nick huzar net worth 2020

Nick Huzar: As I mentioned earlier, with some of the founding stories, Id say liquidity [28:19] is the number one metric that we spend a lot of time focusing on because we want to make sure that were creating the best experience for buyers and sellers. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea. Nick Huzar: What I love about building companies. : Got it. Nick Huzar Greater Seattle Area 2K followers 500+ connections Join to follow Articles by Nick Accomplishing One Of My 2021 Goals and Reflections As An Entrepreneur By Nick Huzar Jan 2, 2022. Nick Huzar: Currently, we have about 280, and we are actively hiring at the moment. How was life growing up there? I think Ive even learned that mistake early on at Konnects, but I think at OfferUp, we definitely made mistakes there too. 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. I told her; I said, Look. And, by the way, I never told the seller that I worked at OfferUp. When we could find engineers, we would pay them just a teeny bit, but wed compensate them more with ownership and stock in what we were building. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. We came up with those three because we looked around the company at the time. The latest stats around storage and commerce, Two of OfferUps most important Operating Principles, : Alrighty. I would build out the website. Okay, great. : When I left Konnect, I had no intention of leading another company. This is so creative. He was definitely that. That would have just ended it for me. He figured that out on his own. He did a lot of back-end database. Nick Huzar is CEO and Co-Founder of OfferUp. So, good stuff. Well continue to obsess over liquidity. 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. Bestselling Author, The Lemonade Life. Rather than specify a price, sellers can also list their item as not firm on price, which means buyers are able to chat and negotiate with sellers before deciding on a price. Alejandro: Got it. I had a room full of stuff. Ive been interviewing, but I also have this idea I want to run by you. The pitch, to be clear, had nothing to do with used goods, and it still doesnt to this day. As I move from work or wherever Im at, I just want to be able to open up the app and see and discover things that are all around me. Now, in terms of the business itself, how big is the platform, or can you talk to us about the number of employees or users that are using this so that people get a sense of the operation? Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. Amazing. Nick Huzar: Yeah. Its become a part of peoples daily lives that use it on an ongoing basis throughout the country. We would find that handful of engineers, and we would pay them. But Id say the first year working there, there were about 25 people in that company. He understands engineering is just enabling an outcome. He figured that out on his own. Nick Huzar facilitated the design and implementation of a completely new website as the company transitioned from Voicestream to T-Mobile. Today, you see a lot of apps that have this long, infinite scrolling pic list of pictures. We were never going to beat and become something like a Facebook. Nick Hanauer Net Worth. : So, you got the blessing from the boss-in-house. : I think businesses are about people, so when I think about it and when I think about the investors and the team. Buyers can then message sellers to meet, and then pay for items through the app or in person. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. Find out how former world number one professional tennis player, writer, and politician Ilie Nstase earned his net worth. I have a trampoline that I purchased. I mentioned the stories of our origin; I still feel like were very much in the early days. I knew I was passionate about computers. We hired. While consumer commerce continues to evolve in specific areas, its rare to have a company completely redefine the marketplace experience from start to finish. Nick Huzar is the co-founder and CEO of Offerup which provides an online and mobile C2C marketplace app for people to buy and sell electronics, furniture, and cars. Definitely, Im sure that creativity and how your mom pushed you in that regard, perhaps has had an incredible influence in your career. I cant exist without my computer. I could design all the apps, but Im not a great back-end engineer at all. (Source: Mary Meeker/KPCB, 2016 Internet Trends Report). I was fortunate to sit next to engineers who taught me how to code. I think the learning lesson was interesting because we realized that networking is valuable, but its also inefficient. We raised a little bit of money. Between he and I, we were able to build the first website, the first mobile app. Hello everyone, and welcome to the DealMakers show. (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.. In the first year, I think the hard part was, I had convinced a brilliant engineer that I worked with and connected to co-found OfferUp with me. 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. I dont think we even had core values or anything. We had been married, and we always wanted to have kids. You can literally use it for almost anything. Alejandro: Then, after this, you ended up leaving, and then the company ended up closing down. I think they were all great people in their own right, but for what we were trying to build, probably not. I look forward to it. Most days, I feel like I am playing with Legos. nick huzar net worth 2020 Our belief back then was everyone would have a smartphone, and now everyone will say, Well, duh! But that was one assumption. We expect people to dive deep into things like that. OfferUp is one the most exciting e-commerce companies I have come across in a long time, Levchin said in a statement last November. In fact, short story, I took out a bunch of student loan debts to buy my first computer, which back then was $2,200. This is just the consumer side of things, but I also started to spend time in local retail stores. OfferUp has more than doubled its employee count in the last year and is reportedly set to raise $120 million in a round that would give the. Our homes are actually 30% larger than the 1950s, but were having less children. Net Worth, Salary, House. Will Others Follow? : There we go. How many employees do you guys have, Nick? So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. At the time, I think we were the first app to do that. : I think so far, weve raised 260, and then we just announced this latest financing, and well be raising another 120 million. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has partnered in, Total number of current Jobs the person has, Total number of events the individual appeared in, Number of news articles that reference the Person, Founder, President & Chief Product Officer and CEO. Thats been the whole focal point of the business since Day One. Her salary is under review. You went to Washington State University, and you got involved with. Europe, Menlo Park, China), Where the person is located (e.g. What would you say was the most painful and the biggest lesson, at the same time, for you? For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. Nicholas Jerry Jonas is an American singer, songwriter, and actor from Dallas. Nick Viall is an actor, model, and television personality who is known for his starring role in the 21st season of ABC's The Bachelor. She has made most of her net worth through her record sales as well as her music tours. OfferUp is hoping technology will simplify the sale process and enable users to monetize the cash hiding in their home. From the tough moments, from the tough experiences is where we learn the most. Today, we offer that via shipping. There are two areas in which OfferUp generates revenue. How much is Nick Kyrgios' Net Worth in 2022? What are you going to go do? Im going to go hire people to build all this for me. My response is usually, Thats probably not going to work. If you just had the idea, you need to bring more to the table. 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. Nick Huzar oversaw the hiring of personnel, growing the team from 2 to 26 people. So without further ado, Id like to welcome our guest today, Nick Huzar, welcome to the show. Nick Huzar: While I was out of college, within that first year, the whole dot-com scene was happening, and it was big. Perhaps they will also appreciate it. Nick Huzar, CEO of OfferUp at a Startup Grind event. meritain health timely filing limit 2020; larry davis obituary 2020; sharon perkins instagram; dave ramsey jobs remote; nick huzar net worth 2020 . Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. I started to buy and sell things locally. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Pres/Chief Product Ofcr/Co-Founder, OfferUp Inc. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). Thats been a big part of it. The Investment Thesis: A Venture Capitalist Perspective. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. It was extremely expensive back then. Read More: Michael Joseph Jackson The First Son of King of Pop-Short Biography Awards and Nominations. Thats a growth mindset whether theyre at OfferUp or in their own lives, theyre not happy with the status quo. We were finding that theyre able to sell cars way faster by signing up for this program. Theres got to be a better way. You may opt-out by. Id say our vision, as you think long-term, is really to help people to connect and prosper. 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. So, that was some of the initial sketches that we did. Im sure that all those experiences and lessons with Konnects you were able to apply them here. Zack Friedman is the founder of Make Lemonade, a personal finance platform that offers free and unbiased financial advice, including to the over 40 million borrowers looking to manage,repayand save money on their student loans. I grew up in a suburb about 20 minutes south of Seattle. : Got it. I think were probably one of the top places in the country in terms of units. 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. Sometimes Nicholas goes by various nicknames including John N Huzar, Nicholas J Huzar, Nicholas John Huzar, Nick Huzar and Nick J Huzar. Again, because were always focusing on removing friction. The way we separated those out was intentional, where we came up with core values fairly early in our evolution, and what we didnt want to do is what I think a lot of companies do. Alejandro: There we go. They claim and aim to increase this amount further as time passes. Even though we have these amazing giant tech companies, we still think theres a huge opportunity in local, and thats going to be our focus and continue to be our focus. 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. I left, and I had a co-founder and an investor that ran it for another year. I was just a sponge. Perhaps they will also appreciate it. Thats probably the biggest one. Alejandro: Very nice. Particularly, the browsing experience when you first open up the app. What are your core values at OfferUp? Particularly, the browsing experience when you first open up the app. You add all these things up, and I kept thinking to myself, I think while there are existing solutions for this problem, I dont think theyre meeting the needs of people, clearly. You can literally use it for almost anything. So, we found a handful of people that were willing to actually do that at that time. He only had one job. What do you think? I said, Hey. We give them promotions and analytics. In fact, this chair Im sitting inin my office is from OfferUp. Earlier in his Career Nick held positions at T-Mobile and Microsoft. Alejandro: Got it. Sure, there are plenty of challenges. We do a lot within the product to connect buyers to the right sellers. How did venture capitalists view the investment opportunity? florence nightingale concept 2 via de boleto It was Driven, Neighborly, and Adaptable. 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. I had a mother who was a therapist, so I like to think Im a pretty good mix of both of my parents, which happens to, I think, be an advantage given what I work on. Then, also, the dot-com bubble hit, and everyone stopped sponsoring those events. I used to go to Goodwill stores, and Id realized the cars never stopped. Our homes are actually 30% larger than the 1950s, but were having less children. 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. In our case, we happen to have three to make it easy. Youve been at it now for quite a while with OfferUp and also what you did with your previous initiatives, like Konnects. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at, EP 199 Nick Huzar On Raising $380M To Build A Marketplace App That Is Used By 44 Million People, Bill Powers On Raising $500 Million To Improve Your Driving Behavior, Cap Table: Everything Entrepreneurs Need To Know, He Cofounded A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, Sacha Michaud On Cofounding A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, His Previous Business Is Worth $1 Billion And Now Raised $54 Million To Create A Cloud-Native Database Service, Nikita Shamgunov On Building A $1 Billion Business And Now Raising $54 Million To Create A Cloud-Native Database Service. What is in the retail store down the street, and why dont people know that those things exist in there. I had a wife that was working, and I had a daughter on the way. Alejandro: Marketplaces are obviously a beast. Nick Huzar: I had, of course, a ton of energy and excitement. The top unused items in our homes are clothes and shoes (67%), games and toys (34%), electronics (33%), jewelry and accessories (22%) and kitchen supplies (18%). Here are some pointers from OfferUp co-founder Arean van Veelen to maximize your profit: Who knows OfferUp may even buy one of your items for sale. I can design things, and then I can cut them up, and I can make them interactive. I know that OfferUp was also a result of doing a pivot. Youve got a job. Thats probably one of my biggest painful lessons from back then. He set that up. Van Veelen. Im happy to chat. Thats going to continue to evolve this year in a big way just to make it an even better buying experience for people. They have too many, and theyre just on a wall, and no one really thinks about them. Alejandro: Ive heard you talk about core values a few times and how that ties into culture. : I had, of course, a ton of energy and excitement. But Id say the first year working there, there were about 25 people in that company. 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. If you can leave a review as well, that would be fantastic. If you look at annual adoption from our customers, were looking at over 44 million. 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. She can also be seen posing for covers of several beauty magazines. There are plenty of things that you just dont sign up for that you have to address as somebody thats running a business, but I think of companies as the ultimate creative experience. 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. One is promotions, and thats simply helping sellers to be more successful. Why is this problem existing? So, there were a series of different changes over a period of time to be explored. This is going to take me a whole weekend just to post these items online yourself. It was extremely expensive back then. : What ended up being the business model of the business? 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. This is a BETA experience. I think well continue to see a shift towards mobile, van Veelen said. We made a series of pivots. Alejandro: Very nice, and very timely given the times that were living in. At the time, I think we were the first app to do that. 10/10 Amanda Bynes- Estimated Net Worth $3 Million. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. 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. So, were looking to grow not only our Seattle office, but we also have an office in Miami as well. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. He was definitely that. We were finding that theyre able to sell cars way faster by signing up for this program. Previous to OfferUp Nick cofounded Konnects raising $6M in capital, scaling to over 1M users within 18months. So, to jump into another startup was the last thing in my mind. We had SUN and Cisco sponsoring these events to the tune of $10,000 each, every month. So, Nick, for the folks that are listening, what is the best way for them to reach out and say hi? So, obviously, part of the startup experience too. Follow Zack on Twitter and read his columns in Forbes. We hired too quickly, and we didnt know what we wanted. : I understand that you guys have raised quite a bit of money for the business, too. The other one is payments. I think thats a big part early on. If you look at commerce in general in the U.S., about 85% of it is still not online today. : Then, after this, you ended up leaving, and then the company ended up closing down. The hottest area in real estate is not commercial, is not residential; its actually storage. You also are going to see a lot of big changes this year in our product. I came back to my wife after probably four-and-a-half months, at least, and she kept asking, When are you getting your job? One day, I said, You need to come home tomorrow. I think they were all great people in their own right, but for what we were trying to build, probably not. There he designed the original platform and directly managed the engineering and design teams in addition to his daily duties as the companys Chief Technology Officer. brooke posch wedding; cockatiel breeders nsw Men umschalten. I told her; I said, Look. Even though we have these amazing giant tech companies, we still think theres a huge opportunity in local, and thats going to be our focus and continue to be our focus. We said, Who are the people that are striving here, and why? You look at driven, for example. We had this concept of why cant we just emulate that online? If you like the show, make sure that you hit that subscribe button. Success is not a linear line. show. He definitely did that, and I feel like I did that. : Very cool. I had a wife that was working, and I had a daughter on the way. California Weighs $360,000 in Reparations to Eligible Black Residents. So, good stuff. 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. I had a mother who was a therapist, so I like to think Im a pretty good mix of both of my parents, which happens to, I think, be an advantage given what I work on. We sell a ton of cars at OfferUp. They had a bunch of theme parks, but they had no online ticketing. If you can imagine five guys sitting down in a room coding with just stuff everywhere, thats what our first office looked like. I was just a sponge. Net Worth: $250,000 - $499,999. If youre not intentional, culture is just going to take the form that its going to take for better or worse. Is that right? With her blessing, I decided to move forward and dedicate all my time to building up what is now OfferUp. I had a room full of stuff. The shoes Im wearing are from OfferUp. I need to have it. Alejandro: And this led you in your 20s to your first company. If you had the opportunity to go back in time, knowing what you know now, and give your younger self one piece of business advice before launching a company, what would that be and why knowing what you know now? In the first year, I think the hard part was, I had convinced a brilliant engineer that I worked with and connected to co-found OfferUp with me. One day, she said, Im pregnant. Im like, Im so excited! I go into dad mode, and I open up that door to this room that Im going to turn into her nursery, my soon-to-be daughters nursery. That was my first big venture out on my own raising money, building out a team, everything associated with building a company. Nick Huzar played a vital role in assisting the CEO with fundraising efforts which attracted over $6 million in investment. Unlike EBay, OfferUp currently does not charge sellers a listing fee or transaction fee. His name is Arean, and hes very talented, and I think in the first year, it was just he and I coding. Success is not a linear line. "We have been one of the most active investors in marketplace businesses around the world, and rarely have we seen the scale, liquidity, virality and growth that OfferUp has demonstrated in a market this big.". OfferUp also found that 46% of respondents find it difficult to meet their household expenses on time each month, and 50% have more than $1,000 in credit card debt. Thats something I definitely advise people to not do just given how much I learned through that. I know that OfferUp was also a result of doing a pivot. I think for anybody thats building a company, it feels good when you fill that role, and then 90 days later, you realize you made a huge mistake. Im sure this was an incredible MBA experience for you in real life. . Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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 xxxx@xxx.com + Full Profile Information + Social Network Profiles + See who you and Nick Huzar know in common Example: Nick Huzar , Elon Musk Please subscribe to unlock this content. : It was great. I would design. The first thing in my mind was not, Hey, theres something here. So, I have three kids bikes. : Yeah, definitely. Nick Huzar: When I left Konnect, I had no intention of leading another company. I think thats another learning lesson Ive seen over the years where you have people that have these ideas, and they say, Im going to go do this. My response is, Okay. Within a year, year and a half, I was loving the internet. Sure, there are plenty of challenges. Theyre constantly in this process of bettering themselves. Now, in terms of the business itself, how big is the platform, or can you talk to us about the number of employees or users that are using this so that people get a sense of the operation? Those are our overall what we look for in people before they even come into the halls of OfferUp. How do you guys make money for the people that are listening? How was life growing up there? New OfferUp CEO Aims To Grow Commercial Side Of Local Commerce Platform, COVID Creates A Sellers Market In reCommerce, OfferUp CEO: Reinventing Commerce One Local Seller At A Time, Online marketplace OfferUp raises $120M, acquires top competitor letgo, Mobile marketplace OfferUp adds Hold Offers feature as it battles Craigslist, eBay and Facebook, OfferUp launches new Autos section focused on buying and selling used cars, OfferUp Keys In On Used Car Market With the Launch of OfferUp Autos, OfferUp launches SafeTradeSpots.com in conjunction with AIM Group, OfferUp Expands Its Local Marketplace, Launches Nationwide Shipping. People were throwing money everywhere. The way we separated those out was intentional, where we came up with core values fairly early in our evolution, and what we didnt want to do is what I think a lot of companies do. OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. 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. 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. Thats been the whole focal point of the business since Day One. Tell us about the turning page here, going into a new chapter. So, thats the time in history when I graduated. Im sure that all those experiences and lessons with Konnects you were able to apply them here. 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. So, were looking to grow not only our Seattle office, but we also have an office in Miami as well. As youre looking back, and after the time with Konnects, Im sure you had a lot of time to reflect. There are two areas in which OfferUp generates revenue. We partner a lot with local car dealerships, and we help them to be more successful by integrating with their inventory management system. I think it was good. But if you peeled away the branding, you realized that under the hood, they all kind of functioned the same. As of March 2023, Nicki Minaj's net worth being estimated at $100 Million. For some people, thats not comfortable, so you need people that can zig and zag with the company as it scales. He set up our entire first back-end system on AWS. But, luckily, she was supportive, and I think shes always believed in me. The fast-forward, over the next year or so, we had done 30 of these. You went to Washington State University, and you got involved with business and computers. You can be the most brilliant person and work hard, but if you cant work with others, its just not going to work well. It was barely enough to eat and pay my rent. northern state university softball roster. Founded in 2011, the peer-to-peer commerce marketplace generated more transactions in less than five years than EBay North America had generated in its first 10 years. 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. This is so creative. I mentioned the stories of our origin; I still feel like were very much in the early days. Neighborly: we have a no asshole policy. We could make it a visual experience, this kind of geo-aware. I need to show you something. Basically, I had prepared a 12-slide pitch deck to pitch my wife on the idea.

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