CoStar Group, Inc. is a leading provider of commercial real estate information, analytics, and online marketplaces. The company was founded in 1987 in Washington D.C. by Andrew C. Florance and has since expanded globally, with operations in the United States, Canada, the United Kingdom, France, Germany, Spain, and Italy. CoStar Group's mission is to create efficiencies in commercial real estate by providing industry professionals with comprehensive information and analytics through its suite of software products, and by facilitating transactions through its online marketplaces.
CoStar Group's flagship product, CoStar Suite, provides users with access to a vast database of information on commercial real estate properties, including information on leasing, sales, and property management. The suite also includes research, marketing, and analytical tools for users to create custom reports, evaluate market trends, and analyze real estate data. The company's suite of software products also includes LoopNet, a leading online marketplace for commercial real estate listings and tenant searches, and Apartments.com, a marketplace for apartment rentals.
In addition to its software products and online marketplaces, CoStar Group also provides research services through CoStar Market Analytics, which offers insights on market trends and forecasting. The company also offers advisory services through CoStar Advisory Services, which provides consulting services to real estate investors, lenders, and developers. CoStar Group's customer base includes real estate brokers, property owners and managers, lenders, and investors, among others.
Over the years, CoStar Group has made a number of acquisitions to expand its offerings and increase its market share. Notably, in 2012, the company acquired LoopNet, Inc., its main competitor in the online marketplace for commercial real estate listings. The acquisition allowed CoStar Group to expand its online marketplace and provide more services to its customers. In 2021, CoStar Group announced that it would acquire Homesnap, Inc., a leading provider of real estate technology solutions and a leading mobile productivity tool for real estate agents.
As of 2021, CoStar Group had approximately 5,500 employees worldwide and generated over $1.5 billion in revenue in the previous year. The company has been recognized as one of Forbes' World's Most Innovative Companies and as a Great Place to Work by Fortune magazine. CoStar Group has also been recognized for its commitment to environmental sustainability, with LEED-certified offices and a focus on reducing its carbon footprint.