IRVINE, Calif. – July 7, 2014 – Jake Seid, president of Auction.com, the world’s leading online real estate marketplace, has been named a 2014 Rising Star by HousingWire Magazine.
The list of 20 rising stars, which was unveiled in the publication’s July issue, includes housing industry leaders under the age of 40 whose work is shaping the future of the nation’s most important economic engine.
“While this is certainly a wonderful individual honor, it’s more a testament to the fantastic work of our 900 team members and the shared mission we're pursuing: to create the most trusted online marketplace that makes real estate transactions transparent and simple,” Seid said.
A longtime technology industry leader, Seid oversees company operations at Auction.com, which has sold $25 billion in real estate assets since inception. Last year alone, Auction.com’s online marketplace was the setting for more than $7 billion in commercial and residential sales.
Seid was instrumental in raising Google Capital’s recent $50 million investment in Auction.com. The investment, which is based on a company valuation of $1.2 billion, added a Google seat to the Auction.com board and is expected to further solidify Auction.com’s leadership in online real estate sales.
Seid was the second Auction.com executive honored with an industry award in the past month. The company’s co-founder and CEO, Jeff Frieden, was recently named the EY Entrepreneur of the Year™ 2014 in the real estate category for Orange County.
“Jake’s leadership has helped us ensure that Auction.com’s founding principles – a commitment to transparency and democratization in real estate sales – are supported by the best technology and sales platform,” Frieden said. “He is part of a select class of innovators that is driving this industry forward.” In announcing the list, HousingWire publisher and CEO Paul Jackson pointed out that Seid and his fellow honorees from companies such as Berkshire Hathaway, CoreLogic and Clear Capital comprise a unique group of professionals whose work today “defines what our industry does tomorrow.”
“They come from diverse backgrounds but share one common trait: an outsized impact on the industry and their businesses,” Jackson said. “In an industry that is often stereotyped as ‘older,’ the reality is that there are many younger professionals working within the industry – bringing their unique ideas, energy and skills to bear to improve the single most important aspect of the U.S. economic engine.”
Seid holds a master’s degree in electrical engineering and computer science and a bachelor’s in electrical engineering from MIT. Seid was previously honored by his alma mater with the Karl Taylor Compton Prize, the highest honor given to an MIT student; and by the World Economic Forum as one of its Young Global Leaders.