OfferUp

OfferUp

Mobile marketplace for local buying and selling

About OfferUp

Simplify's Rating
Why OfferUp is rated
C+
Rated C on Competitive Edge
Rated A on Growth Potential
Rated D+ on Rating Differentiation

Industries

Consumer Software

Consumer Goods

Company Size

201-500

Company Stage

Late Stage VC

Total Funding

$370.2M

Headquarters

Bellevue, Washington

Founded

2011

Overview

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 many competitors, 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, neighborly culture among its users.

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Simplify's Take

What believers are saying

  • Integration with letgo increases user base and transaction volume.
  • Recommerce trend aligns with OfferUp's model, driving more users post-COVID.
  • $120 million funding boosts technology and marketing investments.

What critics are saying

  • Integration challenges with letgo may cause technical issues.
  • 22% headcount reduction could affect operational efficiency and morale.
  • U.S. tax policy changes may deter online sellers from using OfferUp.

What makes OfferUp unique

  • OfferUp integrates with letgo, creating a larger, unified marketplace.
  • The platform focuses on local, peer-to-peer transactions, enhancing community engagement.
  • OfferUp offers secure transactions, building trust among users.

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Funding

Total Funding

$370.2M

Above

Industry Average

Funded Over

6 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Health Insurance

401(k) Retirement Plan

401(k) Company Match

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Paid Holidays

Growth & Insights and Company News

Headcount

6 month growth

4%

1 year growth

3%

2 year growth

4%
GeekWire
Dec 11th, 2024
Offerup Cuts 22% Of Headcount As It Aims To Expand Beyond Used Goods — Read Ceo’S Memo To Staff

OfferUp CEO Todd Dunlap. (OfferUp Photo)OfferUp, the Seattle-area company behind a popular used goods marketplace, is cutting 22% of its headcount in a bid to remain profitable as it looks to expand into new product lines.In a memo to staff, which you can read in full below, OfferUp CEO Todd Dunlap cited macroeconomic trends such as programmatic ad rates that affected some of the company’s revenue lines.“While we still have plenty of cash on our balance sheet, it’s important in these times to remain profitable,” he wrote.The company did not disclose the number of employees affected by the layoffs. OfferUp has nearly 500 employees, according to LinkedIn.Affected employees will receive severance and health benefits through the end of February. The company is providing career transition and job placement services.Founded in 2011, OfferUp competes against Craigslist, eBay, Facebook and other marketplaces where users buy and sell goods. The company says it facilitates 30 million transactions on its platform annually and is currently ranked No. 3 on the GeekWire 200, our index of Pacific Northwest startups

GeekWire
Nov 25th, 2022
Marketplace Companies Say Change In Tax Policy Creates Unnecessary Burden For Online Sellers

(GeekWire Illustration). When Dan Marx helped launch a new startup this summer, he pictured himself having to learn more about bicycles and their parts than anything related to U.S. tax policy. But in the first few months of BikeList, a peer-to-peer marketplace for bike sellers and buyers, the tech veteran is getting a crash course in taxes, politics and more

PYMNTS
Aug 31st, 2020
OfferUp Integrates With letgo, Combines Marketplace Apps

Recommerce marketplace OfferUp has integrated with similar app letgo and will combine its app with the letgo app for a new marketplace promising an increased amount of deals and more access to buyers and sellers, according to a press release emailed to PYMNTS.

SalesTechStar
Aug 31st, 2020
OfferUp and letgo Combine and Release New App That Brings Together Millions of Buyers and Sellers into One Marketplace

Today, OfferUp announced that it has combined the OfferUp and letgo marketplaces into one with the new OfferUp & letgo app

The Algemeiner
Jul 3rd, 2020
Online Marketplaces Must Do More to Tackle Antisemitism

Adolf Hitler giving a Nazi salute. Photo: Wikimedia Commons. Despite the societal changes sparked by the ongoing anti-racism protests, mounting …

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