Bucks for Xlibris

Management Moves

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Published in U.S. 1 Newspaper on April 5, 2000. All rights reserved.

Accu-Search, RealtourExpress, and Xlibris,

E-mail: BarbaraFox@princetoninfo.com

Like Glenn Cohen, founder of YourHome Direct.com (see

page 15) Philip R. Davis knows a thing or two about streamlining the

real estate business on the Internet. He founded his first company,

Accu-Search Inc. (www.accusearch.com), in 1991 to provide data

to title search companies and attorneys by electronically scanning

municipal records and resorting them in databases. These records are

now available on the Internet, and Accu-Search also uses the Internet

to deliver the documents necessary for residential and business closings.

"On the East Coast we have a long road ahead of us to digitize

the documents and put this online," says Davis. He is based in

Keyport and has opened an office on Parkway Avenue for the corporate

division of Accu-Search, to provide fast, easy access to the state’s

commercial records.

Accu-Search’s biggest customer is Harold Denton, head of the largest

title company in New Jersey, General Land Abstract, at 2 Research

Way. "Their work is very simply very accurate," says Denton.

He notes that electronic transmittal is also more efficient. "We

are making money off of accuracy and reduction in processing costs,"

says Denton.

Like Accu-Search, Davis’ third company, RealtourExpress, is a business-to-business

company; its customers are real estate professionals (www.realtorexpress.com).

Headed by Jacqueline Kajzer, this firm offers virtual walk-through

software — a series of seven color pictures — for up to 50

homes for $1,200 per year.

A native of Rockland County, New York, Davis is the son of a computer

systems analyst and the president of Miami City Ballet; he went to

University of Massachusetts at Amherst, Class of 1985. He worked at

Techniscan, the first company to do tax searches in New Jersey, then

with Entre Computers, and left to found his own business, which now

has 70 employees and revenues of $8 million.

Accu-Search Inc., 1450 Parkside Avenue, Ewing 08638.

609-637-9100 or 888-778-7760; fax, 609-637-9222. Clyde Kochak, branch

manager.

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Bucks for Xlibris

Xlibris, an on-demand publishing company that was incubated

at the Trenton Business and Technology Center — and one in which

Michael Cooper is a major investor — is selling as much as 49

percent of its stock to Random House Ventures LLC. Though this investment

had been expected (U.S. 1, March 1) the deal was only announced on

Monday.

Xlibris was founded in 1997 (U.S. 1, May 6, 1998), and is now located

in Philadelphia. Xlibris’ David Hisbrook will be on a Princeton Chamber

panel on Wednesday, April 19, at 7:45 a.m. at the Nassau Club (Cost:

$21, call 609-520-1776).

The deal will change the Xlibris business model. Instead of charging

authors $450 to prepare their manuscripts for online ordering, this

will be a free service, and authors will pay only for galleys and

customized book covers.

The deal is also expected to change Random House. An article in the

Wall Street Journal predicts that "the move is likely to galvanize

the world’s largest English-language book publisher." Random House

will now get its hands on the market for books selling less than 1,000

copies, and it has already begun to digitize its backlist of titles

for electronic distribution.

Random House is a subsidiary of Bertelsmann, the German media conglomerate

and one of the first major publishers to make a significant investment

in a cyberspace book company. Barnes & Noble made a similar deal with

a major competitor of Xlibris, iUniverse.com, in November.

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Management Moves

Reed Smith Shaw & McClay LLP, 136 Main Street,

Suite 250, Princeton 08540-5799. 609-987-0050; fax, 609-951-0824.

Home page: www.rssm.com.

Leonard A. Bernstein is the new administrative partner of both the

Princeton and the Newark offices of the Philadelphia-based firm. The

son of a tax accountant and Air Force veteran, he is an alumnus of

University of Pennsylvania, Class of 1980, and Temple law school;

he is not related to the composer.

Bernstein, whose practice centers on consumer credit compliance, founded

the Princeton office in 1992, and now it has 55 attorneys, with 15

more in Newark. Focuses include healthcare, financial services, international,

high tech, and commercial litigation.


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