Business News Names New CEO

2008-07-15 10:30:00

Michael W. Malone to Lead Fast-Growing Online Real Estate Company

SARASOTA, Fla.–(EMWNews)–, a map-based

online real estate search, today announced the appointment of Michael W.

Malone as Chief Executive Officer. One of the technology industry’s most

successful entrepreneurs, Malone has launched several innovative

companies, introduced leading-edge online applications and raised more

than $50 million in his 22-year career.


is leading the online evolution of the real estate model,

said Malone, who was previously president and COO of RemedyMD®,

a market leader in the use of predictive informatics to recognize

patterns, personalize treatment, and measurably improve healthcare

outcomes. After analyzing the company’s

growth potential, I believe PropertyMaps has the opportunity to dominate

the Internet real estate category. is a user-friendly, one-stop-shop Web site that allows

consumers to quickly search the actual Multiple Listing Service (MLS)

databases used by Realtors® nationwide by

using popular mapping tools such as Google Maps, Google Earth, and

Microsoft Virtual Earth.

PropertyMaps has more than 2 million listings – one of the largest on

the Internet.

In addition to lead generation and advertising services, Malone said

PropertyMaps plans to capitalize on its technology investment by selling

data services to national real estate organizations in the investment

community. We will apply predictive

informatics technology at PropertyMaps, just as predictive analytics

applications are used on Wall Street for trading purposes,

he said.

After securing bridge funding from Houston-based Merrick Capital, the

fast-growing company recently signed a memorandum of understanding to

issue a $20 million Series A syndicated offering.

Nearly a decade ago, Malone was named to Sm@rt Reseller’s “Top 10 in

Technology” ranking, behind only Steve Jobs at Apple and John Chambers

at Cisco. He has served as president and COO for IBRIX, a leading

provider of scalable file serving solutions, and was the president and

founder of CTS Companies, an innovator in storage technology services.

In addition, Malone was executive vice president of Dickens Data

Systems, where he managed sales, distribution, and an architectural

application development team.

At CTS, Malone held senior leadership roles, managing more than 250

engineers and developers, successfully driving sales, customer service,

partner programs and services.

Agyilysis ultimately acquired the company for $42 million in 2005.

As a senior executive at IBRIX and REMEDY MD, Malone expanded direct

sales and launched partner programs that allowed both companies to have

OEM and reseller relationships with HP, DELL, IBM, and EDS. He also

raised more than $49 million in both venture and institutional capital

for the two companies.

Our team was able to drive lead generation

and substantially the Web presence for CTS, IBRIX, and Remedy MD,

said Malone. We began the search engine

optimization efforts for all three companies and drove Web leads to new

highs at each entity.

Malone was also a founding member of the EMC Partner Council, building

relationships between the industry-leading storage company and its

vendors and distributors. He currently sits on two other boards and

manages Jupiter Bowl, a family entertainment center in Park City, Utah,

owned by the Malone Investment Group.

Malone received a Bachelor of Science degree from Southeastern Louisiana

University (SLU) in Management and Computer Science.

Using popular mapping tools such as Google Maps, Google Earth, and

Microsoft Virtual Earth, enables people to quickly

search and easily visualize millions of real estate listings by plotting

their locations and local market data free of charge.

is the first Internet site to provide map-based access to the authentic

Multiple Listing Service (MLS) databases that are used by Realtors®


PropertyMaps also delivers the content wirelessly to Internet-enabled

phones, PDAs, GPS-enabled and other mobile devices. Visitors are also

able to access foreclosure or pre-foreclosure homes on,

through a partnership with RealtyTrac (,

the leading online marketplace for foreclosure properties.

Since its launch in October 2006, PropertyMaps has signed strategic

alliances with major partners in the United States, India, United

Kingdom and Latin America, and will continue to expand its international

presence with the launch of a formal partner program in 2008.

Keyword Tags: mls real estate search, real estate search, search

real estate, venture capital
Allison Moore, 941-758-4912
[email protected]

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