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Hipschman: Vertical Software Plays Always Have Been and Always Will Be Dangerous

NEW YORK CITY-As real estate e-technology companies come and go, including the current trials of CapitalEngine.com, Julien J. Studley's chief technology officer tells GlobeSt.com that software specialized to only one industry use is a dangerous investment.

By Amy Vaughn | Updated on February 16, 2001

NEW YORK CITY-It was just last year when e-technology companies were promising to revolutionize real estate with industry specific software to streamline operations and offer customers new options. By the third quarter 2000 industry heavy hitters were racing to throw money at new ventures, and by the fourth quarter many were already in trouble. Jeffrey Hipschman, CTO for Julien J. Studley says this shouldn’t surprise anyone as vertical software plays, “have always been and always will be dangerous.”

CapitalEngine.com, for example, was presented as venture that promised to provide an on-stop shop for debt and equity capital. Back in lat September 2000 they had announced a marketing partnership with AmeriQuotes.com to share customers. Now GlobeSt.com has learned sources at CapitalEngine.com’s parent company, Greenwich International are saying, following the reported dismissal of its president and CEO Jeffrey M. Gault, that the e-venture will be folded into Greenwich and will no longer exist as its own company.

An interview with the company’s founder and COO, Ben Milde, was scheduled and rescheduled with this reporter with Milde noting, “I would love to keep you in the loop of what we perceive to be some exciting developments for our company” in response to direct questions about the insider reports. After prolonged back and forth emails and phone calls to pursue the story, finally CapitalEngine.com ceased returning messages and never rescheduled the interview.

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