Mary Meeker shouts out fast-growing OfferUp in annual ‘Trends’ report; CEO says, ‘This is a big year’

OfferUp CEO Nick Huzar accepts the App of the Year award at the 2016 GeekWire Awards. (Via GeekWire)

When Mary Meeker delivered her annual “Internet Trends” report on Wednesday, it was packed with charts and graphs mentioning some of the biggest and most successful companies in tech. Roughly midway through the 213-slide deck, mobile marketplace startup OfferUp received one of the more positive shout-outs of the day.

Less than a month after taking home GeekWire’s App of the Year award, the Bellevue, Wash.-based OfferUp showed up in a section of Meeker’s report about how monetization options are rising around images. Meeker, a partner at Kleiner Perkins Caulfield & Byers, provided two slides highlighting the company’s rise.

The first slide showed OfferUp in the middle of other image-based platforms such as Facebook, Instagram, Snapchat, Pinterest and Twitter. In a measurement of average daily time spent per user in the United States, OfferUp showed an increase of 12 minutes per day, jumping from 13 minutes in November 2014 to 25 minutes in June 2015.

(Via KPCB)

In the second slide, Meeker illustrated how OfferUp is ramping up at a faster pace than eBay at the same stage since the respective companies’ inception. Four years after its founding, OfferUp said in March that it was on pace to process more than $14 billion worth of transactions this year. The gross merchandise volume at eBay reached $15 billion, but eight years after its launch.

(Via KPCB)

“Mary Meeker is one of the most well respected minds in venture capital and it means a lot for us to be included,” OfferUp CEO Nick Huzar told GeekWire. “This is a big year for OfferUp. It’s huge to see our levels of engagement be compared to companies like SnapChat and Instagram.”

OfferUp, which just hired former Google engineering director Peter Wilson, bills itself as a Craigslist-challenging, user-friendly marketplace to buy and sell goods locally. Users create profiles, collect ratings, and have the ability to message one another within the app.

In an open letter this past March about OfferUp’s growth, Huzar said the app has been downloaded more than 18 million times and 45 new employees joined the company in 2015. The startup now has 13 times the number of transactions in the marketplace as it did this time last year.

To watch Meeker talk through the slides again and mention OfferUp, check out the video here at 13:30: