NEWS & VIEWS

Global private equity and venture capital news and research

Google Capital backs Auction.com with $50m investment

6 Mar 2014

Google Capital, the search engine giant’s dedicated growth equity investment arm, has invested $50m in online real estate marketplace Auction.com.

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.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014