Andy Florance Named 2024 Tech Titan by Washingtonian Magazine

Andy Florance Named 2024 Tech Titan by Washingtonian Magazine

News Media Contact
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, has been honored as one of Washingtonian Magazine’s 2024 Tech Titans. This marks the third consecutive year Florance has received this prestigious recognition.

The Tech Titans list is published annually and highlights key figures across the D.C. area who make innovative contributions to the technology sector. This year, Florance was recognized in the “Starters” category, celebrating entrepreneurs, founders and early-stage CEOs who are transforming industries through technology and innovation. Florance’s recognition on the list underscores his vital role in revolutionizing the real estate market, particularly through the rapid growth of Homes.com, which has become the fastest growing homebuying portal in the U.S.

In awarding Florance, the magazine noted that “CoStar Group’s sheer massiveness—it has over 6,300 employees and a $32 billion market cap—induced Virginia to put up $5 million this year to get it to move the home base from downtown DC to Arlington. Florance, meanwhile, is focused on expanding the real estate-intelligence firm’s Homes.com portal, including via Super Bowl commercials featuring Dan Levy (Schitt’s Creek) and rapper Lil Wayne.”

Founded in 1986, CoStar Group has continued to deliver strong financial results in 2024, reporting a 12% year-over-year revenue increase in Q2 2024, with revenue reaching $678 million and net new bookings totaling $67 million. For the quarter ending on June 30, 2024, CoStar Group achieved a record high of 183 million monthly average unique visitors across its platforms, including Homes.com, Apartments.com, LoopNet, and other online marketplaces. Notably, Homes.com experienced 197% year-over-year growth in Q2 2024, achieving 99 million average monthly unique visitors, according to Google Analytics. The residential portal has received continued exposure as a result of a massive $1 billion marketing campaign that launched in early 2024, with high-profile commercials airing during the Super Bowl and major events.

"I’m truly grateful to be acknowledged as one of Washington’s leading tech innovators for the third consecutive year alongside these inspiring leaders," said Florance. "Over the past few years, we’ve concentrated on launching Homes.com, aiming to create the most agent-friendly platform in the industry, alongside numerous significant domestic and international projects. This recognition is a testament to our team’s commitment to digitizing the world’s real estate and delivering exceptional value to our clients globally."

About CoStar Group, Inc.

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 183 million monthly average unique visitors in the second quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.