IRVINE, Calif., June 4, 2018 /PRNewswire/ -- Auction.com, the nation's largest real estate marketplace for distressed asset disposition, today announced that strong market demand is driving a significant expansion of its technological infrastructure, and that it has promoted Amit Aggarwal to Chief Technology Officer to oversee this initiative.
"In keeping with our commitment to provide the best experience for our buyers and sellers, we continue to enhance our tools that create the most dynamic and trusted real estate marketplace," said Amit Aggarwal, Chief Technology Officer for Auction.com. "Through our marketplace, sellers can better monitor their portfolio performance while also optimizing their pricing strategies within one centralized and user-friendly platform. Likewise, buyers gain unprecedented insight into a property through our technology's ability to aggregate intelligence and provide information such as a property's condition, its occupancy status, as well as access to resources, such as title reports, tax lien documents, property information reports, and more. This empowers the industry to more efficiently and profitably transform distressed properties into stabilized community assets."
The organization's technology expansion will be spearheaded by Aggarwal, who will leverage his 16 years of proven experience in leading, innovating, designing and executing large-scale enterprise web based solutions. With his promotion to Chief Technology Officer, Aggarwal will now oversee the technology team, which the company expects to grow by more than 25 percent in the coming months.
"Our clients and customers value having access to technology that brings unprecedented levels of information and insight to help with their disposition strategies," said Jason Allnutt, General Manager of Auction.com. "Our success is directly related to the level of talent within our team, and Amit Aggarwal's dedication in leading our technology expansion demonstrates his ability to identify and implement industry-leading solutions that truly go 'Beyond the Bid.' He is an important member of our organization and in his new role, will play a pivotal part in continuing to lead the way in defining technology's impact on our industry."
Auction.com is the nation's largest online real estate transaction marketplace focused exclusively on the sale of bank-owned and foreclosure properties. The company brings a breadth of quality assets to the market, attracting prospective buyers through world-class marketing and leveraging a scalable technology platform to conduct transactions in a transparent, efficient manner.
Auction.com and its parent company, Ten-X, a Thomas H. Lee Partners company, are headquartered in Irvine and Silicon Valley, Calif., with offices in key markets nationwide. Investors include CapitalG (formerly Google Capital) and Stone Point Capital.