Invaluable, the global leader in auction software, today announced that veteran consumer technology executive David Krauter joined the company as Chief Operating Officer. Krauter is well known for his accomplishments leveraging technology in consumer markets, including 6 years as President of SmarterTravel, a Tripadvisor (NASDAQ: TRIP) company, where revenue grew more than 3X under his leadership. Krauter was most recently Executive Vice President and General Manager of Jobcase.com, with over 110 million registered members.
At Invaluable, Krauter will direct departments that most influence demand generation, including product, marketing, customer care, and engineering, with a particular focus on fueling the expansion of machine learning to drive growth.
“What I find most compelling about Invaluable is its undisputed focus and leadership in the art and collectibles auction market,” said Krauter. “Like Tripadvisor for travelers, the Invaluable auction marketplace is truly mission-critical for auction buyers and sellers of unique and rare art and collectibles. Invaluable first disrupted the market by pioneering best-in-class software-as-a-service for the auction industry and then continued innovation with its marketplace and private label solutions. With one of the most experienced management teams in the industry, Invaluable is poised for even greater success and I look forward to helping take the company to the next level.”
“David understands consumer acquisition, engagement, and go-to-market strategy in a way that few executives can hope to, and he’s got a proven track record of maximizing the growth potential of a range of businesses,” said Adam Kirsch, founder and CEO of Invaluable. “He joins an energetic team at the perfect time to spearhead our continuing innovation.”
In the last twelve months, Invaluable online demand from over 235,000 buyers grew to over $900 million (50% annual growth), comprised of $415 million of online purchases (78% annual growth), and over $490 million of online underbidding demand (32% annual growth). During their lifetimes, these buyers purchased more than $1.2 billion online using the Invaluable marketplace and private label products.
Headquartered in Boston, with offices in U.K., France and Australia, Invaluable is the world’s leading online marketplace for estate, fine art, antiques and collectibles auctions. Invaluable enables more than 4 million collectors around the globe to discover and acquire objects they are passionate about, with confidence and convenience, from over 5,000 of the world’s premier traditional auction houses.
Invaluable software and services help auction houses manage and market auctions online. For more than twenty years, its innovations have powered the technology, marketing and research needs of some of the most successful brands in the global auction industry, including Sotheby’s, Christie’s, Bonhams, Artcurial and Tajan, to name a few of the thousands of auction houses served.