OfferUp Keys In On Used Car Market With the Launch of OfferUp Autos

SEATTLE, July 24, 2018 /PRNewswire/ -- OfferUp, the largest mobile marketplace in the U.S. for local buying and selling, today launched OfferUp Autos, a new product offering that gives users the same seamless experience they get in the everyday shopping experience, but tailored to address the needs of used car buyers, sellers, and dealers. OfferUp Autos is available today, with additional features rolling out in the coming weeks.

"Today, we estimate that nearly 10% of used car sales in the country flow through OfferUp, so launching OfferUp Autos to give people an even better car buying and selling experience made sense," said Nick Huzar, CEO and co-founder of OfferUp. "OfferUp Autos leverages the organic traction and growth we've experienced over the past few years and builds simplicity into a process that is still largely fragmented and slow. As consumers continue to embrace mobile commerce, we know there's a huge opportunity for independent sellers and dealers to start meeting them where they already are."

Since 2011, OfferUp has paved the way for a simpler, more trusted way to buy and sell locally. As their marketplace grew, "Cars & Trucks" quickly became a perennial top three category for them. OfferUp Autos enhances simplicity and reduces friction in the car buying and selling process. Features include:

For Buyers:

• Browse more inventory and engage on multiple vehicles from both independent sellers and dealers without giving personal info away
• Find the best deals nearby and connect with dealers instantly and anonymously with "click-2-call," keeping your personal contact info secure
• Leverage AutoCheck, CARFAX Vehicle History Reports®, and VinAudit to access vehicle history information
• Benefit from OfferUp's focus and dedication to building a trusted and safer marketplace through ratings and reviews of sellers and dealers

For Sellers:

• Access to over 7 million buyers searching for cars and trucks in a year
• Enhanced auto-fill capabilities to help you post quickly and make your car listing attractive and stand out from the rest
• See profile reviews of potential buyers to gain insight into their online reputation
• Independent sellers can post their listing for free and have access to optional promotional tools such as "Bump" and "Promote"

For Dealers:

• Easily sync and manage your inventory, saving you time
• Set up an official dealer profile with a Verified Dealer badge, your location and hours, and an "About Us" section to help differentiate from competition
• Reach buyers at the optimal time in your area with automatic posting backed by OfferUp's data science insights
• Connect with over 7 million interested buyers instantly with "click-2-call"

Embracing the real-time connections that the mobile marketplace makes possible, dealers on OfferUp report an increase in both foot traffic and sales. Statistics show that more than 30% of cars sold on OfferUp will sell in two days or less and more than 50% of cars sold will sell in less than a week. This is what OfferUp dealers had to say about OfferUp Autos:

"OfferUp Autos is giving us a great return on investment. In our first month we sold four cars and right now we're closing in on two additional deals. The key to generating sales in the auto industry are leads and getting people through the door, and OfferUp has led to an increase in leads, resulting in more sales." -Brian Paul, Bill Korum Puyallup Nissan, Puyallup, WA

"We have buyers coming in from OfferUp all the time, and for us, the additional foot traffic has led to an increase in sales. And you can't beat the price compared to other sites out there." -Perry Sasson, Kosher Motors, Hollywood, FL

For more information or to sign up for OfferUp's dealer program, go to offerup.com/autos/.

About OfferUp
OfferUp is dedicated to building the simplest and most trustworthy way for people to buy and sell in their communities. As the largest and fastest growing mobile marketplace for local buyers and sellers in the U.S., the company offers iOS and Android apps that make selling an item as easy as snapping a picture from your mobile device. The privately held company is based in Bellevue, WA. and backed by top investors including Andreessen Horowitz, Warburg Pincus, GGV Capital, T Rowe Price and Coatue Management. For more information, visit our website and follow us on Twitter and Facebook.

SOURCE OfferUp