Yahoo! Inc.’s former CFO and interim CEO has joined Auction.com as CFO and EVP, the real estate marketplace announced.
According to Auction.com, Tim Morse will work out of the company’s Silicon Valley office, overseeing financial operations and growth strategies. He is currently working with outgoing CFO Bruce Felt to help ease the transition.
Morse’s appointment comes weeks after Auction.com announced a $50 million investment from Google Capital as part of a strategic partnership focused on expanding the company’s share of the global real estate marketplace.
“As we position ourselves for a new phase of growth, Tim’s expertise and experience with fast-growing technology companies are important additions to the Auction.com management team,” said Jeff Frieden, Auction.com’s CEO and co-founder. “We will rely heavily on his leadership as we expand our ongoing efforts to transform how real estate is bought and sold.”
Morse has a history of aiding technology companies in implementing growth strategies. After leaving Yahoo! in 2012, he joined Adap.tv, where he led the firm’s initial public offering (IPO) efforts to near conclusion. The company was acquired by AOL shortly before going public.
In addition, he spent 15 years at General Electric (GE), moving up through progressively greater financial leadership positions. Before leaving the company in 2007, he served as CFO and general manager of business development for GE plastics.
“Auction.com is a game-changer for both the real estate industry and e-commerce,” Morse said. “Real estate represents the largest financial transactions that most businesses and individuals will make. It’s truly exciting to help make that process more fair and equitable.”