OfferUp was founded in 2011 by Arean van Veelen and Nick Huzar. The company has not publicly endorsed plans to participate in an IPO.
OfferUp is an online customer to customer marketplace where users can sell used furniture, appliances, and more. In 2020, the company acquired Letgo, another C2C marketplace. OfferUp has sought to differentiate itself from other similar platforms by including user profiles and ratings, along with a more modern interface. The company has raised more than $380 million in venture capital funding from investors including Andreessen Horowitz, Warburg Pincus, and OLX Group. OfferUp declined to disclose valuation figures following a $120 million fundraising round in 2020.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
03/25/2020 | Series D | $151MM | $xx.xx | $1.54B | Andreessen Horowitz, Ggv Capital, Olx, Triplepoint Venture Growth, Warburg Pincus | |
Price per Share
$xx.xx
Shares Outstanding
22,543,335
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Andreessen Horowitz, Ggv Capital, Olx, Triplepoint Venture Growth, Warburg Pincus
|
||||||
08/26/2016 | Series C-1 | $130MM | $xx.xx | $1.28B | Altimeter Capital Management, Andreessen Horowitz, Coatue Management, Ggv Capital, T. Rowe Price, Vy Capital, Warburg Pincus | |
Price per Share
$xx.xx
Shares Outstanding
19,408,171
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Altimeter Capital Management, Andreessen Horowitz, Coatue Management, Ggv Capital, T. Rowe Price, Vy Capital, Warburg Pincus
|
||||||
03/06/2015 | Series C | $73.4MM | $xx.xx | $815.25MM | Allen & Company, Alliance Of Angels, Andreessen Horowitz, Coatue Management, Jackson Square Ventures, Third Kind Venture Capital, Tiger Global Management, T. Rowe Price, Vy Capital | |
Price per Share
$xx.xx
Shares Outstanding
14,741,420
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Allen & Company, Alliance Of Angels, Andreessen Horowitz, Coatue Management, Jackson Square Ventures, Third Kind Venture Capital, Tiger Global Management, T. Rowe Price, Vy Capital
|
||||||
07/01/2014 | Series B | $15.2MM | $xx.xx | $67.1MM | Andreessen Horowitz, Jackson Square Ventures, The Gramercy Fund | |
Price per Share
$xx.xx
Shares Outstanding
33,811,550
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Andreessen Horowitz, Jackson Square Ventures, The Gramercy Fund
|
||||||
07/26/2013 | Series A-2 | $121,435.00 | $xx.xx | $16MM | Sequoia Capital | |
Price per Share
$xx.xx
Shares Outstanding
6,979,050
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sequoia Capital
|
||||||
07/26/2013 | Series A-1 | $958,331.00 | $xx.xx | $15MM | Sequoia Capital | |
Price per Share
$xx.xx
Shares Outstanding
6,884,560
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sequoia Capital
|
||||||
07/26/2013 | Series A | $4.02MM | $xx.xx | $13.25MM | Alliance Of Angels, Jackson Square Ventures, Several Individual Investors | |
Price per Share
$xx.xx
Shares Outstanding
28,895,780
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Alliance Of Angels, Jackson Square Ventures, Several Individual Investors
|