CoStar Group

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CoStar Group, Inc.
Public
Traded as NASDAQCSGP
Russell 1000 Component
Russell 2500 Component
Industry Technology, Commercial Real Estate
Founded 1987; 31 years ago (1987)
Founder Andrew Florance
Headquarters Washington, D.C., U.S.
Area served
United States, Canada, United Kingdom, France, Germany, Spain
Key people
  • Andrew Florance (President & CEO)
  • Scott Wheeler (CFO)
  • Michael Klein (Independent Chairman of the Board)
Products Commercial real estate information and marketing
Revenue Increase US$ 965 million (2017)[1]
Number of employees
Approximately 3,700
Website Corporate website

CoStar Group is a provider of commercial real estate information, analytics, and online marketplaces. Its headquarters are located in Washington, D.C. CoStar has been a publicly traded company since 1998, and trades under CSGP on the NASDAQ stock exchange.

Since CoStar’s founding in 1987, the company has expanded its presence globally by adding office facilities in Canada, United Kingdom, France, Germany, and Spain. The company currently has 4,275 employees, overseeing twenty-one unique brands and websites.

In 2016, CoStar Group officially announced that Richmond, Virginia was the selected site for its research operations headquarters.

History[edit]

CoStar Group, Inc. (CoStar) was founded in 1987 by Andrew Florance in Washington, D.C.. CoStar is a provider of information, analytics and marketing services to the commercial real estate industry in the United States, Canada, the United Kingdom, France, Germany and Spain. The company’s suite of online service offerings includes information about space available for lease, comparable sales information, tenant information, information about properties for sale, Internet marketing services, analytical capabilities, information for clients' Websites, information about industry professionals and their business relationships, data integration and industry news. Its service offerings span all commercial property types, including office, industrial, retail, land, mixed-use, hospitality and multifamily. CoStar Group went public in 1998 and is traded on the NASDAQ under the symbol CSGP. In April 2012, CoStar Group completed the acquisition of LoopNet, Inc for $860 million.[2] In April 2014, CoStar Group completed the acquisition of Apartments.com for $585 million.[3] In April 2015, CoStar Group announced an agreement to acquire Apartment Finder.[4] In October 2016, CoStar Group announced that Richmond, VA will be the new research headquarters. In 2017, CoStar Group acquired Westside Rentals.[5] In September 2017, CoStar Group purchased ForRent.com from Dominion Enterprises for $350 million in cash and $35 million worth of stock.[6][7]

Marketing[edit]

Costar introduced Apartments.com in a set of ads in 2015 portraying fictional character Brad Bellflower, a tech futurist portrayed by Jeff Goldblum.[8]

References[edit]

  1. ^ "CoStar Group Inc - Investor Relations". Retrieved February 21, 2018.
  2. ^ "CoStar Purchase of LoopNet Cleared by FTC With Sale of Stake". Bloomberg. April 26, 2012.
  3. ^ "CoStar to Acquire Apartments.com for $585 Million". The Wall Street Journal. March 3, 2014.
  4. ^ "CoStar makes another push into the digital apartments sphere with a $170M buy". Washington Business Journal. April 30, 2015.
  5. ^ "Westside Rentals finds new home at Apartments.com". LA Biz. February 2, 2017.
  6. ^ web, The Virginian-Pilot / from the. "Norfolk-based Dominion Enterprises sells ForRent.com". dailypress.com. Retrieved 2017-10-06.
  7. ^ Pierceall, Kimberly. "Parent company of The Virginian-Pilot sells ForRent.com for $350 million". Virginian-Pilot. Retrieved 2017-10-06.
  8. ^ Kristina Monllos, Jeff Goldblum Is Back in New Ads for Apartments.com, This Time Directed by Bob Odenkirk: 10 spots rolling out from RPA, Ad Week, March 31, 2016