell merchandise. 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 has appeared in shows as well as advised some companies. 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. That is a combined net worth with his wife, model/actress Vanessa . 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. And I didnt tell my parents, and then my mom found out about it because they wouldnt buy me one. So, obviously, part of the startup experience too. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. 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. Conclusion OfferUp revenue model may have been complex to understand, but it is definitely an effective one. Nick Huzar: Thank you so much for having me. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. 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. Alejandro: Alrighty. Partner Investments Number of Partner Investments 1 Jobs Number of Current Jobs 1 Vance Lile, a Vancouver, Washington resident, owns an antique reselling businesses that he uses as a second source of income. In our case, we happen to have three to make it easy. So, thats one way to think about it. I need to have it. Id say our vision, as you think long-term, is really to help people to connect and prosper. The show takes listeners inside the business end of the sports world, and explains what it means to fans and their pocketbooks. It was Driven, Neighborly, and Adaptable. : Very nice. What would you say was the most painful and the biggest lesson, at the same time, for you? I think in any business, you have to bring more to the table than an idea, and you have to be able to contribute. 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. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. 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. OfferUp is hoping technology will simplify the sale process and enable users to monetize the cash hiding in their home. How was life growing up there? Why is this problem existing? 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. 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. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. NCERT Point | Celeberities Net Worth, Biography Wikipedia