Thursday, September 8, 2016

OfferUp Picks Up $119M Funding To Take On Craigslist

Seattle-based OfferUp, which develops a mobile marketplace squarely aimed at unseating Craigslist in the local buying and selling niche, has raised $119M in a Series C-1 funding, the company said this morning. The funding was led by Warburg Pincus, and also included new investors GGV Capital and Altimeter Capital. The funding also included prior investors Andreessen Horowitz, T. Rowe Price, Vy Capital and Coatue Management, along with others. OfferUp--which is led by Nick Huzar, and was co-founded by Arean van Veelen--provides iOS and Android apps which lets users easily offer up items for sale by taking a quick photo with their smartphone. More information »