AuctionPoint, Inc., a Marina del Rey, California-based provider of an online commercial property auction platform, has received a strategic investment of undisclosed amount from Tom Anderson, social media pioneer and co-founder of MySpace.
In conjunction with the investment, Mr. Anderson joins the company’s board of advisors. In this new role, Anderson will provide strategic counsel on AuctionPoint’s corporate vision and growth strategy, as well as input on technological developments.
The new capital will help the company accelerate nationwide expansion.
Commenting on the deal, Mr. Anderson said: “I believe AuctionPoint’s business model of bringing sophisticated technology to an otherwise traditional industry is a game changer.
“AuctionPoint is shaping how commercial real estate deals get done, and industry players are realizing that these new ways of doing business are essential to jumpstart the marketplace”, he added.