Google just pumped $50M into Auction.com, and the real estate marketplace’s Eric Paulsen, above, says the partnership’s a vote of confidence for Auction.com’s biz model, which has come a long way since its early days. Thank the uptick in non-distressed commercial real estate transactions: Last year, it did 90 deals greater than $10M, and he expects that to get even bigger now that more owners are placing buildings for sale (in addition to the special servicers). Now with Google’s backing, the company has “a direct link” into the tech giant’s talent and input. Somewhere down the line, it may even begin to work with groups that dabble in crowdfunding. Eric says that’s still in its infancy and the model needs to prove “it can be consistent.”
Check out Parkwest General Contractor’s blog for more updates.