EM Group Chat #136: Building & Scaling OfferUp With Nick Huzar

Recording of the Everything Marketplaces Group Chat #136 (7/25) with Nick Huzar, who's the Founder & former CEO of OfferUp. OfferUp is the largest mobile marketplace in the US for buying & selling items from others nearby. They've also raised over $380M+ in venture capital from top investors like a16z, Coatue Management, GGV Capital, and more. 0:06 Intro 1:17 Nick's background 3:34 The founding story for OfferUp 9:10 How OfferUp solved for the cold start problem & constrained initial markets 14:48 How OfferUp initially managed categories 16:09 An overview of OfferUp as the leading marketplace for buying & selling items from others nearby 19:28 How OfferUp built trust as a marketplace 23:16 The playbook that OfferUp has used for expansion as a hyperlocal marketplace 26:03 The OfferUp team & org structure 29:11 The fundraising journey & raising $380M+ from top investors 34:01 Group Q&A on how OfferUp initially acquired users & thought about defensibility 38:30 Group Q&A on the metrics to focus on when building an early stage marketplace 43:02 Group Q&A on capital efficiency 44:54 Parting advice Nick on LinkedIn: https://www.linkedin.com/in/nickhuzar OfferUp: https://www.offerup.com Join other marketplace founders & all of our group chats: http://www.everythingmarketplaces.com