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auction.com
Best of Bootstrapping: Bootstrapped to $180M in Online Real Estate
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. When we spoke in 2015, Co-founder Jeff Frieden had bootstrapped Auction.com to about $180 million in revenue and profitability. Thereafter, he raised private equity financing and growth capital and ran a private company that was more than qualified to be a public Unicorn. The company had
Best of Bootstrapping: Auction.com Bootstrapped to $180M in Online Real Estate
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Co-founder Jeff Frieden bootstrapped Auction.com to about $180 million in revenue and profitability. Thereafter, he raised private equity financing and growth capital and ran a private company that was more than qualified to be a public Unicorn. The company had
Thought Leaders in Big Data: Ten-X VP of Data Products, Sheridan Hitchens (Part 1)
This discussion focuses on Big Data in the real estate industry. Sramana Mitra: Let’s start by introducing our audience to yourself and Ten-X. Sheridan Hitchens: I’ve been in the industry for about 20 years. I started off my career with Procter & Gamble. I was in strategy consulting for a long while. For the last
Bootstrapping a Billion Dollar Unicorn in Online Real Estate: Auction.com CEO Jeff Frieden (Part 7)
Sramana Mitra: Given the numbers you’ve quoted in terms of houses sold, it seems to me that you should be ready to go public at this point. Is that part of the thinking? Why or why not? What’s going on from an exit point of view? Jake Seid: Our goal is to build a big company.
Bootstrapping a Billion Dollar Unicorn in Online Real Estate: Auction.com CEO Jeff Frieden (Part 6)
Sramana Mitra: Are the real estate agents part of this marketplace or are you working with buyers and sellers, and the brokers are out of the picture? Jeff Frieden: The brokers are in the picture. Sramana Mitra: The people who are actually handling the transactions are still the brokers. Jeff Frieden: We go directly to
Bootstrapping a Billion Dollar Unicorn in Online Real Estate: Auction.com CEO Jeff Frieden (Part 5)
Sramana Mitra: The entity that you sold to private equity was still REDC? Jeff Frieden: That’s right. Sramana Mitra: You bought the Auction.com domain name and rebranded your original entity as Auction.com? Jeff Frieden: Correct. Sramana Mitra: It seems you’re doing hybrid auctions but you’ve expanded from residential distressed properties to commercial distressed properties.
Bootstrapping a Billion Dollar Unicorn in Online Real Estate: Auction.com CEO Jeff Frieden (Part 4)
Sramana Mitra: You were still focusing only on real estate? Jeff Frieden: Only on real estate. Then the market crashed in 2007. We were able to pivot very quickly to help out institutions like large banks that had a tsunami of foreclosures coming in when the market blew up. In 2007, we held our first
Bootstrapping a Billion Dollar Unicorn in Online Real Estate: Auction.com CEO Jeff Frieden (Part 3)
Sramana Mitra: You bought these parcels of land and you ran this auction. What was the outcome of the auction? Jeff Frieden: We made a million dollars in one day. Sramana Mitra: Oh, wow! Terrific! Jeff Frieden: There were thousands of people there betting competitively on this land. It was the 1987 to 1988 timeframe.
