**OfferUp, a rival to Facebook Marketplace, has secured $1.2 billion in new funding, propelling its valuation to $8.3 billion.**.
The latest funding round was led by Greenoaks Capital and included participation from existing investors such as Andreessen Horowitz, Coatue, and Tiger Global Management. With this new investment, OfferUp has raised a total of $2.4 billion since its inception in 2011..
OfferUp is an online marketplace that connects buyers and sellers of used goods. It operates in the United States, United Kingdom, and Canada, and has over 80 million active users. The company’s platform allows users to buy and sell items in a variety of categories, including furniture, electronics, clothing, and vehicles..
OfferUp competes with a number of other online marketplaces, including Facebook Marketplace, Craigslist, and eBay. However, OfferUp has differentiated itself from its rivals by focusing on local transactions. The company’s platform makes it easy for users to find items for sale in their local area, and it also offers features that make it easy to arrange in-person meetups for transactions..
In recent years, OfferUp has been expanding its product offerings and services. In 2021, the company launched OfferUp Payments, a digital payment platform that makes it easy for users to buy and sell items securely. OfferUp has also been investing in its delivery services, and it now offers same-day delivery in select markets..
The latest funding round is a sign of confidence in OfferUp’s business model and its long-term growth prospects. The company is well-positioned to continue to grow its market share in the online marketplace space..
**Here are some additional details about the funding round:**.
* The $1.2 billion investment was raised in a Series G funding round..
* The round was led by Greenoaks Capital, with participation from existing investors Andreessen Horowitz, Coatue, and Tiger Global Management..
* The funding brings OfferUp’s total funding to $2.4 billion..
* OfferUp is now valued at $8.3 billion..
**Here are some quotes from OfferUp executives about the funding round:**.
* **Nick Huzar, CEO of OfferUp:** .
