100 Venture Capital Funds & Angel Investors Vote the U.S. Condo Exchange as One of the Nation's Top-50 Emerging Companies
(Miami, FL - November 1, 2005) - The U.S. Condo Exchange ("USCONDEX""), www.uscondex.com , the online exchange where condos can be bought and sold in real time 24-hours a day from anywhere in the world, today announced that it has been selected as one of the top 50 emerging companies in the nation in what is believed to be the largest venture capital competition ever organized, the second annual "Pitching Across America"". The announcement was made by FundingPost, which organized for 100 venture capital funds and angel investors to vote on over 300 emerging companies nationwide. USCONDEX was the only real-estate related firm chosen and was selected due to its vision to standardize and revolutionize the proliferating condo market, a vision that is expected to prosper in both up and down markets, in addition to being chosen due to its unparalleled inventory, ease of use, real-time execution and multi-faceted revenue sources. Each candidate company was evaluated on a scale of one to ten with judging criteria including the current stage of development (customers, revenue), competitive advantage and need in the marketplace, feasibility for success, and whether the company is VentureWorthy."
"These entrepreneurs represent some of the most promising emerging companies in the U.S. this year, including USCondex, which has made a huge impression on the early-stage venture and angel investor community," said Joe Rubin, Director of FundingPost. "They are a well organized, fast-growth company and the investors in our competition saw that."
USCONDEX, which aims to be the "eBay of the condo market", is a one-stop marketplace where buyers, sellers, developers and financial intermediaries can access virtually every possible piece of data they need for informed condo decision making right online. The exchange offers buyers and brokers exhaustive research capabilities so they can make the most educated purchase possible; the service provides sellers cost-effective access to a worldwide customer base; and offers developers and financial intermediaries objective real- time data for development and underwriting decisions. The U.S. Condo Exchange's goal is to increase liquidity and standardization to revolutionize the $190-billion plus U.S. condo market.
"We know it's the right time for our vision and our condo exchange," said James Haft, Chief Financial Officer of the U.S. Condo Exchange.
Already as a result of this contest, USCONDEX has been approached by numerous venture capital firms potentially interested in investing with the online exchange. Just this month, the exchange added $1.5 billion of condo units in the Orlando and Tampa markets to its website, bringing the total condo inventory in Florida alone to over $12 billion, more than 40,000 listings, with a nationwide rollout planned to follow.
The online exchange is an easy to navigate site that includes convenient side-by- side condo comparisons and satellite tours, along with a vast array of resources including everything from comparative market studies, an affordability calculator, and mortgage pre-qualification, to information on pre-construction investing, 1031 exchanges, and metric and currency converters. The exchange also directs participants to condo inspectors, attorneys, developers, lenders and escrow agents, as well as local services such as the nearest doctor, supermarket, school, movie theatre and more.
Other Top-50 winners in the emerging company competition included CSX Fiber Networks of Virginia, a provider of network and infrastructure services to large carriers such as AT&T and MCI that offers significantly improved price/performance of communications networks; Controlled Semiconductor, Inc. of Florida, a manufacturer of LCD and semiconductor process equipment that holds several patents and is three to five years ahead of its only competitor, and; Innovation Asset Group (IAG), Oregon, a next-generation software company that enables companies, in real-time, to track and manage the most valuable of their assets, their intellectual property and other intangibles.
Other Florida companies that joined USCONDEX in the top 50 were Helissio Technologies Inc., Cytorex Biosciences Inc., and Cyclone Technologies LLP.
About FundingPost - FundingPost, www.fundingpost.com , works with thousands of angel and venture capital investors and entrepreneurs, and has events attended by over 2,500 Chief Executive Officers and 400 venture capital funds in cities nationwide. FundingPost's deal-exchange website has, on average, seen an introduction of an investor to an entrepreneur every business day since its inception.
The "Pitching Across America" competition was sponsored by Wolf Block, and PR Newswire. Wolf Block, www.wolfblock.com, is a 100-year old law firm with a proficiency in assisting companies from conception through the venture capital stage and into public offering for exit sale. PR Newswire, www.prnewswire.com, is the global leader in news and information distribution services for professional communicators.
About The US Condo Exchange - USCONDEX, www.uscondex.com, was founded by principals of Miami-based Swerdlow Group, www.swerdlow.com, one of the preeminent real estate development firms in the Southeastern U.S., and Pacific Alliance Limited, LLC, www.palcapital.com, a New York-based merchant bank specializing in e-commerce, communications businesses, technology and emerging markets. The firm's offices are located in Miami and New York City
"These entrepreneurs represent some of the most promising emerging companies in the U.S. this year, including USCondex, which has made a huge impression on the early-stage venture and angel investor community," said Joe Rubin, Director of FundingPost. "They are a well organized, fast-growth company and the investors in our competition saw that."
USCONDEX, which aims to be the "eBay of the condo market", is a one-stop marketplace where buyers, sellers, developers and financial intermediaries can access virtually every possible piece of data they need for informed condo decision making right online. The exchange offers buyers and brokers exhaustive research capabilities so they can make the most educated purchase possible; the service provides sellers cost-effective access to a worldwide customer base; and offers developers and financial intermediaries objective real- time data for development and underwriting decisions. The U.S. Condo Exchange's goal is to increase liquidity and standardization to revolutionize the $190-billion plus U.S. condo market.
"We know it's the right time for our vision and our condo exchange," said James Haft, Chief Financial Officer of the U.S. Condo Exchange.
Already as a result of this contest, USCONDEX has been approached by numerous venture capital firms potentially interested in investing with the online exchange. Just this month, the exchange added $1.5 billion of condo units in the Orlando and Tampa markets to its website, bringing the total condo inventory in Florida alone to over $12 billion, more than 40,000 listings, with a nationwide rollout planned to follow.
The online exchange is an easy to navigate site that includes convenient side-by- side condo comparisons and satellite tours, along with a vast array of resources including everything from comparative market studies, an affordability calculator, and mortgage pre-qualification, to information on pre-construction investing, 1031 exchanges, and metric and currency converters. The exchange also directs participants to condo inspectors, attorneys, developers, lenders and escrow agents, as well as local services such as the nearest doctor, supermarket, school, movie theatre and more.
Other Top-50 winners in the emerging company competition included CSX Fiber Networks of Virginia, a provider of network and infrastructure services to large carriers such as AT&T and MCI that offers significantly improved price/performance of communications networks; Controlled Semiconductor, Inc. of Florida, a manufacturer of LCD and semiconductor process equipment that holds several patents and is three to five years ahead of its only competitor, and; Innovation Asset Group (IAG), Oregon, a next-generation software company that enables companies, in real-time, to track and manage the most valuable of their assets, their intellectual property and other intangibles.
Other Florida companies that joined USCONDEX in the top 50 were Helissio Technologies Inc., Cytorex Biosciences Inc., and Cyclone Technologies LLP.
About FundingPost - FundingPost, www.fundingpost.com , works with thousands of angel and venture capital investors and entrepreneurs, and has events attended by over 2,500 Chief Executive Officers and 400 venture capital funds in cities nationwide. FundingPost's deal-exchange website has, on average, seen an introduction of an investor to an entrepreneur every business day since its inception.
The "Pitching Across America" competition was sponsored by Wolf Block, and PR Newswire. Wolf Block, www.wolfblock.com, is a 100-year old law firm with a proficiency in assisting companies from conception through the venture capital stage and into public offering for exit sale. PR Newswire, www.prnewswire.com, is the global leader in news and information distribution services for professional communicators.
About The US Condo Exchange - USCONDEX, www.uscondex.com, was founded by principals of Miami-based Swerdlow Group, www.swerdlow.com, one of the preeminent real estate development firms in the Southeastern U.S., and Pacific Alliance Limited, LLC, www.palcapital.com, a New York-based merchant bank specializing in e-commerce, communications businesses, technology and emerging markets. The firm's offices are located in Miami and New York City
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