Business
CoStar Group is Selected for Inclusion in the S&P 500 Index, Joining a Premier Group of Some of the Largest and Most Successful Companies in the World
Inclusion in the Index Recognizes the Company’s Continued Growth and Leadership in Technology and Real Estate WASHINGTON--(BUSINESS WIRE)-- CoStar Group
About this update from Costar Group, Inc.
[{"type":"text","content":"\nInclusion in the Index Recognizes the Company’s Continued Growth and Leadership in Technology and Real Estate\n\n WASHINGTON--(BUSINESS WIRE)--\nCoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, announced today that the company has been selected for inclusion in the S&P 500 Index, effective prior to the opening of trading on Monday, September 19, 2022.\n\nWidely recognized as one of the premier benchmarks of the U.S. equities market, the S&P 500 Index is comprised of 500 leading companies across important industries of the United States. Companies included in the index are selected by the S&P Index Committee using criteria that include market capitalization, liquidity, and consistent, positive earnings.\n\n“It is a great honor to be selected for inclusion in the S&P 500 index,” said Andrew Florance, Founder and Chief Executive Officer of CoStar Group. “For 36 years CoStar Group has been committed to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. Today, we have more than 25 brands under the CoStar Group umbrella serving hundreds of thousands of customers around the globe.”\n\nCoStar Group was founded by Mr. Florance in his college dorm room in 1986, based on his vision to digitize the real estate asset class. From its humble beginnings as a startup operation, CoStar Group now employs more than 5,200 people across 14 countries around the world. The Company became publicly traded via an initial public offering in 1998, raising $23 million. Most recently, CoStar Group revenue for the twelve months ending June 30, 2022 was over $2 billion, with market capitalization of $31.05 billion as of Friday, September 9, 2022.\n\n“I am incredibly proud of this achievement, which would not have been possible without all of the hard work and dedication of our world-class team,” added Mr. Florance. “Our talented people, both past and present, are the foundation upon which CoStar Group was built. I also would like to thank our hundreds of thousands of customers around the world - many of whom have supported CoStar Group for decades - for their ongoing trust and partnership. Joining the S&P 500 is a validation of the faith that they hav...