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Updates to the article

[edit]

Hi, I would like to recommend some structural updates to the CoStar Group article for organization and clarity as now the article reads more like a list. Below I've included a suggested version of the History section - I added the subsections "Origins" and "Expansion," and distinguished the "Expansion" between the United States and Europe. I kept the original content but moved it into the appropriate subsections.

Revision proposal
History
Origins

CoStar Group was founded in 1987 by Andrew C. Florance in Washington, D.C.[1] It was reportedly one of the first companies that digitized and aggregated property data before the Internet was widely available.[1] In 1998, the company became a public company via an initial public offering on the NASDAQ, raising $22.5 million.[1] In 2004, CoStar Group, Inc. v. LoopNet, Inc. became a landmark case in copyright law about the role of an Internet Service Provider (ISP) in monitoring copyrighted content posted on its servers.[2]

Expansion
United States

In October 2009, the company acquired a building in, now its headquarters, from the Mortgage Bankers Association for $41.3 million. The building sold for $97 million two years earlier, and the company claims it used its analytics data to know the right time to buy.[3] In April 2021, CoStar Group acquired the online marketing site LoopNet for $860 million.[4][5] With the acquisition, CoStar Group also acquired Loopnet properties BizBuySell and LandsofAmerica.com.[6] In April 2014, the company acquired Apartments.com for $585 million.[7] In April 2015, the company acquired Apartment Finder for $170 million.[8] In February 2017, the company acquired Westside Rentals.[9] In March, the company acquired Spanish lending information platform Belbex.[10] In February 2018, the company acquired ForRent.com from Dominion Enterprises for $350 million in cash and $35 million in stock.[11] In November, the company acquired Cozy Services for $68 million.[12] In February 2019, the company announced that Oxford Economics would provide the economic data and forecasts used in CoStar's products.[13] In June, it was announced that CoStar Group would acquire Off Campus Partners, LLC, an online marketplace for off-campus student housing.[14] In October, it was announced that CoStar Group would acquire hotel research and analytics firm STR, Inc, for $450 million.[1] In May 2020, CoStar announced it acquired online real estate platform Ten-x, formerly Auction.com, for $190 million.[15][16] In October, CoStar Group bought Germany-based real estate data company Emporis.[17] In November, it was announced that CoStar Group acquired Homesnap, a residential mobile application provider, for $250 million in cash.[18] In April 2021, it was announced that CoStar Group acquired Homes.com, a residential real estate website from Dominion Enterprises, for $156 million in cash.[19] On April 22, 2024, it was announced that CoStar Group would acquire Matterport, a 3D spatial mapping company, for a cash and stock transaction deal at approximately US$1.6 billion.[20][21]

Europe

In May 2016, CoStar Group's European subsidiary CoStar Europe Ltd acquired German real estate business data company Thomas Daily.[22] In July 2016, the company acquired Belbex, an online marketplace and information provider for commercial property based in Spain, and in March the company acquired Spanish lending information platform Belbex.[10] In October 2018, the company acquired Realla.co.uk an online marketplace for commercial property based in the United Kingdom.[23] In October 2021, CoStar announced it was acquiring BureauxLocaux, a commercial property digital marketplace in France.[24] In October 2023, it was announced CoStar Group had acquired the London-headquartered property portal, OnTheMarket for £100 million.[25]

References

  1. ^ a b c d "Andy Florance On Buying STR, WeWork's Failed IPO And What CoStar Buys Next". Bisnow. October 2, 2019. Retrieved March 4, 2022.
  2. ^ "ISP not liable for copyright violations even after review of content". Reporters Committee for Freedom of the Press. June 22, 2004. Retrieved March 4, 2022.
  3. ^ Hagerty, James R. (February 6, 2010). "Mortgage Bankers Association Sells Headquarters at Big Loss". The Wall Street Journal.
  4. ^ Sernovitz, Daniel J. (April 30, 2012). "CoStar Group completes LoopNet deal". American City Business Journals.
  5. ^ "CoStar Completes LoopNet Acquisition". National Real Estate Investor. May 1, 2012.
  6. ^ "Blind ambition: CoStar's Andy Florance opens up about competition, sacrifice and those pesky Glassdoor rankings (Video)". Washington Business Journal. August 18, 2014. Retrieved March 4, 2022.(subscription required)
  7. ^ O'Connell, Jonathan (March 3, 2014). "CoStar Group buys Apartments.com for $585 million". The Washington Post.
  8. ^ "CoStar makes another push into the digital apartments sphere with a $170M buy". Washington Business Journal. April 30, 2015. Retrieved March 4, 2022.(subscription required)
  9. ^ Ellingson, Annlee (February 2, 2017). "Westside Rentals finds new home at Apartments.com". LA Business First.(subscription required)
  10. ^ a b "Belbex finalises its integration with CoStar Group". Iberian. March 16, 2017. Retrieved March 4, 2022.
  11. ^ Neibauer, Michael (February 20, 2018). "Growing CoStar to close its latest buy, this one for nearly $400M". American City Business Journals.
  12. ^ "CoStar Group Acquires Cozy Services Ltd., with Plans to Integrate its Innovative Renter Screening and Rent Payments Solutions into Apartments.com". GlobeSt. November 9, 2018. Retrieved March 4, 2022.
  13. ^ "CoStar appoints Oxford Economics as data partner for new Investor product". Property Week. August 13, 2010. Retrieved March 4, 2022.(subscription required)
  14. ^ "CoStar buys again, this time in the off-campus student housing space". Washington Business Journal. June 21, 2019. Retrieved March 4, 2022.(subscription required)
  15. ^ "CoStar Acquires Ten-X in $190 Million Deal". Wall Street Journal. May 14, 2020. Retrieved March 4, 2022.
  16. ^ "Auction.com rebrands as Ten-X, the 'future of real estate'". Housing Wire. January 11, 2016. Retrieved March 4, 2022.
  17. ^ "CoStar plots international push with Emporis buy". The Real Deal. October 27, 2020. Retrieved March 4, 2022.(subscription required)
  18. ^ "CoStar to Buy Homesnap for $250 Million". Wall Street Journal. November 22, 2020. Retrieved March 4, 2022.(subscription required)
  19. ^ "CoStar Group to Acquire Homes.com for $156M". RisMedia. April 15, 2021. Retrieved March 4, 2022.
  20. ^ "Matterport, the Global Leader in 3D Digital Twins, to be Acquired by CoStar Group". Matterport. 2024-04-22. Retrieved 2024-04-22.
  21. ^ "CoStar Group to Acquire Matterport, the Global Leader in Immersive 3D Digital Twins and Artificial Intelligence for the Real Estate Industry That Makes Properties Intuitive and Interactive Online". CoStar Group Investor Relations. 2024-04-22. Retrieved 2024-04-22.
  22. ^ O'Connell, Jonathan (May 5, 2016). "CoStar Group buys Apartments.comfor $585 million". S&P Global. Retrieved March 4, 2022.
  23. ^ Evans, Judith (October 12, 2018). "US real estate giant CoStar buys UK commercial property portal". Financial Times.(subscription required)
  24. ^ "CoStar Group Acquires BureauxLocaux, a Leading Commercial Property Digital Marketplace in France". Businesswire. October 1, 2021. Retrieved October 1, 2021.
  25. ^ "CoStar acquires OnTheMarket for £100m". Today's Conveyancer. 2023-10-25. Retrieved 2023-10-25.

Thank you in advance for your help in improving the article structure. Hbensur (talk) 20:35, 23 September 2024 (UTC)[reply]

I added an edit request template so someone will come by and review these changes. Chess (talk) (please mention me on reply) 21:16, 23 September 2024 (UTC)[reply]
 Done , but there are still issues with the article, namely WP:PROSELINE. The History section seems like just a list of acquisitions, which can be converted to a list or table format (see {{List of mergers and acquisitions by}} for examples). The Criticism section is not ideal and should preferably be merged into other sections (such as History), per WP:CSECTION. InfiniteNexus (talk) 21:54, 9 October 2024 (UTC)[reply]
Thank you InfiniteNexus for your help in restructuring this article! If you look below, based on your recommendation, I proposed some ideas for merging the Criticisms section into the other article sections.

Further Updates

[edit]

Following the restructure of this article, I'd like to suggest adding a "Marketing" subsection under "Business" with the following information: CoStar Group purchased an estimated $35 million worth of airtime during Super Bowl LVIII for four subsidiary Super Bowl commercials (three for Homes.com and one for Apartments.com).[1]

Second, as per InfiniteNexus's helpful recommendation, I would like to suggest moving the first two paragraphs of the "Criticism" section into the United States subsection of History so that it reads as follows:

"In April 2021, it was announced that CoStar Group acquired Homes.com, a residential real estate website from Dominion Enterprises, for $156 million in cash.[2] In February 2022, CoStar Group came under criticism when American news website Business Insider reported that over 29 current and former employees claimed to have been excessively monitored and micromanaged, including with unscheduled check-in video calls made by the company's IT department. Additional criticism included reports of employees being publicly berated and arbitrarily fired in some cases.[3][4] The company also reportedly made efforts to take down criticism of itself on various social media platforms.[3] The company denied the complaints, claiming that discontent came from the company's high expectations.[3] CoStar has been criticized for anticompetitive and monopolistic business practices, often using aggressive litigation and "public-relations warfare" to "push [competitors] to the brink of collapse or weaken them enough to make them soft targets for an acquisition".[5] Competitors that CoStar has sued include 42Floors, RealMassive, Zillow, RentPath, Xcelligent (now bankrupt), and LoopNet (now a subsidiary), among others."

I suggest creating a "Legal issues" subsection under "Business" and moving the third paragraph from Criticism to that new subsection.

References

  1. ^ Kamin, Debra (12 February 2024). "CoStar Group's Super Bowl Debut: Dan Levy, Heidi Gardner and Jeff Goldblum". nytimes.com.
  2. ^ "CoStar Group to Acquire Homes.com for $156M". RisMedia. April 15, 2021. Retrieved March 4, 2022.
  3. ^ a b c Geiger, Daniel; Nicoll, Alex (22 February 2022). "Inside the mass exodus at CoStar, real estate's biggest data firm, where 29 current and former staffers say the company surveilled and humiliated them". Business Insider. Retrieved 22 February 2022.
  4. ^ TRD Staff (22 February 2022). "Employee surveillance, humiliation and exodus at CoStar". The Real Deal. Retrieved 22 February 2022.
  5. ^ Carvajal, Konrad Putzier, David Jeans, Christian Bautista and Nancy C. "CoStar Group | Real Estate Antitrust | Andrew Florance". The Real Deal. Retrieved 2024-05-05.{{cite web}}: CS1 maint: multiple names: authors list (link)

Thank you very much! Hbensur (talk) 13:22, 16 October 2024 (UTC)[reply]

@Hbensur: In the future, for a faster response, add {{Edit COI}} to the top of your request. This will add it into a centralized queue for someone to come by and review it. I've added it here for now. Chess (talk) (please mention me on reply) 03:07, 19 October 2024 (UTC)[reply]
 Done Merged sections, added the bit about the Super Bowl commercials, and cleaned up the entire article. InfiniteNexus (talk) 18:41, 28 October 2024 (UTC)[reply]
InfiniteNexus, thank you so much for all your help! The page is looking great now. Hbensur (talk) 19:14, 11 November 2024 (UTC)[reply]
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