WASHINGTON, Oct. 6, 2016 /PRNewswire/ -- CoStar Group has been recognized in the 30th edition of Fortune magazine's 100 Fastest Growing Companies list. As the only commercial real estate technology company to receive this prestigious placement in 2016, CoStar Group is leading the industry with proven and documented growth.
"Being recognized by Fortune magazine as a top growth company is a tremendous honor for CoStar Group employees around the globe, who are committed to unlocking new opportunities for our clients and the industry through innovation, technology and a deep understanding of what our customers need," said CoStar Group Founder and Chief Executive Officer Andrew Florance. "Everything we do is guided by basic principles: transformation, innovation, and the creation of new opportunities across businesses, industries and communities. The fact that we're growing in our efforts to create positive, innovative change is a mark of great pride for our company and the people who move it forward each day."
CoStar Group was built on a foundation of innovation—providing transparency for the commercial real estate industry, making way for informed decisions and better investments. CoStar has long provided the most comprehensive and accurate data and intelligence solutions available to professionals involved in every aspect of commercial real estate, including office, retail, industrial and multifamily. Through organic growth and acquisitions, today CoStar Group includes a number of marquee brands delivering unmatched real estate information and a suite of marketplace services, including LoopNet.com, the number one commercial real estate marketplace; Apartments.com, the most trafficked apartment listing site; Lands of America, the largest rural real estate listing network and BizBuySell, the leading business for sale marketplace.
While the number of financial services companies saw a dramatic increase on this year's list, the technology sector is well-represented with more than twenty companies being featured by Fortune, alongside CoStar Group. With a high concentration of tech companies located in areas such as California's Silicon Valley and New York City, CoStar was the only company to be recognized, across all industries, headquartered in Washington, DC.
Fortune magazine's 100 Fastest Growing Companies list is developed annually, looking at publicly-traded companies, both domestic and global, and sets out the top three-year performers in revenue, profits and stock returns. Qualifying companies have a minimum market cap of $250 million, a stock price of at least $5 and must have revenue and net income of at least $50 million and $10 million, respectively, in the last four quarters.
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 nearly 25 million unique monthly visitors in aggregate in the second quarter of 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of approximately 2,700 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
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SOURCE CoStar Group, Inc.