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CoStar Group Named to Northern Virginia Technology Council’s 2022 Tech 100 List
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Rhea-AI Summary
CoStar Group (NASDAQ: CSGP) has been recognized as a Tech 100 Honoree by the Northern Virginia Technology Council, highlighting its substantial growth. The company recently joined the S&P 500 Index and has expanded its workforce by 25%, now employing over 5,400 people. Additionally, CoStar broke ground on a research and technology center in Richmond, Virginia, expected to create 2,000 new jobs. This recognition underscores CoStar's commitment to innovation and quality in real estate analytics.
Positive
Inclusion in the S&P 500 Index signaling strong market position.
25% employee growth, totaling over 5,400 employees.
Groundbreaking of a new research and technology center expected to add 2,000 jobs.
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None.
WASHINGTON--(BUSINESS WIRE)--
CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, has been selected as a Tech 100 Honoree by Northern Virginia Technology Council (NVTC), the membership and trade association for the Northern Virginia technology community.
The NVTC Tech 100 nomination continues a remarkable year for CoStar Group in terms of company and employee growth. Recently CoStar Group was selected for inclusion in the S&P 500 Index, one of the premier benchmarks of the U.S. equities market. The company continues to focus on internal and external growth, now with over 5,400 employees – a substantial 25% increase since the start of the year – and over 25 brands around the world, including recent expansion in European markets.
This year, CoStar Group also celebrated the groundbreaking of its research and technology center expansion in Richmond, Virginia. With the two new buildings, CoStar plans to introduce an additional 2,000 jobs to the one-million-square-foot corporate campus, solidifying its position as the largest technology company and one of the largest private employers in Richmond.
“It’s an honor to have CoStar Group recognized as one of the top technology companies in the Greater Washington area,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “This nomination is a reflection of our continued commitment to hiring top-tier talent, driving new product development and pursuing the highest quality information to better serve our clients and team members. Thank you to NVTC for this recognition and thank you to all of our employees for contributing to this moment and working tirelessly every day to make CoStar the global leader in real estate analytics.”
“2022 has been a year of tremendous growth for our region’s technology hub, thanks to the dynamic companies and individuals who are innovating and making a positive impact in the world. Their contributions are the reason our region is one of the nation’s most vibrant and collaborative technology communities,” said Jennifer Taylor, President and CEO of NVTC. “NVTC congratulates CoStar Group for going above and beyond within their company and in their respective industries. Even in these unprecedented times, the future of our tech community is brighter than ever, because of the momentous contributions of these leaders and companies.”
The NVTC Tech 100 honors the top companies and leaders in the Greater Washington technology community. With categories representing the most important and growing sectors in the region’s tech industry, this program highlights the cutting-edge companies who are driving innovation, implementing new solutions for their customers and leading the region’s growth.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of 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.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar Group's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that CoStar Group’s business, expansion, construction and growth plans and needs change; the risk that the expansion plans do not create or result in the expected benefits or result in CoStar Group becoming the largest technology company in Richmond; the possibility that the Company is unable to or does not create the number of jobs expected; and the risk that the Company is unable to hire or retain the number of employees currently expected or to fill the number of jobs created. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar Group's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2021, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.
