AdAge is reporting: "When online real estate marketplace Auction.com announced a $50 million dollar funding round from Google Capital last week, the company made another announcement that flew under the radar: the naming of David Thompson as chief marketing officer. Mr. Thompson is replacing Megan Hanley, who left the company over a year ago.
The cash should give Mr. Thompson, a veteran of WebEx and co-founder of early marketing automation platform Leadrocket, an opportunity to get creative. And he'll need it: Mr. Thompson is tasked with marketing to the company's b-to-b clients -- 80 to 90% of the business, he said -- and its b-to-c customer base, which Auction.com is determined to grow.
Overall, more than 35,000 sales occurred on Auction.com in 2013, totaling over $7 billion in gross sales. The company does not disclose its total take on a sale, but it charges buyers a 5% transaction fee on average, according to Mr. Thompson.
Will some of the money go towards acquiring other real estate EMD with traffic and subscribers?
Read all about his plans and segments on AdAge (great model for other EMDs to follow)
Photo: David Thompson as chief marketing officer Auction.com via AdAge