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AuctionPoint attracting investors

LoopNet and MySpace co-founder take stakes in commercial real estate auction platform

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Commercial real estate auction platform AuctionPoint Inc. says an investment from MySpace co-founder Tom Anderson will help the company accelerate its nationwide expansion. The terms of the investment were not disclosed, but the company said Anderson will also provide strategic counsel on the company's growth strategy and input on technological developments as a member of AuctionPoint's board of advisers. "Tom's expertise and successful background in social media and viral marketing will be instrumental in guiding AuctionPoint's business plan, helping us identify opportunities to advance the business and to form future strategic alliances," said Joe Tang, AuctionPoint's co-founder and CEO, in a press release. AuctionPoint said brokers from leading firms including CB Richard Ellis, Grubb & Ellis, Coldwell Banker Commercial and Cushman & Wakefield have used the platform to auction their properties. In March, commercial listings website operat...