AuctionPoint Receives Strategic Investment from LoopNet
Summary
AuctionPoint, Inc., a Marina del Rey, California-based provider of an online commercial property auction platform, has received an undisclosed strategic investment from LoopNet, Inc. (NASDAQ: LOOP).Founded by experienced technology entrepreneur Joe Tang and commercial real estate developer Keith Yang, AuctionPoint’s solution allows the broker to remain in control of the auction process, while providing a deadline-oriented approach and market-driven transaction pricing.Brokers from leading national firms in the sector have auctioned property using the platform.LoopNet operates a large commercial real estate listing service online, which covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale.FinSMEs 17/03/2010