Cravath, MoFo, Perkins Coie Guide Classifieds Apps Merger

Law360 (March 25, 2020, 10:22 PM EDT) -- App-based classifieds sales groups OfferUp and letgo announced a merger Wednesday creating a company with more than 20 million monthly users, in a deal led by Perkins Coie, Cravath and MoFo.

The transaction also includes a $120 million funding round for the combined company that’s led by the majority owner of letgo — OLX Group — and includes existing OfferUp investors Andreessen Horowitz, Warburg Pincus and GGV Capital, the company said.

"We're combining the complementary strengths of OfferUp and letgo in order to deliver an even better buying and selling experience for our communities,” OfferUp CEO Nick Huzar said in a...

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