IRVINE, Calif., Feb. 03, 2023 (GLOBE NEWSWIRE) — F&F Capital Group, LLC announced earlier this week that its CEO, Jeffrey P. Frieden, has resigned as chairman of the board of Auction.com. Mr. Frieden provided the following statement upon his resignation: “It is with mixed emotions that I announce my resignation from Auction.com. It has been an amazing journey, and I am incredibly thankful to our partners and employees who contributed to the growth of the Company since it was founded over 20 years ago. I wish the company continued success as I move on to pursue new and exciting entrepreneurial endeavors.”
Mr. Frieden and his long-time business partner, Robert D. Friedman, co-founded Auction.com in 2007, bootstrapping initially and eventually building the country’s largest online real estate marketplace and a multibillion-dollar business. Seeing the need for a branch of the business dedicated solely to commercial real estate, the co-founders established Ten-X Commercial in 2011, once again using state-of-the-art technology to improve the real estate marketplace. Under Jeff’s leadership, Auction.com and Ten-X attracted strategic investors, including Stone Point Capital in 2008, Google in 2013, and eventually Thomas H. Lee Partners, who acquired a majority share of both companies in 2017. In 2019, CoStar acquired Ten-X Commercial, where the business concept continues to grow and prove its importance in the future of commercial real estate transactions.
Mr. Frieden also serves as the co-founder and CEO of F&F Capital Group, LLC (“F&F”), a family office and active investment company engaged across multiple sectors. In 2022 alone, F&F acquired interests in approximately 1.5 million sq/ft. of commercial retail properties, 1,500 multifamily units, $100 million of mezzanine debt, and over $65 million in commercial aviation investments.
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Source: Auction.com Founder/Chairman Resigns to Pursue New Ventures (yahoo.com)