OfferUp Revenue, Valuation, Funding & Investors

OfferUp is valued at $1.4B as of March 2020, a 14.0x revenue multiple. OfferUp revenue was $100M, as disclosed with its latest round.

Last OfferUp valuation

$1.4B

Undisclosed stage · Mar 2020

Last OfferUp funding round

$120M

Undisclosed stage · Mar 2020

OfferUp revenue

$100M

Undisclosed stage · Mar 2020

Key investors in OfferUp

  • Andreessen Horowitz
  • GGV Capital
  • Warburg Pincus
  • T. Rowe Price
  • Third Kind Venture Capital
  • Jackson Square Ventures

OfferUp Overview

About OfferUp

OfferUp is a mobile marketplace app facilitating peer-to-peer sales of local items including vehicles, furniture, and electronics. Headquartered in Bellevue, Washington, it allows postings to nearby users, interest-based groups, and integration with Craigslist. Features support shipping nationwide via partnerships with Keeta for payments. Following the 2020 acquisition of Letgo, the platform operates in the United States and Canada, with tools for secure messaging and offer negotiations.


Founded

2011

HQ

United StatesSeattle, WA

Status

Privately held

Customer focus

B2C

Revenue model

Commission, Advertising

Revenue

$100M (Mar 2020)

Valuation

$1.4B (Mar 2020)

OfferUp Valuation

OfferUp is currently valued at $1.4B, based on its undisclosed-stage round in March 2020. Read the announcement ↗

The $120M round was led by Pobts, with participation from OLX Group, Andreessen Horowitz and Warburg Pincus.

OfferUp's valuation has grown 127x from $11M at its Series A in August 2013 to $1.4B in March 2020, across 4 priced rounds.

OfferUp valuation by funding round

Revenue multiple
OfferUp valuation by funding round
DateStageValuationRevenue Multiple
Mar 2020Undisclosed stage$1.4B14.0x
Sep 2016Series C$1B-
Mar 2015Series C$500M-
Aug 2013Series A$11M-

OfferUp Revenue

OfferUp's latest recorded revenue is $100M, as of its undisclosed-stage round in March 2020. At a $1.4B valuation, that implies a 14.0x revenue multiple.

OfferUp revenue by funding round

OfferUp revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2020$100M$1.4B14.0xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

OfferUp Funding History

OfferUp has raised a total of $381M across 7 funding rounds.

OfferUp's first fundraising round was a $3M Series A in August 2013. The most recent completed round was a $120M undisclosed-stage round in March 2020.

OfferUp funding rounds

OfferUp funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2020Undisclosed stagePobts (lead); OLX Group; Andreessen Horowitz; Warburg Pincus$120M$1.4BOfferUp, a Bellevue, Washington-based mobile marketplace app for buying and selling used goods locally, announced a $120 million funding round on March 25, 2020, led by OLX Group, the online classifieds business of Prosus and majority investor in rival Letgo. Existing investors Andreessen Horowitz and Warburg Pincus also participated, bringing OfferUp's total funding to $380 million. As part of the deal, OfferUp agreed to acquire Letgo's North American operations, creating a combined U.S. entity with over 20 million monthly active users, where OLX Group would own 40 percent upon regulatory approval. The acquisition and funding were aimed at merging marketplaces to enhance scale, product innovation, monetization, and competition against Craigslist, eBay, and Facebook, amid slowing user growth from 42 million annual users in 2018 to 44 million in 2019. OfferUp CEO Nick Huzar emphasized building the largest, simplest, and most trustworthy local marketplace. Post-acquisition, OfferUp operated the combined business, with Huzar remaining CEO and OLX's Alec Oxenford joining the board as senior advisor. The deal closed later in 2020, subject to regulatory approval expected in May. OfferUp, founded in 2011, continued growth initiatives including hiring plans post-funding.
Aug 2018Series DGGV Capital (lead)$39M-OfferUp, a Seattle-based mobile marketplace for local buying and selling, raised $39 million in August/September 2018 as part of a targeted $150 million Series D round, with investors including Notable Capital, Andreessen Horowitz, Comcast Ventures, Jackson Square Ventures, Tenaya Capital, and Warburg Pincus. At that earlier time, OfferUp reported 29 million app installs nationwide and aimed for global expansion. By mid-2018 around the $39 million raise, OfferUp reported 43 million unique users in the U.S. over the prior 12 months and over 60 million app downloads, positioning itself as a dominant player against Craigslist and eBay with features like local transactions and shipping services launched earlier that year. The funding was intended to fuel competition in the secondhand marketplace, following competitor Letgo's $500 million raise, with OfferUp seeking the remaining $111 million to reach $371.6 million in total funding.
Nov 2016Series DMax Levchin (lead)$11M--
Sep 2016Series CWarburg Pincus (lead); Ling Wong; T. Rowe Price; Altimeter Capital; Andreessen Horowitz; GGV Capital$119M$1BOfferUp, a Bellevue, WA-based mobile marketplace founded in 2011 by Nick Huzar and Arean Van Veelen, enables local buying and selling of items like household goods via a photo-sharing app, positioning itself as a modern Craigslist alternative with easy mobile use. The company emerged from stealth in 2015 and quickly became the largest U.S. mobile marketplace for local transactions, ranking high in app store downloads and winning GeekWire's App of the Year. In August/September 2016, OfferUp closed a $119-120 million funding round led by Warburg Pincus, with participation from new investors GGV Capital and Altimeter Capital, plus existing backers Andreessen Horowitz, T. Rowe Price, Vy Capital, and Coatue Management, bringing total funding to over $210 million. Reports indicated the round valued OfferUp at $1.2 billion or more, confirming its unicorn status as the Seattle area's first such company, following a prior March 2016 round at $800 million. The funds were earmarked for engineering expansion, hiring (from 40 to over 100 employees), and national growth beyond Seattle to all major U.S. cities. Traction included processing over $14 billion in gross merchandise volume (transactions) paced for 2016, highlighted in Mary Meeker's Internet Trends report comparing user engagement to Snapchat, and comparisons to eBay's early growth. Recent hires like Peter Wilson from Google bolstered engineering. Competitively, OfferUp disrupted stagnant local marketplaces by leveraging smartphones for seamless experiences, attracting first-time sellers without phone number sharing, and showing no impact from rivals like Letgo or Mercari. Investors praised its market expansion potential.
Mar 2015Series CT. Rowe Price (lead); Third Kind Venture Capital; Andreessen Horowitz; Tiger Global; Coatue; Allen & Company; Vy Capital$73M$500MOfferUp, a mobile marketplace for local buying and selling launched in 2011, raised a Series C round of $73 million in March 2015 led by T. Rowe Price, with participation from Andreessen Horowitz, Coatue Management, Tiger Global Management, Vy Capital, Allen & Company, Jackson Square Ventures, and High Line Venture Partners. This brought total funding to approximately $90-93 million across multiple rounds. The funding supported rapid growth, with transactions growing nearly 500% since the prior round and $2.9 billion in platform transactions year-to-date as of November 2015. Employee count expanded from 15 to 67 within a year, and the app positioned itself as a top shopping app competing with Craigslist and VarageSale by emphasizing easy photo-based listings and local focus. Investors like Andreessen Horowitz described OfferUp as among the fastest-growing marketplaces they had seen. The company emerged from stealth in late 2015 to highlight its traction amid speculation. Later rounds included a 2016 Series C at $1B+ valuation led by Warburg Pincus, building on this foundation, with total funding eventually exceeding $380 million.
Mar 2014Series BThird Kind Venture Capital; Jackson Square Ventures; Andreessen Horowitz$16M--
Aug 2013Series AJackson Square Ventures (lead); SV Angel$3M$11MOfferUp is a mobile marketplace platform that enables consumers to buy and sell goods locally. Founded by Nick Huzar, the company positions itself to simplify peer-to-peer commerce. In July 2013, OfferUp closed a Series A funding round led by Jackson Square Ventures at a $10.5 million post-money valuation. The round was characterized by investor confidence in the founding team's execution capability and customer-focused approach.

Who has invested in OfferUp?

16 investors have backed OfferUp across its funding rounds, including Andreessen Horowitz, GGV Capital, Warburg Pincus, T. Rowe Price, Third Kind Venture Capital and Jackson Square Ventures.

Lead investors include Pobts, GGV Capital, Max Levchin, Warburg Pincus, T. Rowe Price and 1 other investor.


OfferUp Investors

Investors in OfferUp by funding rounds participated
InvestorHQRoundsRoleFirst check
Andreessen HorowitzUnited StatesSan Francisco, CA4ParticipantMar 2014
Third Kind Venture CapitalUnited StatesNew York City, NY2ParticipantMar 2014
Jackson Square VenturesUnited StatesSan Francisco, CA2LeadAug 2013
T. Rowe PriceUnited StatesBaltimore, MD2LeadMar 2015
Warburg PincusUnited StatesNew York City, NY2LeadSep 2016
GGV CapitalUnited StatesSan Francisco, CA2LeadSep 2016
SV AngelUnited StatesSan Francisco, CA1ParticipantAug 2013
Max LevchinUkraineUkraine1LeadNov 2016
Ling WongUnited StatesSeattle, WA1ParticipantSep 2016
OLX GroupNetherlandsAmsterdam1ParticipantMar 2020
Altimeter CapitalUnited StatesMenlo Park, CA1ParticipantSep 2016
Tiger GlobalUnited StatesNew York City, NY1ParticipantMar 2015
CoatueUnited StatesNew York City, NY1ParticipantMar 2015

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Acquisitions by OfferUp

OfferUp has acquired 1 company to date.

Last acquisition by OfferUp was on March 26th 2020. OfferUp acquired letgo for undisclosed valuation.


Latest Acquisitions by OfferUp

letgo
Description
Letgo was a pioneering mobile-first classifieds marketplace designed for users to buy and sell secondhand goods locally. Its North American operations officially merged with OfferUp in 2020, and its standalone app in that region was absorbed into the OfferUp platform. The brand still operates as an independent, highly popular marketplace in Turkey.
HQ CountryUnited States
HQ City
-
Deal Date26 Mar 2020
Valuationundisclosed
EV/Revenue
EV/EBITDA

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OfferUp Competitors

OfferUp competitors include listed companies like Baltic Classifieds Group and Vend Marketplaces, and private ones like Ganji, Carousell, Zhuanzhuan and Quikr.

Public and private companies comparable to OfferUp
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GanjiChinaBeijingPrivate--$1.6B-
CarousellSingaporeSingaporePrivate$50M-$1.1B22.0x
Baltic Classifieds GroupLithuaniaLithuaniaPublicly listed$99M$76M$1.1B10.5x
ZhuanzhuanChinaBeijingPrivate--$1B-
QuikrIndiaBangalorePrivate$50M-$900M-
Vend MarketplacesNorwayNorwayPublicly listed$684M$20M$4.7B6.6x

OfferUp Public Comps

OfferUp is still privately-owned, but its public comps include Liquidity Services, Goto Gojek Tokopedia, Mony Group, eFinance, The RealReal, Lime, Alma Media, GO, LegalZoom and Upwork.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Liquidity Services$477M$45M2.5x2.5x26.0x14.8x
Goto Gojek Tokopedia$1B($16M)0.3x0.3x(20.3x)2.3x
Mony Group$597M$183M2.4x2.4x7.7x7.2x
eFinance$121M$63M11.3x-21.8x-
The RealReal$693M$15M2.6x2.3x121.5x27.4x
Lime$887M$87M1.7x-17.3x-
Alma Media$366M$106M3.8x3.6x12.9x11.3x
GO$263M$49M5.2x4.9x28.2x21.5x

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Common questions about OfferUp

When was OfferUp founded?OfferUp was founded in 2011.
Where is OfferUp headquartered?OfferUp is headquartered in Seattle, WA, United States.
Is OfferUp publicly listed?No, OfferUp is a private, VC-backed company.
What is OfferUp's valuation?OfferUp was last valued at $1.4B in its undisclosed-stage round in March 2020.
How much funding has OfferUp raised?OfferUp has raised $381M across 7 funding rounds.
What was OfferUp's last funding round?OfferUp's last funding round was a $120M undisclosed-stage round in March 2020, led by Pobts.
Who are OfferUp's investors?OfferUp's investors include Andreessen Horowitz, Third Kind Venture Capital, Jackson Square Ventures, T. Rowe Price, Warburg Pincus, GGV Capital, SV Angel, Max Levchin, Ling Wong, OLX Group and 6 others.
What is OfferUp's revenue?OfferUp's latest recorded revenue is $100M (March 2020).
What is OfferUp's revenue multiple?OfferUp's latest valuation implies a 14.0x revenue multiple ($1.4B valuation on $100M of revenue).
Which companies are comparable to OfferUp?Companies comparable to OfferUp include Ganji, Carousell, Baltic Classifieds Group, Zhuanzhuan, Quikr and Vend Marketplaces.
How many companies has OfferUp acquired?OfferUp has acquired 1 company, including letgo.

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