CoStar Group Strengths, Domain Expertise, and Key Differentiators
CoStar Group is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France. The Company provides online marketplaces for commercial real estate, apartment rentals, lands for sale and businesses for sale. It manages its business geographically in two segments: North America, which includes the United States and Canada, and International, which includes the United Kingdom, Spain, Germany and France. Its suite of information, analytics and online marketplaces is branded and marketed to its customers. Its services are primarily derived from a database of building-specific information and offer customers specialized tools for accessing, analyzing and using its information. It has multiple brands including: CoStar, LoopNet, Showcase, Belbex, Realla, CityFeet, ShopProperty, Apartments.com, Apartment Finder, ApartmentHomeLiving, BizBuySell, BizQuest, LandsofAmerica and LandAndFarm.
CoStar Group Recent Developments
In June 2020, CoStar has completed the acquisition of Ten-X for $190 million in cash. CoStar Group plans to integrate the Ten-X auction platform into both LoopNet and CoStar, thereby exposing the auctions to CoStar Group’s massive online commercial real estate audience with 11 million monthly visits. The integrated offering will expand the audience for Ten-X auctions up to 40 times its current scope. CoStar Group has the largest global commercial real estate database and research operation and intends to use those resources to enhance and dramatically expand the potential buyer database Ten-X uses to draw bidders to its auctions. In addition, CoStar Group has 280,000 properties offered for sale on its platforms and plans to market the Ten-X platform as an alternative sales method for those brokers. We believe that more properties offered for sale on the Ten-X platform will attract more bidders.
CoStar Group Mergers and Acquisitions (M&A) Activities
In February 2020, CoStar acquired RentPath’s business for $588 million in cash, in connection with RentPath’s recently announced Chapter 11 bankruptcy process. RentPath’s primary service is digital marketing for rental properties through a network of Internet listing websites, including Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com. The RentPath network of websites generated over 21 million monthly visits and almost 9 million monthly unique visitors in 2019, according to comScore, and had approximately 28,000 properties advertised on its network as of December, 2019. RentPath is headquartered in Atlanta, Georgia and has approximately 770 employees.
In June 2019, CoStar has acquired Off Campus Partners, LLC (“OCP”), a provider of student housing marketplace content and technology to U.S. universities.
CoStar Group Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying CoStar Group applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of CoStar Group and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified CoStar, LoopNet, Showcase, Belbex, Realla, CityFeet, ShopProperty, Apartments.com, Apartment Finder, ApartmentHomeLiving, BizBuySell, BizQuest, LandsofAmerica and LandAndFarm. customers.
CoStar Group Overview
Ownership: - NasdaqGS : CSGP
Number of Employees: 4337
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Special Cause Nonprofit, Oil and Gas, Professional Services, Retail, Transportation, Utilities,
CoStar Group Key Enterprise and Cloud Applications
CoStar, LoopNet, Showcase, Belbex, Realla, CityFeet, ShopProperty, Apartments.com, Apartment Finder, ApartmentHomeLiving, BizBuySell, BizQuest, LandsofAmerica and LandAndFarm.
CoStar Group Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
CoStar Group Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
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CoStar Group Enterprise Applications Revenues By Functional Markets, $M:
CoStar Group Enterprise Applications Revenues By Verticals, $M:
CoStar Group Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
CoStar Group Direct vs Indirect sales
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CoStar Group Customers - Breakdown by Geo, Size, Vertical and Product
No. of CoStar Group Customers: x
No. of CoStar Group Enterprise Applications Customers: x
No. of CoStar Group Cloud Customers: x
No. of CoStar Group Cloud Subscribers: x
CoStar has more than a thousand customers around the world.
Among CoStar customers are American Airlines, Charles Schwab, Verizon, Progressive Insurance, CBRE Group, Cushman & Wakefield, JLL, SJP Properties, and many others.
CoStar Group Market Opportunities, M&A and Geo Expansions
In October 2019, CoStar acquired STR, a global provider of Benchmarking & Analytics for the Hospitality Industry. CoStar plans to integrate STR data with CoStar to create exciting new products that provide building data, income level and trend reports, sales comps, for sale information, etc. They believe this product will bring substantial benefits to customers, thereby enabling the sale of more CoStar subscriptions to investors, brokers, appraisers, lenders, and developers who can use the information to understand investments, assess potential new developments and support property purchase and sale decisions. There is a clear opportunity to utilize the CoStar sales force to reach thousands of additional potential clients.
STR is currently selling to over 15,000 hotel customers outside of the United States, representing a small fraction of the over 350,000 international hotels. They belive the combined international presence of STR and CoStar will create opportunities for further penetration around the world.
CoStar Group Risks and Challenges
Integration of the latest acquisitions and multiple product suits under one umbrella will be a challenge for CoStar.
CoStar Group Ecosystem, Partners, Resellers and SI
BDO USA and CoStar Real Estate Manager, unveiled strategic alliance under which BDO and CoStar will team to provide companies with an end-to-end solution to meet the looming deadlines for compliance with new lease accounting standards recently finalized by the U.S.
Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).
CoStar Group partnered with the U.S. Department of Energy (DOE) to advance and promote commercial and industrial buildings’ energy usage information. CoStar plans to display building energy efficiency and energy performance information in the CoStar Property database.
CoStar Group Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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