Hesse was a member of the executive board of German media group Bertelsmann. Hesse is not the only new recruit to the merger, Lucas Hülsmann has been announced as the chief financial officer, having come from Geneva's Procter & Gamble, the consumer goods giant.

thomas-hesse-1600x900px_article_landscape_gt_1200_grid Thomas Hesse

Both Paddle8 and Auctionata have been innovative in the way they run their auctions: with online auction, live streaming and curated sales, reporting a combined sales total of over $113 million in 2015.