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OfferUp

Marketplace / local commerceUSA
New to Unitard
✂️ Markdown
  1. 🦄
    Became a unicorn
    2016
  2. 📈
    Peak valuation
    $1.4 Billion ’18
  3. 💔
    Became a Unitard
    2020
  4. 💸
    Last valuation
    —
Current status
2020 OLX/letgo recap was a steep down round (OLX took ~40% of the combined entity); still private.

The rise & fall

5 moments · 2011–2025

The key moments, with employee sentiment along the way.

2011
Founded in Seattle
Nick Huzar and Arean van Veelen build a phone-camera-first marketplace for local secondhand deals.
Wikipedia
2016
Joins the unicorn club
Rapid growth — and Craigslist's lunch — carry OfferUp past $1B.
TechCrunch
2018
The peak: ~$1.4B$1.4B
Its primary round pegs the marketplace around $1.4B as competition with letgo and Craigslist intensifies.
Press reports
Mar 2020
The OLX recap — a steep down round
OfferUp raises $120M led by OLX and absorbs rival letgo, handing OLX about 40% of the combined company — well below the peak, and out of the club.
Press reports
From the inside · Glassdoor reviews, 2020–25
Glassdoor reviews since the merger described a bumpy stretch: staff recounted a pandemic-era hiring surge followed by repeated layoff rounds, frequent leadership turnover and shifting strategy, and more recently engineering roles moving to lower-cost teams in Colombia.
Today
Still private — the funds keep marking
T. Rowe Price New Horizons Fund, Inc. marks it at $0.60/share · -31% from its peak mark · as of Jun 2025
SEC NPORT-P

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

OfferUp is a Seattle-based mobile marketplace for buying and selling used goods, founded in 2011. Rapid growth made it a unicorn in 2016, and it was widely reported at a roughly $1.4B valuation by 2018.

Facing a tougher market and intense competition, OfferUp raised $120M led by OLX Group in March 2020 and merged with rival letgo, handing OLX about 40% of the combined company — a steep down round that left it well below its peak.

Mutual-fund markdowns

1 fund · SEC NPORT-P

How U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.

Per-share mark from peak
-31%
T. Rowe Price New Horizons Fund, Inc.
$0.87 → $0.60
as of Jun 2025

Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Oct 2026.

Source: Press; 2020 OLX/letgo down-round recap; peak per primary round

Founders

  • Nick Huzar
    Co-founder & CEO
    Still there — Co-Founder & Board DirectorLinkedIn ↗
  • Arean van Veelen
    co-founder
    Still there — Co-Founder & Strategic AdvisorLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (19)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard

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