Startup profile for OfferUp: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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OfferUp funding, valuation and investors

Mobile marketplace for local peer-to-peer buying and selling of household goods in the U.S.

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series F

$120M · March 25, 2020

Latest known valuation

$1.4B

Series F · March 25, 2020

Total disclosed equity funding

$120M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

private

growth · Bellevue, Washington, USA

Investors in latest funding

Lead: OLX Group

Other: Andreessen Horowitz

Sources: latest funding Last verified: 2026-07-25

Overview

OfferUp is a mobile-first local marketplace where users buy and sell furniture, electronics, vehicles, and household items within their communities. Founded in 2011 in Bellevue, Washington, by Nick Huzar and Arean Van Veelen, OfferUp grew into one of America's top shopping apps. In March 2020 it acquired rival letgo in a deal where OLX Group invested $120M and took a 40% stake in the combined company; a16z, Coatue, GGV, Tiger Global, and Altimeter were among prior backers. The platform emphasizes trust features, in-app messaging, and nationwide shipping options alongside local pickup.

Why OfferUp is interesting

Survived the classifieds wars by merging with letgo and taking OLX Group as a 40% owner — now 20M+ MAUs on a capital-efficient path vs Craigslist and Facebook Marketplace.

Product & use cases

OfferUp's iOS and Android apps let users list items with photos, chat with buyers/sellers, and complete local or shipped transactions. Post-letgo merger, the combined marketplace reported 20M+ monthly active users with national coverage.

  • Selling used furniture, electronics, and vehicles locally without garage-sale logistics
  • Finding discounted secondhand goods within a drivable radius
  • Nationwide shipping for select categories via OfferUp delivery features
  • Decluttering and quick cash from household items via mobile listing

Key facts

  • Mar 2020: Acquired letgo; OLX Group invested $120M for 40% stake — TechCrunch, PR Newswire
  • Series C (2015): ~$90M with Coatue, Tiger Global, a16z — TechCrunch
  • 20M+ monthly active users post-merger (Mar 2020 press)
  • Top-five U.S. shopping app for 3+ years per company press
  • Co-investors not in VCT directory: OLX Group, Warburg Pincus

Funding history (newest first)

Series F

2020-03-25 $120M Valuation: $1.4B

Source: https://techcrunch.com/2020/03/25/online-marketplace-offerup-raises-120m-acquires-top-competitor-letgo/

Series C

2015 ~$90M

Source: https://techcrunch.com/2015/11/19/offerup-raises-90m/

Investors in our directory

Funds linked from OfferUp's profile — open a fund page for stage focus and related deal articles.

Andreessen Horowitz Altimeter Capital Coatue GGV Capital Tiger Global Management

Competitive landscape

Edge: Mobile-native UX and trust/safety features built over a decade; letgo merger consolidated U.S. local marketplace share under one brand with OLX global classifieds expertise.

U.S. local resale is a winner-take-most battle against Facebook Marketplace's distribution advantage. OfferUp's letgo merger reduced direct competition but user growth had slowed pre-2020 (44M annual users cited in TechCrunch). Monetization via promoted listings and shipping fees must offset OLX's 40% ownership dilution. a16z's multi-round bet reflects belief in mobile-native local commerce despite incumbent pressure.

  • Facebook Marketplace direct

    Massive built-in audience via Facebook app; OfferUp competes on dedicated shopping UX and seller tools.

  • Craigslist incumbent

    Legacy web classifieds with minimal product investment; OfferUp targets mobile-first users wanting safer transactions.

  • Mercari direct

    Mobile resale marketplace with shipping-first model; overlaps on C2C goods though Mercari is less local-pickup focused.

  • eBay adjacent

    Global auction/fixed-price platform; stronger for rare/collectible shipping vs OfferUp's local community thesis.

Notable stories

  • OfferUp and letgo were fierce U.S. rivals until OLX Group — letgo's majority owner — funded OfferUp's acquisition of letgo, giving OLX 40% of the combined entity while Nick Huzar remained CEO (TechCrunch, Mar 2020).
  • Pre-merger user growth had slowed from 42M to 44M annual users (2018–2019), prompting scale consolidation rather than standalone IPO path.

Industries

Marketplaces Consumer

Related funding articles

Venture Capital Tracker pieces that cover OfferUp's financing or category context.

FAQs about OfferUp

Practical answers founders, operators, and investors typically search for.

OfferUp is a mobile marketplace for buying and selling used goods locally in the United States. Users list items, message buyers/sellers in-app, and meet for pickup or use shipping options.
Andreessen Horowitz (/fund/andreessen-horowitz), Coatue (/fund/coatue), Tiger Global (/fund/tiger-global-management), GGV Capital (/fund/ggv-capital), and Altimeter Capital (/fund/altimeter-capital) participated across rounds. OLX Group led the 2020 letgo merger investment.
Yes. In March 2020 OfferUp acquired letgo's U.S. business. OLX Group invested $120M and received a 40% stake in the combined company, per TechCrunch and PR Newswire.
Facebook Marketplace leverages social graph distribution. OfferUp offers a dedicated shopping app with trust features built over years of local commerce focus — different acquisition channels and UX.
Tracxn cites ~$786M total across nine rounds. The March 2020 round was $120M alongside the letgo deal; earlier large rounds include ~$90M Series C (2015).
OfferUp remains a private company led by founder Nick Huzar, but OLX Group (Prosus classifieds) owns 40% after the 2020 transaction.
OfferUp is based in Bellevue, Washington, in the Seattle metro area.
Nick Huzar and Arean Van Veelen co-founded OfferUp in 2011.
Listing and browsing are free for basic users. OfferUp monetizes through promoted listings, shipping, and other seller services — check offerup.com for current fees.
Craigslist is web-first with minimal moderation tooling. OfferUp is mobile-native with in-app messaging, user profiles, and trust/safety features aimed at younger smartphone users.
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