Jun 22, 2016
CoStar Group Jumps to #11 on Forbes Most Innovative Growth Companies List
Fueled by a commitment to technological, research, and market innovation, CoStar Group, Inc. (NASDAQ: CSGP) was ranked number 11 on the Forbes Most Innovative Growth Companies list for 2016.
This is the third year CoStar has made the list – and represents a 16-spot jump for the company as it nears the top ten. The list includes leading firms identified by key investors as innovative now and in the future, and which are expected to deliver continued, profitable new growth.
“Being recognized by Forbes, the definitive leader in global business media, is both an honor and a reflection of our commitment to delivering immediate and precise information through technology innovation,” said Andrew Florance, CoStar Group Founder and CEO.
“Across our business, we’re passionate about breaking the barriers that once made commercial real estate information inaccessible,” he continued. “Our mission is to deliver the intelligence edge our clients demand and the technologies that help our customers and consumers unlock new opportunities. Together, we apply the power of technology to the real estate industry to help markets and communities realize new benefits.”
CoStar has provided the most comprehensive and accurate data and intelligence solutions available to professionals involved in every aspect of multifamily and commercial real estate, reshaping the commercial real estate landscape by delivering market research, insights, intelligence, transparency and efficiencies previously unavailable.
CoStar applied the same innovation to the apartment listing site industry after acquiring Apartments.com in 2014. The company immediately set out to deliver a new site offering the tools, information and user experience that renters sought – achieved through new technologies including immersive 3D tours and imagery, a proprietary PolygonTM search tool and other advancements – elevating the apartment listing site experience and driving qualified leads for advertisers to boot. Immediately upon re-launch, Apartments.com become the most trafficked apartment listing site according to comScore and has maintained that top spot ever since.
The Forbes Most Innovative Growth Companies list is developed annually, using a proprietary formula in collaboration with Credit Suisse. Forbes leverages an “innovation premium method” which relies on investors’ ability to identify firms they expect to be innovative now and in the future. To qualify for consideration, companies must have seven years of public financial data and a market capitalization under $10 billion.
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About CoStar Group
CoStar Group, Inc. (NASDAQ:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. 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. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10 million registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.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. Through an exclusive partnership with Move, a subsidiary of News Corporation, Apartments.com is the exclusive provider of apartment community listings across Move’s family of websites, which include realtor.com®, doorsteps.com and move.com. CoStar Group’s websites attracted an average of approximately 24 million unique monthly visitors in aggregate in the first quarter of 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of approximately 2,600 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar'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 the company is unable to deliver continued, profitable new growth or future innovation. 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'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, 2015, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, 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.