IRVINE, CA-Locally based online real estate marketplace Auction.com has promoted Jake Seid to co-president. Seid will share oversight of all day-to-day operations for the firm with James Corum, co-president, the company tells GlobeSt.com.
Seid joined Auction.com in 2011 and has extensive experience in technology management and operations. Prior to joining the firm, he was a managing director at Lightspeed Venture Partners, where he was a member of the investment committee and led investments domestically and abroad.
Seid was also an early member of Cisco System's Cable Business Unit, which grew from a $1-million to a $1-billion revenue run rate and more than 90% market share.
According to Jeff Frieden, co-founder and co-CEO of Auction.com, “In the short time Jake has been with Auction.com, he has contributed significantly to both our strategy and operational execution.”
Seid added in a prepared statement that real estate transactions “have largely been conducted in the same manner for decades, and the industry is ripe for technology-driven change.”
As GlobeSt.com reported in March, Auction.com was cautiously bullish on the commercial real estate sector as the first quarter of 2013 winds down. Predictions of continued growth for the rest of the year are included in its Quarterly Economic and Real Estate Update, which provides an overview of the domestic economy and capital markets, and looks at property conditions in each commercial sector.
Read our update to this story later today to learn about Auction.com's newly added Northern California office.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
