IRVINE, CA—Former Oracle CFO Jeff Epstein has joined Auction.com's board of directors. Epstein, who will chair the audit committee, is an operating partner at Bessemer Venture Partners and a senior advisor at Oak Hill Capital Partners.
The veteran joins a representative from Google Capital on Auction.com's board. As GlobeSt.com reported recently, the firm made a $50-million investment in the company and formed a strategic partnership with it.
Epstein also serves on the board of directors for Priceline, an online hotel marketplace, and has participated in its growth from $1 billion to $70 billion in market capital. He also serves on the board of Shutterstock, a marketplace for professional photography; Kaiser Permanente; and Global Eagle Entertainment, and is on the management board of the Stanford University Graduate School of Business.
According to Jeff Frieden, CEO and founder of Auction.com, “Jeff understands the value of online marketplaces that bring buyers and sellers together on a single platform. As the nation's largest online real estate marketplace, Auction.com is eager to use Jeff's experience and insights to help plan our next phase of growth.”
In his former position as EVP and CFO of Oracle, which has a market value of more than $150 billion, Epstein led the finance organization. As such, he brings to Auction.com his understanding of the elements that comprise a technology-industry leader.
“While Trulia and Zillow have proven that millions of Internet users will search for real estate formation, Auction.com has a proven record of success connecting buyers and sellers to consummate real estate transactions online,” says Epstein. “By being the first to deliver the benefits of an open, interactive marketplace—price discovery, transparency, speed and efficiency—Auction.com is well positioned to lead this segment of the industry for years to come.”
Before joining Oracle, Epstein served as CFO of several public and private companies, including DoubleClick, which was sold to Google; King World Productions, which was sold to the CBS Corp.; and Nielsen's Media Measurement and Information Group. He was also an investment banker at the First Boston Corp.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
