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Engineering News-Record and Architectural
Record Each Win 2002 Jesse H. Neal Awards
McGraw-Hill
Construction Information Group Publications Recognized for Editorial
Excellence in Business Journalism
Construction.com and BuildPoint Finalize Strategic
E-Commerce Partnership
New York & Redwood
City, CA, August 29, 2000 - Construction.com, the most comprehensive
online marketplace for construction professionals and part of The
McGraw-Hill Companies (NYSE: MHP), and BuildPoint Corporation, the
leading e-commerce company for the construction industry, announced
today the finalization of a strategic agreement that further establishes
construction.com as the leading eMarketplace and information resource
for construction on the Internet and solidifies BuildPoint as the
leading e-commerce construction marketplace platform.
The two companies also announced that construction.com
has made an investment in BuildPoint. The exact amount of the investment
was not disclosed.
According to the agreement, construction.com will exclusively use
BuildPoint's marketplace infrastructure as its e-commerce engine
to power bidding and procurement tools on the site. This partnership
will provide the industry’s most powerful online project bidding
tool, F.W. Dodge’s e-Leads service, and building products procurement
tool, Sweet’s Online, to the largest user base in the industry.
The agreement also allows BuildPoint’s network of suppliers access
to construction.com’s established base of construction projects,
products, and professionals. Construction.com’s extensive network
of manufacturers will have access to BuildPoint’s supplier development
expertise in e-commerce and the BuildPoint community of registered
construction companies Together, construction.com and BuildPoint
will offer the industry’s largest trading community.
Construction.com and BuildPoint will integrate two components of
BuildPoint’s e-commerce platform, - one a bidding application in
combination with the F. W. Dodge project marketplace, and the other
a procurement application for the purchase and sale of construction
related goods and services in combination with the Sweet’s product
marketplace. Construction.com will use BuildPoint’s applications,
and both will be branded "Powered by BuildPoint."
"As a result of this agreement, coupled with the emergence of our
Sweet’s Online component and our new F.W. Dodge e-Leads web offering,
construction.com is now firmly established as the leading construction
destination and eMarketplace portal on the Internet. This agreement
further enhances our goal of leading the construction industry and
our customers by providing and facilitating content, community and
commerce on the Internet," said Norbert W. Young, Jr., FAIA, president,
McGraw-Hill Construction. "We chose BuildPoint over the other companies
in this space because BuildPoint is the only provider of a true
working online e-commerce platform with extensive expertise in developing
and powering online marketplaces for the construction industry."
"This partnership clearly demonstrates that BuildPoint is delivering
the premier e-commerce platform for the construction industry and
provides BuildPoint much greater visibility and reach within the
construction community," said James Piraino, president and CEO,
BuildPoint. "Combining the experience of two industry leaders, construction.com
with extensive relationships and visibility and BuildPoint with
advanced e-commerce technology, will create a solution that increases
the opportunities for our combined customers exponentially."
Construction.com is the industry leader in content and community
through F.W. Dodge, with details on more than 500,000 projects valued
at over $1 trillion and Sweet’s, which updates information on over
53,000 specifiable building products from over 10,000 manufactures,
and is the top decision-making resource for 90 percent of the nation’s
architects and design professionals.
About construction.com
Construction.com is the industry marketplace that enables construction
professionals to do their job faster, better and cheaper. Building
on The McGraw-Hill Companies’ heritage as the world’s premier information
provider to the $1.7 trillion commercial construction industry,
construction.com uses the Internet to help its customers to get
the latest industry intelligence and interactive solutions that
help professional decision-makers do their jobs successfully. By
leveraging the powerful content of The McGraw-Hill Companies’ leading
editorial brands, including F.W. Dodge, Sweet’s Group, Engineering
News-Record, Architectural Record, and Design-Build, construction.com
integrates unmatched market intelligence, unique project management
tools, and end-to-end access to the construction community. Construction.com
employs more than 1,700 professionals around the world.
About the McGraw-Hill
Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global
information services provider serving the financial services, education
and business information markets through leading brands such as
Standard & Poor’s, Business Week and McGraw-Hill Education. The
corporation has more than 400 offices in 32 countries. Sales in
1999 were $4.0 billion. Additional information is available at www.mcgraw-hill.com.
About BuildPoint Corporation
BuildPoint Corporation, the leading e-commerce company for the $3.2
trillion construction industry, delivers fast, reliable and secure
e-commerce applications for the industry’s largest community focused
on c ontractors and suppliers. BuildPoint.comSM is an
online marketplace that allows buyers and sellers to negotiate for
and procure construction products and services online; provides
online bid solicitation management and lead generation; and offers
financial services including insurance and lending.
More than 15,000 member companies transact business over BuildPoint.com,
including more than 40 of the Engineering News Record’s Top
400 General Contractors. Since November, 1999, more than $20 billion
in project volume has been transacted over BuildPoint.com.
BuildPoint is venture backed by Chase Capital Partners, SAP Ventures,
Techfund Capital, Thomas Weisel Partners, and Vortex Partners. The
company is headquartered in Redwood City, Calif., with sales offices
nationwide. For more information on BuildPoint, visit www.buildpoint.com
or send e-mail to info@buildpoint.com.
construction.com Contacts:
William Jordan
The McGraw-Hill Companies
(917) 543-4694 – cell
(212) 512-3640 – office
william_jordan@mcgraw-hill.com
John Puccio
Ruder Finn
(212) 593-6389
puccioj@ruderfinn.com
BuildPoint Contacts:
Becky Wood DiSorbo
BuildPoint Corp.
(650) 620-1578
becky.wood@buildpoint.com
Brooke Deterline
the blueshirt group
(415) 217-4964
brooke@blueshirtgroup.com
© 2001 The McGraw-Hill Companies - All Rights
Reserved
construction.com – Construction Career Center
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