Auction.com Promotes Jake Seid to Co-President and Opens Silicon Valley
Office with Key Hires from Leading Technology Companies
IRVINE, Calif. & BELMONT, Calif. -- April 4, 2013
Auction.com, the world’s largest online real estate marketplace, today
announced that it has promoted Jake Seid to Co-President, with shared
oversight of all day-to-day operations, and established an office in Belmont,
Calif., to tap the talent pool in Silicon Valley.
Seid, who joined Auction.com in 2011, has extensive experience in technology
management and operations. Previous to Auction.com, 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 an early
member of Cisco System’s Cable Business Unit which grew from a $1 million to a
$1 billion revenue run rate and over 90% market share. He was selected as a
Young Global Leader by the World Economic Forum in 2009 and has served on
numerous boards of directors. Seid holds a M. Eng. and a SB in Electrical
Engineering from the Massachusetts Institute of Technology.
“In the short time Jake has been with Auction.com, he has contributed
significantly to both our strategy and operational execution,” said Jeff
Frieden, Co-Founder and Co-CEO of Auction.com. “He was also the driver behind
establishing our Silicon Valley presence and the strong executive talent we’ve
Auction.com is transforming the way real estate is bought and sold through a
more efficient and transparent process that maximizes the value of real estate
assets in the sales process. Its Silicon Valley technology and product teams
are building the company’s next generation platform, products and services to
support Auction.com’s rapidly scaling domestic and international businesses.
The Silicon Valley office will also be home to key team members across
marketing, finance, and legal.
"Real estate transactions have largely been conducted in the same manner for
decades and the industry is ripe for technology-driven change," said Jake
Seid, Co-President of Auction.com. "We established a Silicon Valley presence
to attract the top-tier talent we need to drive our strategy to revolutionize
the online sale of commercial and residential assets."
Among the company’s key hires in the Bay Area include its Chief Financial
Officer Bruce Felt, previously CFO of SuccessFactors; Chief Technology Officer
Ravi Keswani, formerly Vice President of Engineering at Betfair and
Coupons.com; Vice President of Data Products Sheridan Hitchens, previously
with Kabam; Vice President of Customer Experience David Stern, who was
formerly with Electronic Arts and eBay; Vice President and Deputy General
Counsel Mindy Heppberger, previously Deputy General Counsel of Yahoo!; and
Head of Product Kate Hannah, previously with Betfair and an early employee of
its predecessor company. Auction.com counts among its staff veterans of Cisco,
Google, Microsoft, PayPal, StumbleUpon, Trulia, and Zynga.
The Hoyt Organization
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