What is OfferUp?
OfferUp is dedicated to building the simplest and most trustworthy way for people to buy and sell in their communities. As the largest mobile marketplace for local buyers and sellers in the U.S., the company's iOS and Android apps have consistently ranked among the top five most popular shopping applications for over three years. Based in Bellevue, WA, OfferUp facilitates peer-to-peer transactions, fostering a robust ecosystem for local commerce and enabling users to connect for buying and selling goods within their immediate geographic areas.
How much funding has OfferUp raised?
OfferUp has raised a total of $312.4M across 4 funding rounds:
Debt
$385K
Series C
$73M
Series D
$119M
Other Financing Round
$120M
Debt (2012): $385K with participation from Undisclosed
Series C (2015): $73M led by Andreessen Horowitz, HIgh Line Venture Partners, Vy Capital, TriplePoint Venture Growth BDC, Coatue Management, T. Rowe Price Associates, and Allen & Co.
Series D (2016): $119M supported by T. Rowe Price, Andreessen Horowitz, GGV Capital, and Warburg Pincus
Other Financing Round (2020): $120M featuring Andreessen Horowitz, OLX Group, and Warburg Pincus
Key Investors in OfferUp
T. Rowe Price
T. Rowe Price is a global investment management firm founded in 1937, managing equity and fixed income funds for a diverse client base, including institutional investors and retirement plans.
Andreessen Horowitz
Andreessen Horowitz, often referred to as a16z, is a prominent venture capital firm known for investing in technology companies across various stages, from seed to growth.
GGV Capital
GGV Capital is a multi-stage venture capital firm with a global presence, focusing on investments in social/internet, enterprise tech, and smart tech sectors.
What's next for OfferUp?
With its substantial enterprise-level backing and a recent major strategic investment, OfferUp is well-positioned for its next phase of growth. The company's focus on simplifying local commerce and its strong user engagement suggest a trajectory towards further market penetration and potential service diversification. Future developments may include enhancements to its platform's trust and safety features, expansion into new geographic markets, or the integration of additional services to support its user base. The consistent backing from prominent investors indicates confidence in OfferUp's business model and its capacity to scale effectively in the competitive online marketplace.
See full OfferUp company page
