CoStar Group Founder and CEO Andy Florance Recognized on Commercial Observer’s 2023 Power Proptech List

Rhea-AI Summary

CoStar Group's CEO, Andy Florance, has been named one of the most powerful people in commercial real estate proptech for the second consecutive year.

Positive

• CoStar Group has continued to witness incredible growth in earnings and website traffic.
• In September 2023, CoStar Group's network of U.S. real estate websites saw over 160 million monthly unique visitors.
• Homes.com achieved 100 million unique monthly visitors, becoming the second most heavily trafficked real estate portal in the U.S.

Negative

• None.

WASHINGTON--(BUSINESS WIRE)-- Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, was named one of the most powerful people in commercial real estate proptech by Commercial Observer for the second consecutive year.

Andy has led the company from its founding in 1986, through its successful IPO in July 1998, to its market-leading position today as a dominant provider of commercial and residential real estate information, analytics, and online marketplaces. Despite much of the real estate industry experiencing a slowdown, CoStar Group has continued to witness incredible growth in earnings and website traffic across its industry-leading brands and is included in the S&P 500 Index and the NASDAQ 100.

The company has seen consistent positive financial results quarter-over-quarter for years. In September 2023, CoStar Group’s network of U.S. real estate websites saw over 160 million monthly unique visitors. In particular, Homes.com achieved 100 million unique monthly visitors, surpassing Realtor.com and Redfin to become the second most heavily trafficked real estate portal in the U.S.

“From the beginning, I’ve been a firm believer in the power of proptech and its ability to positively transform the commercial and residential real estate landscape,” said Florance. “We’ve built several successful platforms that adapt to ever-evolving market conditions and we work diligently to consistently introduce new opportunities, innovations and solutions to our clients and consumers. It’s an honor to be included on Commercial Observer’s Power Proptech list for the second year in a row and a true testament to the work our entire team has been able to accomplish.”

The annual Power Proptech list recognizes the most influential companies and people in the CRE proptech space who are driving change and innovation within the industry. More information about Commercial Observer’s Power Proptech List can be found here.

ABOUT COSTAR GROUP, INC.

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attract nearly 100 million unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017149419/en/

NEWS MEDIA

Matthew Blocher

CoStar Group

(202) 346-6775

mblocher@costargroup.com

Source: CoStar Group

FAQ

Who was named one of the most powerful people in commercial real estate proptech?

Andy Florance, the CEO of CoStar Group.

What is CoStar Group known for?

CoStar Group is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

What achievements has CoStar Group had?

CoStar Group has seen consistent positive financial results quarter-over-quarter for years and has a market-leading position as a provider of commercial and residential real estate information, analytics, and online marketplaces.

What milestone did Homes.com achieve?

Homes.com achieved 100 million unique monthly visitors, becoming the second most heavily trafficked real estate portal in the U.S.