Xchange Adds To The List Of CRM Point Solutions' Casualties
P.J. Jakovljevic - March 27, 2003

Event Summary

According to many recent reports in the press, it appears that Xchange, Inc. (www.xchange.com), once one of the leading marketing automation and analytics providers, has very recently closed down its operations. Xchange was founded by Andy Frawley in 1994 as Exchange Applications Inc. The news possibly comes as not a big surprise to informed market observers and/or to many of the company’s customers, as it had at least for over a year been in a very difficult financial situation, and, consequently, it had frantically explored possible survival options like finding a buyer after a major restructuring in 2002 and/or seeking a deal to return to a privately-held status. However, having not succeeded at either, and when the cash was completely burned up, the vendor had no choice but to abruptly seize its operations after the bank foreclosure...