Data behemoth gets bigger
CoStar Group has acquired the UK-based online listings platform, Realla for an undisclosed sum. Think of it like LoopNet for Europe.
What’s next: With around 90,000 listings, the data giant will provide Realla the resources necessary to expand into other European markets. Interestingly, CoStar is in the process of converting LoopNet into “a pure marketing site for commercial real estate where all listings are paid and users can search the site for free.”
Monopoly: CoStar is in a league of its own and boasts a market cap of $14.13 billion. Startups like Xceligent who have tried to compete are out of business.