Auction.com, the world’s largest online real estate marketplace, appointed Bruce Felt as its executive vice president and chief financial officer.
In his new position, Felt will oversee the Irvine, Calif.-based auction company’s financial operations. Since 2007, Auction.com has sold more than $20 billion in real estate assets through web-based auctions.
Besides online real estate sales, additional services performed by Auction.com include residential loss mitigation and title agency and escrow services.
Primary clients for Auction.com include residential and commercial mortgage lenders, servicers, institutional real estate investors and home builders.
Felt brings nearly 25 years of experience in financial operations and management in the technology sector. Most recently, he served as chief financial officer of SuccessFactors leading the company through its initial price offering, six acquisitions and its $3.4 billion sale to SAP.
Prior to joining SuccessFactors, Felt was chief financial officer of several top software companies, such as LANDesk Software, Integral Development Corp. and FullTime Software. Also, he founded and directed the sales for Renaissance Software and was a senior manager at Deloitte & Touche.
“Bruce has guided several successful technology companies through rapid growth and expansion,” said Monte Koch, co-chief executive officer at Auction.com. “His experience is an important addition to Auction.com’s executive management team and will support our ongoing efforts to drive transparency and utilize technology and marketing to transform the way commercial and residential real estate is bought and sold.”