OfferUp

Mobile marketplace for local buying and selling

Bellevue, Washington, United States

About OfferUp

OfferUp operates a mobile marketplace that connects local buyers and sellers, allowing them to trade a variety of items such as furniture, electronics, and cars. The platform is user-friendly, enabling users to browse listings, check seller profiles, view ratings and transaction histories, and communicate securely to negotiate prices and arrange meetups. Unlike traditional marketplaces, OfferUp focuses on peer-to-peer transactions, eliminating intermediaries and fostering direct interactions between individuals. The company generates revenue through advertising, premium listings, and transaction fees, providing sellers with options to enhance their visibility. OfferUp's goal is to create a marketplace that adds value, connects people, and empowers communities, while promoting a strong sense of neighborly culture among its users.

Bellevue, WashingtonHeadquarters
2011Year Founded
$370.2MTotal Funding
LATE_VCCompany Stage
Consumer Software, Consumer GoodsIndustries
201-500Employees

Benefits

Health Insurance
401(k) Retirement Plan
401(k) Company Match
Unlimited Paid Time Off
Paid Vacation
Paid Sick Leave
Paid Holidays

Risks

Integration challenges with letgo may lead to technical issues.
22% headcount reduction could impact innovation and service levels.
Changes in U.S. tax policy may burden online sellers on OfferUp.

Differentiation

OfferUp integrates with letgo, expanding its user base and transaction volume.
The platform offers secure transactions with user profiles, ratings, and badges.
OfferUp's mobile-first approach simplifies local buying and selling for users.

Upsides

The recommerce market growth aligns with OfferUp's business model.
COVID-19 accelerates digital commerce, benefiting OfferUp's online marketplace.
$120 million funding round boosts OfferUp's expansion and platform enhancement.

Funding

Total raised$370.22 M
Latest valuation$1.40 B
StageLATE_VC
$120
$1.40 B
SERIES E
7/31/2018
$39
$1.20 B
$73
$365.00 M
SERIES B
2/28/2014
$16
$79.00 M
SERIES A
7/31/2013
$3
$14.00 M