image credit : OfferUp

Washington based classifieds and e-commerce startup OfferUp is raising another major round of funding according to a new filing with the SEC which indicates of the company issuing shares worth up to $150 million for new investors with $39 million already raised so far as OfferUp aims to boost its balance sheets as it expands in the rapidly growing and competitive e-commerce market.

Prior to this round, OfferUp has raised $221 million so far across several rounds from the likes of Andressen Horowitz, Tiger Global, Allen & Company, T. Rowe Price, GGV Capital and several others with the 7 year old company being among the global e-commerce unicorns valued at $1.2 Billion from its most previous funding round.

 “Our focus on building the best and most successful experience for consumers has resulted in OfferUp being the largest local marketplace in the U.S.,” OfferUp CEO Nick Huzar said in a statement. “We’re now well on our way to leveraging our size and reach into building a real business with significant revenue and a clear path to profitability. Our capital strategy is to achieve those goals by raising the right amount, with the right partners, on the right terms. This round will help us accelerate bringing on more top talent to expand on our mission of building the largest, simplest and most trustworthy local marketplace.”

OfferUp is known for its unique method of providing specific locations to facilitate trade between buyers and sellers but has also expanded into enabling shipping for items compliant to both USPS (United States Postal Service) and other forms of regulations.

Having grown to over 200 employees, OfferUp counts its major headquarters based in the Seattle region with an additional presence in Philadelphia.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print