COSTAR GROUP, INC. (CSGP)

CoStar Group, Inc. is a global leader in commercial and residential real estate information, analytics, and online marketplaces, aiming to digitize the world's real estate. The company operates leading online marketplaces in the U.S. and U.K. and maintains the most comprehensive commercial real estate database in the industry, supported by the largest research department in the sector. Its major brands include CoStar (commercial real estate data, analytics, and news), Apartments.com (a top apartment rental platform), LoopNet (a heavily trafficked commercial real estate marketplace), and Homes.com (a fast-growing residential real estate marketplace), along with STR (hospitality data and benchmarking), Ten-X (commercial real estate auction platform), and OnTheMarket (a U.K. residential property portal).

CoStar's platform combines proprietary databases built over 35+ years with extensive field research—including physical inspections, aerial photography via drones and low-flying aircraft, and licensed third-party data—to deliver information on property listings, leasing, sales, tenants, owners, market trends, and hospitality benchmarking. Revenue is generated primarily through subscription-based license agreements, along with transaction-based auction fees from Ten-X, with pricing based on factors like user count, geographic location, and service scope. The company serves a highly diversified client base across brokerage, government, property management, investment, and other real estate-related sectors, and is not dependent on any single customer.

Growth has come both organically and through strategic acquisitions, including Ilis Immo (2022), OnTheMarket (2023), and Visual Lease (2024). CoStar operates in two reportable segments—North America and International (covering Europe, Asia-Pacific, and Latin America)—and faces competition from various companies in online real estate marketplaces, listings, analytics, and lease management software, competing on factors such as data quality, technology, brand reputation, and customer service. The company protects its intellectual property through trademarks, patents, trade secrets, and technical security measures.

As of January 31, 2025, CoStar employed 6,593 people, with about 88% based in the U.S., and maintains a comprehensive employee benefits and engagement program, including in countries with Works Councils such as Germany and France.