Industry NewsTechnology

Online real estate cos. vie for investors

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SAN FRANCISCO–The days of winning millions in investment capital with an idea and a PowerPoint presentation may be gone forever, but there is still plenty of money out there for new online ventures, said a panel of investment specialists and beneficiaries who spoke during Inman News' Real Estate Connect 2004 conference Thursday. The panel, "Investing in online real estate: Who is interested and why?" featured Michael Montgomery, president of Montgomery & Co. investment banking firm, as panel moderator. Investors these days are looking for companies that already have one foot forward, panelists said. Klaus Kosh, of Kline Hawkes & Co., a private equity investment company that manages about $300 million in capital, said that online investing has "obviously gone through a tough time over the last couple of years," but "there is still a lot of people out there with capital. I think there's too many people out there with money, still." Benjamin Cukier, principal at ...