Google Capital joins other strategic shareholders in Auction.com including Starwood Capital Group, Starwood Property Trust, Stone Point Capital and Fortress Investment Group. As part of the investment, a representative from Google Capital will join the company’s board of directors and another will take a board observer position.
Over $7bn of commercial and residential real estate traded through Auction.com in 2013.
“Auction.com has quietly built one of the largest marketplaces on the web,” said David Lawee, Partner at Google Capital. “We think Auction.com can fundamentally change how real estate, and particularly commercial real estate, can be bought and sold, leveling the playing field for smaller investors.”
Google Capital was formed in 2013 and previously invested in Survey Monkey, Lending Club and Renaissance Learning.
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