OfferUp — research brief

# OfferUp — research brief

Labels: **FACT** = company source · **SECONDARY** = press / analyst · **INFERENCE** = our reading.

## Company
- Mobile-first local C2C marketplace for buying and selling nearby; also Jobs, Services, rentals, and local business tools (FACT, [about.offerup.com](https://about.offerup.com/); [What is OfferUp?](https://help.offerup.com/hc/en-us/articles/360031989092-What-is-OfferUp)).
- Founded 2011 in Bellevue, Washington by Nick Huzar and Arean Van Veelen; CEO Todd Dunlap (succeeded Huzar in 2021) (SECONDARY, Wikipedia / GeekWire; company about & CEO letter).
- Private company; does **not** publish audited financial statements (FACT / company practice).
- Acquired rival Letgo (U.S.) in 2020; Letgo U.S. app merged into OfferUp Aug 31, 2020 (SECONDARY, GeekWire / TechCrunch coverage of deal).
- **United States only**: “OfferUp is currently only available in the United States” (FACT, Help Center).

## Scale (company claims)
- **40M+** active users nationwide; **20%+** of adults in top markets use the app every month; **90%** user authentication rate; **30M+** annual transactions (FACT, [about.offerup.com](https://about.offerup.com/), live Oct 2026).
- Do not invent MAU/download totals beyond these company claims; older Wikipedia “20M monthly active” figures are dated SECONDARY.

## Monetization (FACT — Help / Business)
Free core: browse, post, in-app chat, local cash meetups. **No commission** on in-person transactions (FACT, What is OfferUp?).

Paid features (FACT, Help + Business sites):
- **Promotions** — pay to promote items at top of feed; **Promote Plus** subscription **$19.99/mo** or **$99.99/yr** (FACT, [Promote Plus](https://help.offerup.com/hc/en-us/articles/360052029431-Promote-Plus-subscription)).
- **Additional listings** — fee when free monthly listing allotment is exhausted (FACT, What is OfferUp?).
- **OfferUp Premium** — **$7.99/mo**: early access to new items, ad-free experience, Premium badge, priority inbox (FACT, [Premium](https://help.offerup.com/hc/en-us/articles/10542076242964-OfferUp-Premium-subscription)).
- **Job listings** — fee to post openings (FACT, What is OfferUp?).
- **Service listings** — flat monthly plans (e.g. Services from **$75/mo**; 3- and 6-month discounts on business site) (FACT, [business.offerup.com/services](https://business.offerup.com/services)).
- **OfferUp Storefronts** (business): Starter **$49/mo** (35 posts / 4 promotions); Enhanced **$249/mo** (75 posts / 25 promotions / 10 refreshes); Elite custom (FACT, [Storefronts pricing](https://business.offerup.com/storefronts/pricing)). No per-lead fees advertised.
- **Programmatic / display ads** — CEO memo (Dec 2024) cites “programmatic ad rates” as a legacy revenue line that hurt 2024 results (FACT via GeekWire reprint of memo).
- **Shipping take-rate (historical)**: seller service fee was **12.9%** of item price (min $1.99) when nationwide shipping was available (FACT, archived Help shipping article). **Nationwide shipping ended** — new listings local-pickup only from **Sep 23, 2025**; shipping removed from remaining listings by **Oct 21, 2025** (FACT, [Nationwide shipping ending](https://help.offerup.com/hc/en-us/articles/41043186552980-Nationwide-shipping-ending)).

**Primary earn engine today (INFERENCE from fee schedule + CEO memo):** paid promotions / placement + subscriptions + business flat fees + ads — **not** a GMV take-rate on local cash deals.

## Financials
- **FY2023:** Company told AIM Group it posted **2023 sales approaching $150 million** and its **first-ever annual profit** (SECONDARY, [AIM Group Sep 19, 2024](https://aimgroup.com/2024/09/19/offerup-launches-services-category/) — “the company told us”). CEO public letter: “2023 was a strong year of **profitable growth**” without a dollar figure (FACT, [CEO letter](https://about.offerup.com/post/ceo-letter-2023)). GeekWire Dec 2024 memo quote: “revenue growth and our first year of **EBITDA profitability**” in 2023 (FACT via GeekWire).
- **FY2024:** No public dollar revenue. CEO memo: macro impact on legacy lines, “particularly … programmatic ad rates,” caused OfferUp to “slip slightly back into the red” (FACT via [GeekWire Dec 11, 2024](https://www.geekwire.com/2024/offerup-cuts-22-of-staff-amid-expansion-beyond-used-goods-read-ceos-memo-to-staff/)). AIM/Business Wire (May 2025 Craigslist Report summary): OfferUp is **No. 3** U.S. horizontal classified site behind Craigslist and Mercari, described as “borderline profitable” — **no OfferUp revenue figure stated** in the press summary (SECONDARY).
- Third-party scrapers (Kona ~$67M, etc.) conflict and are **not** used (SECONDARY / unreliable).
- Dec 2024: **~22% headcount cut**; LinkedIn “nearly 500” cited by GeekWire at time — not a company census (SECONDARY).

**Atlas ranking figure used:** approaching **$150M sales FY2023** (SECONDARY, company to AIM Group). No newer full-year company or AIM dollar figure found for OfferUp.

## Competitive position
- AIM Group ranks OfferUp **No. 4** generalist U.S. marketplace behind eBay, Craigslist, Mercari (Sep 2024 AIM article) and **No. 3** among U.S. horizontal classified sites in the 2025 Craigslist Report press summary (SECONDARY). Figures are analyst rankings, not audited share.

## International
- Home market: United States only (FACT, Help Center).
- Entry mode: digital-only (app + web); local in-person meetups; shipping retired 2025 (FACT).
- No non-U.S. revenue; `homeOnlyStatement` from Help Center.

## Not found / not used
- No primary-source FY2024/FY2025 revenue, ARR, valuation, or audited P&L.
- Do not invent take-rate % of GMV; local cash deals have $0 platform fee (FACT).
- Do not annualize any quarterly figure (none disclosed by company).