Andy Florance Named Amongst Inman’s Best of Proptech Award Winners for Entrepreneurs

Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) CEO Andy Florance wins Inman’s Best of Proptech Award for Entrepreneur category. CoStar Group, a leading provider of online marketplaces, information, and analytics in the property markets, has experienced tremendous success under Andy's leadership, reporting 50th straight quarters of double-digit revenue growth and impressive website traffic. In September 2023, CoStar Group’s network of U.S. real estate websites saw over 160 million monthly unique visitors, with Homes.com achieving 100 million unique monthly visitors, solidifying its position as one of the fastest-growing home search sites in the industry.

Positive

• CoStar Group continues to witness incredible growth in earnings and website traffic, reporting 50th straight quarters of double-digit revenue growth.
• Homes.com achieved 100 million unique monthly visitors, positioning itself as one of the fastest-growing home search sites in the industry.

Negative

• None.

WASHINGTON--(BUSINESS WIRE)-- Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), a leading provider of online marketplaces, information and analytics in the property markets, was named amongst Inman’s Best of Proptech Award winners for the Entrepreneur category.

Since his founding of CoStar Group in 1986 to IPO launch in July 1998, Andy has led the company to tremendous success, solidifying the platform as a dominant market resource and industry-leading provider of commercial and residential real estate information. With Andy at the helm and a global workforce of over 5,600 employees across 14 countries, CoStar Group has continued to create innovative, tech-forward products and services that address market and client needs across the world.

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. At the end of the third quarter for 2023, CoStar Group reported its 50^th straight quarters of double digit revenue growth with revenue increasing of 12% year-over-year and net income of $91 million, a year-over-year increase of 25%. 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, positioning itself one of the fastest growing home search sites in the industry.

“I’m honored to be recognized as one of Inman’s Best of Proptech entrepreneur winners,” said Florance. “Entrepreneurial spirit has been at the core of CoStar Group since its founding and it is an incredible moment when you see hard work and dedication come full circle. The company would not be at its market-leading position today without our talented team and commitment to providing best-in-class technology solutions. This award exemplifies the success of our combined efforts and I am proud to be listed amongst other influential leaders in the proptech industry.”

Inman’s Best of Proptech Awards spotlights the achievements of the companies and leaders leveraging technology to change the residential landscape. Inman celebrates the entrepreneurs, VCs and visionaries that are building the future in the world of property technology, or proptech.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1986, 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/20231113697047/en/

News Media Contact

Matthew Blocher

CoStar Group

(202) 346-6775

mblocher@costargroup.com

Source: CoStar Group

FAQ

What award did Andy Florance win?

Andy Florance won Inman’s Best of Proptech Award for the Entrepreneur category.

How many employees does CoStar Group have?

CoStar Group has a global workforce of over 5,600 employees across 14 countries.

What was CoStar Group's net income in the third quarter of 2023?

CoStar Group reported a net income of $91 million, a year-over-year increase of 25% in the third quarter of 2023.

What is the significance of Inman’s Best of Proptech Awards?

The awards spotlight the achievements of companies and leaders leveraging technology to change the residential landscape.

How many monthly unique visitors did CoStar Group’s U.S. real estate websites have in September 2023?

In September 2023, CoStar Group’s network of U.S. real estate websites saw over 160 million monthly unique visitors.