OfferUp Valuation, Funding & Investors
OfferUp is valued at $1B as of September 2016.
Last OfferUp valuation
$1B
Series C · Sep 2016
Last OfferUp funding round
$120M
Undisclosed stage · Mar 2020
Cumulative funding OfferUp raised
$381M
across 7 funding rounds
Key investors in OfferUp
Andreessen Horowitz
Notable Capital
Warburg Pincus
T. Rowe Price
Third Kind Venture Capital
Jackson Square Ventures
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
Seattle, WAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission, Advertising
Valuation
$1B (Sep 2016)
OfferUp Valuation
OfferUp is currently valued at $1B, based on its Series C in September 2016.
The $119M round was led by Warburg Pincus, with participation from Ling Wong, T. Rowe Price, Altimeter Capital, Andreessen Horowitz and Notable Capital.
OfferUp's valuation has grown 91x from $11M at its Series A in August 2013 to $1B in September 2016, across 3 priced rounds.
OfferUp valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2016 | Series C | $1B |
| Mar 2015 | Series C | $500M |
| Aug 2013 | Series A | $11M |
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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2020 | Undisclosed stage | Pobts (lead); Andreessen Horowitz; Warburg Pincus | $120M | - | OfferUp, 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 2018 | Series D | Notable 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 2016 | Series D | Max Levchin (lead) | $11M | - | - |
| Sep 2016 | Series C | Warburg Pincus (lead); Ling Wong; T. Rowe Price; Altimeter Capital; Andreessen Horowitz; Notable Capital | $119M | $1B | OfferUp, 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 2015 | Series C | T. Rowe Price (lead); Third Kind Venture Capital; Andreessen Horowitz; Tiger Global; Coatue; Allen & Company; Vy Capital | $73M | $500M | OfferUp, 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 2014 | Series B | Third Kind Venture Capital; Jackson Square Ventures; Andreessen Horowitz | $16M | - | - |
| Aug 2013 | Series A | Jackson Square Ventures (lead); SV Angel | $3M | $11M | OfferUp 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?
15 investors have backed OfferUp across its funding rounds, including Andreessen Horowitz, Notable Capital, Warburg Pincus, T. Rowe Price, Third Kind Venture Capital and Jackson Square Ventures.
Lead investors include Pobts, Notable Capital, Max Levchin, Warburg Pincus, T. Rowe Price and 1 other investor.
OfferUp Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Participant | Mar 2014 | |
| New York City, NY | 2 | Participant | Mar 2014 | |
| San Francisco, CA | 2 | Lead | Aug 2013 | |
| Baltimore, MD | 2 | Lead | Mar 2015 | |
| New York City, NY | 2 | Lead | Sep 2016 | |
| San Francisco, CA | 2 | Lead | Sep 2016 | |
| San Francisco, CA | 1 | Participant | Aug 2013 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Max Levchin |  Ukraine | 1 | Lead | Nov 2016 |
| Seattle, WA | 1 | Participant | Sep 2016 | |
| San Francisco, CA | 1 | Participant | Sep 2016 | |
| New York City, NY | 1 | Participant | Mar 2015 | |
| New York City, NY | 1 | Participant | Mar 2015 | |
| Allen & Company | New York City, NY | 1 | Participant | Mar 2015 |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | - |
| Deal Date | 26 Mar 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all OfferUp acquisitions and their M&A valuation multiples. Start Free Trial | |
OfferUp Competitors
OfferUp competitors include listed companies like Baltic Classifieds Group and Vend Marketplaces, and private ones like Zhuanzhuan, Carousell, Quikr and 58 Daojia.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Beijing | Private | - | - | $1B | - | |
 Lithuania | Publicly listed | $102M | $79M | $1.1B | 10.9x | |
 Singapore | Private | $50M | - | $1.1B | 22.0x | |
 Bangalore | Private | $10M | - | $900M | - | |
 Norway | Publicly listed | $673M | $19M | $5.1B | 7.1x | |
| China | Private | - | - | $1B | - |
OfferUp Public Comps
OfferUp is still privately-owned, but its public comps include SMZDM.com, QuinStreet, Grupa Pracuj, Ibotta, LegalZoom, Nextdoor, Upwork, Baltic Classifieds Group, Yelp and ATRenew.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
| $1.3B | $61M | 0.7x | 0.7x | 15.8x | 7.9x | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $342M | $7M | 2.5x | 2.4x | 114.9x | 15.3x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $258M | ($69M) | 2.4x | 2.2x | (8.8x) | 27.8x | |||
| $788M | $180M | 1.0x | 1.1x | 4.6x | 3.6x | |||
| $102M | $79M | 11.2x | 10.9x | 14.5x | 14.1x | |||
This data is available for Pro users. Sign up to see all OfferUp competitors and their valuation data. Start Free Trial | ||||||||
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 $1B in its Series C in September 2016. |
| 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, Notable Capital, SV Angel, Max Levchin, Ling Wong, Altimeter Capital and 5 others. |
| Which companies are comparable to OfferUp? | Companies comparable to OfferUp include Zhuanzhuan, Baltic Classifieds Group, Carousell, Quikr, Vend Marketplaces and 58 Daojia. |
| How many companies has OfferUp acquired? | OfferUp has acquired 1 company, including letgo. |
See companies similar to OfferUp
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