The amazing story of how two guys started a revolutionary real estate e-commerce company that has transacted more than $30 billion in real estate--online.
Rob Friedman and his high school friend Jeff started an offline auction company that did reasonably well. But then the internet came along and they decided to put some listings online. Things really took off when, after four years of badgering the owner, they bought the domain Auction.com for $1.7 million and rebranded the company.
Today, Auction.com is the country's (and possibly the world's) largest e-commerce seller of real estate. And they hold a world record! The Auction.com platform was used to facilitate the largest verified e-commerce transaction in history based on current Guinness World Records information: The $96 million sale of Manhattan Towers, a two-building, 309,734 square-foot office property in Southern California.
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