OfferUp is a platform that aims to change how people buy and sell items. With a single snap, users can take a photo of an item and instantly circulate it to friends, followers, people nearby, people of similar interests, and local groups. With OfferUp, users can choose to know who they are dealing with, reduce the no-shows, and minimize the hassles of buying and selling.
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Research containing OfferUp
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CB Insights Intelligence Analysts have mentioned OfferUp in 2 CB Insights research briefs, most recently on Oct 13, 2022.
Expert Collections containing OfferUp
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
OfferUp is included in 3 Expert Collections, including E-Commerce.
Tech IPO Pipeline
A16Z Marketplace 100 (2021)
The a16z Marketplace 100 is a ranking of the largest consumer-facing marketplace startups and private companies created by venture firm, Andreessen Horowitz.
OfferUp has filed 1 patent.
Payment systems, Payment service providers, Commerce websites, Online payments, Banking technology
Payment systems, Payment service providers, Commerce websites, Online payments, Banking technology
Latest OfferUp News
Nov 15, 2022
(OfferUp Images) Bellevue, Wash.-based mobile marketplace operator OfferUp is laying off about 19% of its staff, joining a growing list of tech companies slashing costs amid a shaky economy. “We grew headcount rapidly over the past few years — at a rate that outpaced revenue growth,” OfferUp CEO Todd Dunlap wrote in an email to employees Tuesday. OfferUp did not provide details on total headcount. The company has just shy of 500 employees listed on LinkedIn. Nearly 800 tech companies have laid off workers in 2022, including many with a presence in the Pacific Northwest . Amazon is reportedly laying off 10,000 corporate and tech jobs; Seattle-area startups such as Convoy and Flyhomes also recently announced cuts. OfferUp still had “multiple years of runway” before deciding to cut staff, Dunlap wrote in the memo. But OfferUp is not hitting its revenue growth projections for 2022 and leadership concluded that “our current cost structure is preventing us from achieving our goals.” Dunlap, a former leader at Microsoft and Booking.com, took the CEO reins at OfferUp last year. He replaced founder Nick Huzar , who remains at the company as a board director. Founded in 2011, OfferUp competes against Craigslist, eBay, Facebook and other marketplaces where users buy and sell goods. The company has 56 million buyers and sellers on its platform and is currently ranked No. 6 on the GeekWire 200 , our index of Pacific Northwest startups. OfferUp raised $120 million in March 2020 and acquired rival Letgo. The company is among an elite group of Seattle-area unicorns with a valuation of more than $1 billion. Earlier this year OfferUp added job listings with the launch of OfferUp Jobs in the company’s mobile app. Read Dunlap’s full memo below: OfferUp Team: Today is a difficult day for OfferUp and its employees, as I just met with some of our friends and colleagues to let them know that they are leaving OfferUp. This was a tough decision and it will have significant impacts on the people who are leaving, those who are staying, and the Company, so I wanted to take a few minutes to share with you the reasons for the decision and why I think it is necessary for OfferUp’s long-term success. Before I talk about the future, I want to acknowledge our colleagues who are leaving. They are valued contributors to OfferUp who had the misfortune to be in roles that are not required for our 2023 plans. We will miss them and I encourage you to reach out to them. I want you to know that we are doing everything we can to ease this transition. For those who are leaving today, we are offering: Severance – We wanted our colleagues to have pay through the holidays and into the new year, so all departing employees will receive at least 8 weeks of pay. Healthcare – To lessen the burden of healthcare costs, we will cover the employee portion of COBRA through January 2023. Outplacement Services – To help our departing colleagues transition into new roles, all of them will have access to career services through a company that specializes in career transition and job placement services. Stock Options – To give everyone a better opportunity to share in our future success, we are asking the Board to approve an extension of the expiration of departing employees’ vested stock options from the standard 3 months to 12 months. Laptops – In an effort to empower people to find their next job, we are allowing everyone to keep their OfferUp-issued computers at no cost. We wish our colleagues well and we hope to cross paths with them again in the future. Please join me in thanking them for their contributions to OfferUp. Now I’d like to talk about how we came to this decision. Many other companies at our stage are currently laying off employees and cutting costs because they face the possibility of going out of business if they don’t. Fortunately, we are not in that position and had multiple years of runway before the changes today. Having a stronger financial position is a benefit, but it can also allow leadership to avoid hard choices that are necessary. We grew headcount rapidly over the past few years – at a rate that outpaced revenue growth. I had hoped that our 2022 operating plan would generate enough revenue growth to allow us to grow into our current cost structure. However, by mid-year, it became clear that we would miss our revenue growth projections. The management team and the Board had a number of strategic discussions, both internally and with advisors, about how to proceed. These conversations always ended with the same conclusion – our current cost structure is preventing us from achieving our goals. We have built a large and active marketplace that serves tens of millions of users every month, but we’re not yet at a revenue scale that allows us to thrive without continued growth. At our stage, we need to demonstrate at least 2 or 3 of the following factors: Significant user growth,
OfferUp Web Traffic
OfferUp Frequently Asked Questions (FAQ)
When was OfferUp founded?
OfferUp was founded in 2011.
Where is OfferUp's headquarters?
OfferUp's headquarters is located at 1715 114th Avenue SE, Bellevue.
What is OfferUp's latest funding round?
OfferUp's latest funding round is Series F.
How much did OfferUp raise?
OfferUp raised a total of $675.33M.
Who are the investors of OfferUp?
Investors of OfferUp include Andreessen Horowitz, Warburg Pincus, OLX Group, Jackson Square Ventures, GGV Capital and 11 more.
Who are OfferUp's competitors?
Competitors of OfferUp include Avito and 7 more.
Compare OfferUp to Competitors
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