OfferUp Raises $120M, Acquires Letgo; OLX Group to Own 40% of Combined Entity

OfferUp raised $120 million and agreed to acquire rival app Letgo, creating a combined U.S. marketplace with over 20 million monthly active users; OLX Group led the round and will own 40% of the merged company. OfferUp CEO Nick Huzar will lead the combined business, while Letgo's non‑North American operations will remain with OLX.

NNick Huzar OOfferUp