New Auction.com CMO Has Plenty to Smile About After Google Investment
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When online real estate marketplace Auction.com announced a $50 million dollar funding round from Google Capital last week, the company made another announcement that flew under the radar: the naming of David Thompson as chief marketing officer. Mr. Thompson is replacing Megan Hanley, who left the company over a year ago.
The cash should give Mr. Thompson, a veteran of WebEx and co-founder of early marketing automation platform Leadrocket, an opportunity to get creative. And he’ll need it: Mr. Thompson is tasked with marketing to the company’s b-to-b clients — 80 to 90% of the business, he said — and its b-to-c customer base, which Auction.com is determined to grow.
Overall, more than 35,000 sales occurred on Auction.com in 2013, totaling over $7 billion in gross sales. The company does not disclose its total take on a sale, but it charges buyers a 5% transaction fee on average, according to Mr. Thompson.
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