Incoming OfferUp CEO Todd Dunlap (left) and OfferUp co-founder and new chief product officer Nick Huzar. (OfferUp Photo)

Seattle-area startup OfferUp has a new CEO. The popular mobile marketplace hired former managing director Todd Dunlap to lead the company, one of the Seattle region’s only tech startups valued at more than $1 billion.

OfferUp co-founder and former CEO Nick Huzar will remain at the company as its new chief product officer. He will retain titles of president and board chair.

“OfferUp has a strong culture of innovation and user-focused decision making, and I’m looking forward to working closely with Nick and his team to continue to build on their current success,” said Dunlap, who starts in July and will also join the company’s board.

Dunlap is a longtime Seattleite who spent nearly 14 years at Microsoft, where he helped launch the original Xbox as COO of the consumer and online division. He joined in 2012 as its first managing director and was responsible for the travel giant’s business in the U.S. and Canada.

Huzar, a former DealSpringer CEO and T-Mobile product manager, was inspired to launch OfferUp in 2011 after looking at all the items around his home after the birth of his daughter. He co-founded the company with Arean van Veelen.

OfferUp competes with Craigslist, eBay, Facebook, and other marketplace apps. The company raised $120 million last year and acquired rival marketplace Letgo. It now has 56 million users.

In December the startup hired former HouseCanary and IAC exec Niti Bashambu as chief product officer but she left three months later. Last year the company also brought on a new CFO, hiring former RealNetworks and Amazon exec Michael Eggers.

OfferUp, ranked No. 9 on the GeekWire 200,  has 350 employees between offices in Bellevue, Wash., and Miami. Total funding to date is $380 million.

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