AuctionPoint Gets Investment From LoopNet

Marina Del Rey-based AuctionPoint, which operates an online service for helping property brokers auction off commercial real estate, has received a strategic investment from LoopNet, LoopNet said today. San Francisco-based LoopNet operates an online commercial real estate marketplace. Financial terms of the investment were not disclosed. As part of the deal, LoopNet said it will make AuctionPoint its preferred online auction solution for commercial properties, and will provide its customers with discounts on AuctionPoint's services. AuctionPoint was founded by Joe Tang and Keith Yang. Tang was formerly Chairman and CEO of technology consulting firm Guidance; Yang was a real estate developer. More information »