In 2016 the company raised $130 million in funding, bringing the company's total funding to date to more than $221 million. As of September 2021, the company is said to have 20 million monthly active users and 260 employees. Īs of June 2021, OfferUp has been downloaded around 90 million times. The Letgo app in the United States was merged into the OfferUp app on August 31, 2020. On March 25, 2020, OfferUp announced they were acquiring rival Letgo. OfferUp's employee numbers have also experienced rapid growth, starting at 11 employees in 2015, growing to 67 in 2015, and 218 employees in January 2018. The top categories on the marketplace include toys, furniture, and cars. Overall, the company grew 166% between 20, according to Comscore, and generated more peer-to-peer transactions in the first five years thanĮBay North America in its first ten years. Īs of October 2017, the company is said to have 33 million users and saw an increase in transactions from $2.9 billion in 2015 to more than $14 billion in 2016. She also noted that the company's gross merchandise volume has grown at a faster pace than eBay at the same stage as the respective companies. Growth Īccording to Mary Meeker, a partner at Kleiner Perkins Caulfield & Byers, during her 2016 “Internet Trends” report, OfferUp saw the average daily time spent per user in the United States growing from 12 minutes per day in November 2014 to 25 minutes in June 2015, on par with Instagram and Snapchat, and more than Twitter and Pinterest. The company moved into a new office space in 2017 which was furnished only with items found on the platform. OfferUp is based out of Bellevue, Washington and is currently used in several major cities across the United States, with plans to expand internationally. OfferUp was in the Top 50 most downloaded free apps on Apple Appstore and Google Play and has been praised for being more user-friendly to list products on than sites like eBay. Since then, the company has become a large marketplace for buyers and sellers and was named one of "The 7 Most Innovative Startups in Seattle" by Inc. In 2015, OfferUp was named one of the Hottest Startups by Forbes, citing the company's explosive growth between funding rounds throughout the year, and was speculated to take over Craigslist's share of the C2C marketplace. OfferUp is a mobile-driven local marketplace that competes with companies such as eBay, Craigslist, and Facebook Marketplace. OfferUp was created in 2011 by Nick Huzar, former co-founder and CTO of Konnects, Inc., and Arean van Veelen. It was founded as a competitor to Craigslist, differentiating itself with mobile-friendly apps and user profiles with ratings. OfferUp is an online mobile-first C2C marketplace with an emphasis on in-person transactions.
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