Auction.com, an online real estate marketplace, received a $50m investment from Google Capital.
Google Capital joined Starwood Capital Group, Starwood Property Trust, Stone Point Capital and funds managed by affiliates of Fortress Investment Group. In conjunction with the investment, one representative from Google Capital will join the company’s Board of Directors and another will take a board observer position.
Auction.com intends to use the funds to expand operations.
Founded in 2008 by Jeff Frieden, CEO, the company operates an online real estate marketplace which has sold nearly $20 billion in assets since 2010. Auction.com has over 900 employees and offices in Irvine and Silicon Valley, California as well as offices in Atlanta, Austin, Denver, Miami and Newport Beach.
FinSMEs
05/03/2014