Google Capital has recently invested $50 million in Auction.com,
an online real estate marketplace. Google Capital is a capital arm of the search
engine giant Google, and it launched in 2013.
Auction.com boasted $7.5 billion in sales last year, mostly
in commercial sales. According to an
article on CNBC, the investment will involve no product integration. Auction.com
is expected to level the playing field for investors of small properties by
changing the way real estate can be bought and sold.
It was also recently announced that David Thompson was named
chief marketing officer of Google Capital. His duties will include marketing to
the company’s business-to-business clients, which make up at least 80% of their
business. He also faces the task of marketing to and growing the small
percentage of business-to-customer business.
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