F&F Capital Group, LLC announced earlier this week that its CEO, Jeffrey P. Frieden, has resigned as chairman of the board of Auction.com. Mr. Frieden provided the following statement upon his resignation:
“It is with mixed emotions that I announce my resignation from Auction.com. It has been an amazing journey, and I am incredibly thankful to our partners and employees who contributed to the growth of the Company since it was founded over 20 years ago. I wish the company continued success as I move on to pursue new and exciting entrepreneurial endeavors.”
Mr. Frieden and his long-time business partner, Robert D. Friedman, co-founded Auction.com in 2007, initially bootstrapping and eventually building the country’s largest online real estate marketplace and a multibillion-dollar enterprise. The co-founders established Ten-X Commercial in 2011, seeing the need for a branch of the business dedicated solely to commercial real estate, once again using cutting-edge technology to improve the real estate marketplace.
Under Jeff’s leadership, Auction.com and Ten-X drew strategic investors such as Stone Point Capital in 2008, Google in 2013, and, eventually, Thomas H. Lee Partners, which bought a majority stake in both companies in 2017. CoStar acquired Ten-X Commercial in 2019, where the business concept is growing and proving its value in the future of commercial real estate transactions.
Mr. Frieden is also the co-founder and CEO of F&F Capital Group, LLC (“F&F”), a family office and active investment firm with interests in a variety of industries. F&F acquired interests in approximately 1.5 million square feet of commercial retail properties, 1,500 multifamily units, $100 million in mezzanine debt, and more than $65 million in commercial aviation investments in 2022 alone.