Auction Award Com, the largest online real estate market in the world, today announced a $50 million investment from Google Capital. As part of the investment, one representative from Google Capital will join the board of directors of the company and another will take an observer position on the board of directors.
‘Google is the world’s largest Internet company, and we’re thrilled to have the opportunity to work closely with them. This will give us the opportunity to tap into their deep expertise in digital marketing and mobile, as well as in the construction of world-class products,” said Jeff Frieden, CEO and Co-Founder of Auction. Come on, ‘Over $7 billion in commercial and residential real estate traded through our online marketplace in 2013, and we believe that Google Capital support will help us expand our industry leadership and build up a larger share of the global real estate market. ”
Google Capital joins the Auction to other strategic shareholders Com including Starwood Capital Group, Starwood Property Trust, Stone Point Capital and the Fortress Investment Group’s affiliated funds Auction Award Com handles tens of thousands of transactions annually across commercial and residential real estate for clients ranging from major financial institutions to individuals and brokers.
‘Action Com has quietly built one of the largest marketplaces on the web,” said David Lawee, Partner at Google Capital. ‘We think the auction is Com can fundamentally change how real estate, and in particular commercial real estate, can be bought and sold, leveling the playing field for smaller investors. ”
Google Capital was established in 2013 and previously invested in Survey Monkey, Lending Club and Renaissance Learning. JPMorgan Securities LLC was the sole private placement agent for the auction. Com in connection with the transaction
About Auctions Come on,
Auction Award Com, LLC, is the nation’s leading online real estate market Founded in 2008, the company has sold almost $20 billion in assets since 2010. Auction Award Com has more than 900 employees and offices in Irvine and Silicon Valley, California, as well as offices in Atlanta, Austin, Denver, Miami and Newport Beach. To Visit Auction Com to get more information
About Google’s Capital
Google Capital is a Google-backed growth equity fund. Google Capital is investing in companies that use technology to change the way people experience the world. The Google Capital team, advised by Google Technology and Product Leaders, has extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed. Investments by Google Capital to date include SurveyMonkey, Lending Club and Renaissance Learning. (www) Google’s capital (com)
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