VanquishAP, an early stage company that was developing software tools for 3rd party commercial real estate property managers, building owners and tenants, has left startup accelerator Project Skyway, according to co founder and CEO Kyle Jordahl.
Jordahl explains that “VanquishAP began as a real estate services company — first and foremost — alongside which we were exploring the possibilities of licensing the software that we had originally created for internal purposes.”
He described a scenario where VanquishAP’s core business of property management services “had picked up tremendously over the past few weeks,” while at the same time, “the team felt that made more sense not to pursue a model of re-selling the proprietary software created and leveraged in house.”
“We think that our twist of services plus automated technology is so powerful that the best option is to build our business around that. Bottom line is that we’re just looking out for the best interest of our company,” he concluded before voting with co founder John Ziemann to break off from Project Skyway.
It’s unclear precisely when the shift originally occurred, but what is clear that not everyone agreed with the decision; seizing the vacant seat alongside five other startups is a spin-off by former VanquishAP partner and CTO Alex Reilly called CribFrog.
The entrepreneur is now creating a social networking platform for apartment/condo managers and their tenants. “Using Facebook API and SMS, we’re going to make it easy for property managers to engage in closed-loop communications with those who live within their community,” says Reilly, who recently recruited the young and talented Devin Rhode for product development support.
“These changes certainly set us back from where we’d otherwise like to be, but we’re at it around the clock to see CribFrog into production and have working technology ready in time for Demo Day,” he notes.
Project Skyway’s founder, Cem Erdem, had this to say regarding the matter:
“VanquishAP had received some notable traction in their property management business since bootcamp time. I think that they also realized that a lot goes into building a software company and had to make a decision that was most aligned with their core business model. We collectively discussed the situation and mutually agreed that the best thing to do was for VanquishAP to pursue their growth outside of Project Skyway. We are continuing to work with Alex on a different property management solution called CribFrog and we’re happy he’s with us.”