IRVINE, CA—HousingWire Magazine has chosen Jake Seid, president of Auction.com, as one of its rising stars for 2014. Seid joins 19 others on the list, which includes housing-industry leaders under the age of 40 whose work is shaping the future of the residential real estate market.
Seid, a longtime technology-industry leader, oversees company operations at Auction.com. As GlobeSt.com reported in April 2013, Auction.com promoted Seid to co-president, sharing oversight of all day-to-day operations for the firm with James Corum, co-president. Seid joined Auction.com in 2011 and has extensive experience in technology management and operations. Prior to joining the firm, he was a managing director at Lightspeed Venture Partners, where he was a member of the investment committee and led investments domestically and abroad. Seid was also an early member of Cisco System’s Cable Business Unit, which grew from a $1-million to a $1-billion revenue run rate and more than 90% market share.
Seid was also 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.
Regarding being named to the magazine’s list, Seid says, “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 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 EY Entrepreneur of the Year 2014 in the real estate category for Orange County. Frieden comments, “Jake is part of a select class of innovators that is driving this industry forward.”
In addition, HousingWire publisher and CEO Paul Jackson says 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. 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 US economic engine.”