Hello everyone, and welcome to the DealMakers show. Well, Nick, thank you so much for being on the DealMakers show. We hired too quickly, and we didnt know what we wanted. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. It was more, Can you do the work? show. Im sure this was an incredible MBA experience for you in real life. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? Nick Huzar: Thank you so much for having me. Alejandro: So, originally born and raised in the Seattle area. Bestselling Author, The Lemonade Life. What is in the retail store down the street, and why dont people know that those things exist in there. Then once people are hired and we interview for the best, we have what we call our Operating Principles. 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. He has a small car collection also which . 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. : It was great. I wont list them all, but thats everything from simplified. We expect people to dive deep into things like that. 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. He set that up. The pitch is, why is value sitting, and why is it sitting all around us, and why cant we see it. But, luckily, she was supportive, and I think shes always believed in me. Please subscribe to unlock this content. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. 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. I had a wife that was working, and I had a daughter on the way. We were never going to beat and become something like a Facebook. 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). OfferUp is one the most exciting e-commerce companies I have come across in a long time, Levchin said in a statement last November. Success is not a linear line. 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. We had a lot of great business minds on our board, but not tech-minded individuals, which created a challenge. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. 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. They have too many, and theyre just on a wall, and no one really thinks about them. I think that were going to really enjoy the guest that we have today. 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. You went to Washington State University, and you got involved with. Little did we know social media was coming. I think just given the fact that I had just come off of another startup, I had no income because I had just quit. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. What would you say was the most painful and the biggest lesson, at the same time, for you? The advent of the mobile revolution transformed the way in which people transact. In our case, we happen to have three to make it easy. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. He was definitely that. Tell us about the early days, and also how you incubated the concept of the idea. 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. : By the way, he would hate it if I called him an engineer because he is definitely more than that. I started to buy and sell things locally. 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. Thats something I definitely advise people to not do just given how much I learned through that. Why is it that way? Within a year, year and a half, I was loving the internet. We have markets like LA and Phoenix, for example, where over 18% of the adult population is now using OfferUp on a monthly basis. 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. Nick Eh 30 Net Worth. nick huzar net worth 2020. nick huzar net worth 2020. 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. How much money have you guys raised to date that is probably disclosed? Unsure about a selling price? He understands engineering is just enabling an outcome. Alejandro: Marketplaces are obviously a beast. 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. The founders furnished the companys headquarters with a Yoda statue and Stormtrooper suit that they purchased from the OfferUp app. Van Veelen sees the mobile trend continuing in 2017. Can I communicate succinctly? I look forward to it. I think I learned a lot of painful learning lessons from doing that. Today, we offer that via shipping. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. In our case, we happen to have three to make it easy. In March 2020, the company raised another $120 million through the acquisition of Letgo. I essentially told them, Look. : And this led you in your 20s to your first company. Thats equally as important. I didnt get halfway through it, and my wife said, This is the biggest idea youve ever had. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. Well continue to obsess over liquidity. 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? I think just given the fact that I had just come off of another startup, I had no income because I had just quit. As new fathers, they needed to sell their old belongings to make room for their newborns, but felt limited by the existing online options. This is so creative. I think were probably one of the top places in the country in terms of units. Van Veelen also worked at start-ups, including with Huzar at Konnects, a networking platform. Eine andere -Site. So, that was some of the initial sketches that we did. But my wife and I moved into a good-sized house. See How I Can Help You With Your Fundraising Efforts. I knew I was passionate about computers. : Very nice. Net Worth:$100 MillionAge:39Born:December 8, 1982Gender:FemaleHeight:1.57 m (5 ft 2 in)Country of Origin:Trinidad & TobagoSource of Wealth:Rapper/ActorLast Updated:August 2, 2022. Thats a nice, easy way to get ahold of me. In the last years, as we got more intentional about this, we say, Okay, every review cycle, half of your review is the overall performance in getting the work done. Theres got to be a better way. They have too many, and theyre just on a wall, and no one really thinks about them. The hottest area in real estate is not commercial, is not residential; its actually storage. How Does OfferUp Make Money? Nick Huzar Net Worth. Is that right? Will His AI Plans Be Any Different? 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. . 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: Got it. It was extremely expensive back then. I can work with engineers, and tie into databases, and be functional. If you look at commerce in general in the U.S., about 85% of it is still not online today. As a marketplace, OfferUp is not only positioned to help declutter your life, but it is also a monetization platform to convert unwanted items to extra cash. It was Driven, Neighborly, and Adaptable. Alejandro: So, you got the blessing from the boss-in-house. Ultimately, they decided to close it down. We raised millions of dollars, mostly from angels. 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. There are two areas in which OfferUp generates revenue. Nick Huzar: It was great. Her salary is under review. I analyzed every way, everybody. "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. To give you an idea of scale, weve been installed about 90 million times. You have a lot more exposure across the country. We only raised about $100,000 our first year, but we didnt have an office space. Great investments are built on a solid investment thesis. : So, originally born and raised in the Seattle area. In this technology shift, Huzar and van Veelen saw massive opportunity, particularly as Craigslist did not adapt to the new mobile paradigm. : I had, of course, a ton of energy and excitement. Again, you have to convince people why do they want to come along in this journey, this risk of this fun, proven idea? I started to buy and sell things locally. Its not engineering for the sake of engineering. And, by the way, I never told the seller that I worked at OfferUp. 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. What do you look for in culture? We have lots of information about Nicholas: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is unknown.
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