Online auction business Paddle8 has secured backing from a multi-family office called Lightyear Collective that has bolstered Paddle8 management’s buyout of its business from Auctionata...“While the merger with Auctionata was not what we had hoped, we’re thrilled to be operating as an independent company once again,” says Alexander Gilkes, Paddle8’s president and co-founder. An overhaul of the group’s technology will follow, Gilkes says.
How do you make art collecting more accessible–and more mobile friendly? The online auction house Paddle8 thinks it has an answer, as co-founder Alexander Gilkes explained at the 2016 Fast Company’s Innovation Festival this week. Paddle8 has plans to expand its work with live streaming to make auctions more accessible and exciting. Meanwhile, it’s expanding the idea of what “collectible” means, auctioning off everything from Frank Sinatra’s ID card to a crustacean in a glass case.