WASHINGTON, May 15, 2014 (GLOBE NEWSWIRE) -- Reflecting its position as a global leader in commercial real estate intelligence, CoStar Group, Inc. (Nasdaq:CSGP) today announced the launch of a new brand identity. The new branding, which includes a new logo and brand architecture, was designed to unite CoStar Group's flagship brands with a modern, cohesive look that will enhance customers' access to the full breadth of the company's industry leading information, analytics and marketplace solutions.
"CoStar Group's passion is rooted in building and maintaining the commercial real estate industry's premier community and information network," stated Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group. "By connecting our flagship information, software and marketing services through a cohesive brand logic, we aim to empower our customers with improved access to the most comprehensive resources to drive confident, well-informed decision-making."
The company's new brand identity defines five flagship brands under the CoStar Group parent company – CoStar, LoopNet, Apartments.com, BizBuySell and LandsofAmerica – and organizes the company's service offerings within these flagship banners. The result is a streamlined network of platforms that make it easier for customers to find the right tools for their needs across commercial real estate information and marketing, apartment rentals, and business and land marketplaces.
"Following our acquisitions of Apartments.com in April 2014 and LoopNet in April 2012, our combined teams are collaborating to execute on our aggressive business plan and continually improve the customer experience," commented Florance. "This new branding initiative is a logical step in our ongoing effort to unlock the full potential of our robust network to the benefit of our customers and the industry."
The creation of a new logo brings a dynamic and consistent visual identity to CoStar Group and its flagship brands. The new company logo comprises a series of five diamond-shaped pins, representative of the five flagship brands that have come together to form the CoStar Group community. These pins are organized in a circle to create a central star that is leaning forward – signifying the company's ethos of supporting its customers and helping them propel their businesses into the future.
On Monday, CoStar Group unveiled its new brand identity in connection with the launch of the company's new corporate website, www.costargroup.com, and newly redesigned website interfaces for CoStar, LoopNet and Apartments.com. The new websites provide streamlined navigation and search functions for visitors, and enable customers to quickly and securely access the same market-leading information, analytics and Internet marketplaces they have come to rely on for their businesses.
As part of the company's new brand architecture, CoStar Group has renamed and consolidated several of its products and services within the flagship CoStar platform to enrich the customer experience. These newly branded services join CoStar's existing commercial real estate intelligence solutions, including CoStar Property®, CoStar Comps® and CoStar Tenant®:
- CoStar Portfolio StrategyTM and CoStar Market AnalyticsTM, formerly Property and Portfolio Research (PPR), serve as a leading solutions for expertise and objective thinking in analyzing and forecasting the commercial real estate market, and advising customers on strategies to optimize investment and debt portfolios.
- CoStar Risk AnalyticsTM, formerly Compass, provides lenders and debt investors with valuable insight in order to understand risk in loan portfolios.
- CoStar Investment AnalysisTM, formerly Resolve Technology, helps companies aggregate data from their property management and accounting systems and joint venture partners to get better insight into their own portfolio.
- CoStar Real Estate ManagerTM, formerly Virtual Premise, serves as a leading provider of SaaS-based corporate real estate management solutions.
- CoStar Brokerage ApplicationsTM, formerly REApplications, provides customer relationship management and back-office management solutions for commercial real estate brokerage firms.
- CoStar Private Sale NetworkTM, formerly Reaction Web, provides custom websites and marketing tools to help investment sale brokers and corporate clients sell high-end properties discretely.
"We recognize that CoStar Group's diverse and growing community, which includes more than 17 million unique monthly visitors in aggregate across all of the company's websites, as well as the knowledge derived from interacting within this community, is central to the value proposition we offer," stated Florance. "Combining intuitive tools and reliable, unbiased information with access to the right connections, CoStar Group delivers the solutions that mobilize individuals and help them achieve their business goals."
About CoStar Group, Inc.
CoStar Group (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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 8 million registered members. CoStar operates websites that have over 17 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of over 2,300 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com.
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's financial expectations, the company's plans, objectives, expectations and intentions and other statements including words such as "hope," "anticipate," "may," "believe," "expect," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to significant risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. The following factors, among others, could cause or contribute to such differences: the risk that the rebranding effort does not enhance or improve the customer experience as expected; and the risk that the integration of CoStar's service offerings and solutions does not produce the results expected. Additional factors that could cause results to differ materially from those anticipated in the forward-looking statements can be found in CoStar's Annual Report on Form 10-K for the year ended December 31, 2013, and CoStar's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, in each case filed with the SEC, including in the "Risk Factors" section of those filings, and the company's other filings with the SEC available at the SEC's website (www.sec.gov). CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.