CoStar Group

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CoStar Group, Inc.
Public company
Traded asNASDAQCSGP
Russell 1000 Index Component
IndustryTechnology, Commercial property
Founded1987; 32 years ago (1987)
FounderAndrew Florance
HeadquartersWashington, D.C.
Area served
United States, Canada, United Kingdom, France, Germany, Spain
Key people
Andrew C. Florance, President & CEO
Scott T. Wheeler, CFO
Michael R. Klein, Chairman
RevenueIncrease $1.2 billion (2018)
Increase $238 million (2018)
Total assetsIncrease $3.313 billion (2018)
Total equityIncrease $3.022 billion (2018)
Number of employees
3,705 (2018)
Websitewww.costargroup.com
Footnotes / references
[1]

CoStar Group is a provider of information, analytics and marketing services to the commercial property industry in the United States, Canada, the United Kingdom, France, Germany, and Spain.[1]

History[edit]

CoStar Group was founded in 1987 by Andrew Florance in Washington, D.C.

In 1998, the company became a public company via an initial public offering on the NASDAQ, raising $22.5 million.[2]

In 2004, CoStar Group, Inc. v. LoopNet, Inc. became a landmark case in copyright law.

In October 2009, the company acquired a building in Washington, D.C., now its headquarters, from the Mortgage Bankers Association for $41.3 million. The building had sold 2 years earlier for $79 million and the company claims it used its analytics data to know the right time to buy.[3]

In April 2012, CoStar Group acquired LoopNet for $860 million.[4][5]

In April 2014, the company acquired Apartments.com for $585 million.[6]

In April 2015, the company acquired Apartment Finder for $170 million.[7]

In February 2017, the company acquired Westside Rentals.[8]

In February 2018, the company acquired ForRent.com from Dominion Enterprises for $350 million in cash and $35 million in stock.[9]

In October 2018, the company acquired Realla.co an online marketplace for commercial property based in the United Kingdom.[10]

In November 2018, the company acquired Cozy Services for $68 million.[11]

In February 2019, the company announced that Oxford Economics will provide the economic data and forecasts used in CoStar’s products.[12]

References[edit]

  1. ^ a b "CoStar Group, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Crunchbase: CoStar Group". TechCrunch.
  3. ^ Hagerty, James R. (February 6, 2010). "Mortgage Bankers Association Sells Headquarters at Big Loss". The Wall Street Journal.
  4. ^ Sernovitz, Daniel J. (April 30, 2012). "CoStar Group completes LoopNet deal". American City Business Journals.
  5. ^ "CoStar Completes LoopNet Acquisition". National Real Estate Investor. May 1, 2012.
  6. ^ O'Connell, Jonathan (March 3, 2014). "CoStar Group buys Apartments.com for $585 million". The Washington Post.
  7. ^ "CoStar Group to Acquire Apartment Finder to Expand Its Network of Industry Leading Apartment Marketing Websites" (Press release). GlobeNewswire. April 29, 2015.
  8. ^ Ellingson, Annlee (February 2, 2017). "Westside Rentals finds new home at Apartments.com". American City Business Journals.
  9. ^ Neibauer, Michael (February 20, 2018). "Growing CoStar to close its latest buy, this one for nearly $400M". American City Business Journals.
  10. ^ Evans, Judith (October 12, 2018). "US real estate giant CoStar buys UK commercial property portal". Financial Times.
  11. ^ "CoStar Group Acquires Cozy Services Ltd., with Plans to Integrate its Innovative Renter Screening and Rent Payments Solutions into Apartments.com" (Press release). PR Newswire. November 8, 2018.
  12. ^ Sweat, Meagna (February 14, 2019). "CoStar Group Announces Agreement with Oxford Economics" (Press release). Business Wire.