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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
CoStar Group (CSGP) investor relations material
CoStar Group Stephens Annual Investment Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Stephens Annual Investment Conference summary20 Nov, 2025
Apartments business evolution and strategy
Achieved 13 consecutive quarters of double-digit revenue growth, now over $1.2B in revenue and market leader with significant margin advantage.
Technology and original content, including Matterport Plus, drive differentiation and customer engagement, with a TAM over $9B.
AI integration is expected to further enhance search, customer experience, and lead generation.
Renewed focus on expanding the sales force by 20% to capture more of the underpenetrated market, especially in the 1-49 unit segment.
In-person sales and tailored strategies for different property sizes are key to increasing penetration and maintaining high margins.
Content protection, AI, and technology integration
Aggressively protects IP, including legal action against competitors for copyright infringement and strict API controls.
AI is viewed as an accelerator, not a threat, with ongoing investments to enhance internal efficiency and product features.
Proprietary data and original content, such as Matterport, are central to defensibility and differentiation.
AI-driven tools are reducing operational costs and enabling new product offerings, such as lease benchmarking.
Integration of AI and technology is planned across all platforms, with a major focus in 2026 and beyond.
Homes.com strategy and market positioning
Focuses on listing agents and home sellers, offering digital advertising and retargeting, with over 26,000 subscribers and 130,000 paid listings.
Retention rates and NPS have improved significantly, reflecting a stronger value proposition and product-market fit.
Pricing strategy is dynamic, balancing penetration and value, with expectations for future price increases as adoption grows.
The platform leverages integration with other business lines, creating a symbiotic data and technology ecosystem.
The U.S. residential market is seen as a multi-billion dollar, high-margin opportunity, modeled after successful international platforms.
Homes.com sell-side model: agent value proposition
Matterport's B2B strategy and AI monetization
CRE recovery: Suite's new product impact?
Partial view of Summaries dataset, powered by Quartr API
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Next CoStar Group earnings date
Q4 202517 Feb, 2026
Next CoStar Group earnings date
Q4 202517 Feb, 2026
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Frequently asked questions
Commercial Real Estate Information
CoStar Group, Inc. is an American company providing commercial real estate information, analytics, and online marketplaces. The company offers comprehensive data and insight on commercial properties, covering aspects like occupancy rates, transaction history, and property valuations. Its primary clients include real estate brokers, owners, investors, lenders, and appraisers. CoStar Group is headquartered in Washington DC, and its shares are listed on the Nasdaq.
Growth and Acquisitions
CoStar Group, Inc. was established in 1987 by Andrew C. Florance in Washington D.C. The company was created to consolidate and digitize information about commercial real estate properties, which was traditionally scattered and difficult to access. CoStar set out to create a comprehensive database to serve real estate professionals, making property data more readily available and analyzable.
Throughout its history, CoStar has expanded both its geographical reach and the scope of its services. Growth has been achieved through a combination of organic development and strategic acquisitions. Notable acquisitions include LoopNet in 2012, which enhanced its commercial real estate listings, and Apartments.com in 2014, expanding its presence in the residential market.
Extensive Database
CoStar Group provides an extensive array of services primarily centered around its comprehensive commercial real estate database, which is one of the largest of its kind. This database includes detailed information on properties, including sales and lease transactions, occupancy rates, property valuations, and historical data. By aggregating and analyzing this data, CoStar offers insights into real estate market trends, pricing, and investment opportunities. Their platform is particularly valuable for professionals like brokers, appraisers, and investors who require accurate and up-to-date information to make informed decisions. CoStar’s services are not just limited to data provision; they also include analytic tools that help users interpret market dynamics, evaluate property values, and identify potential risks and opportunities.
Property listings
CoStar Group operates several platforms for property listings, each serving a specific segment of the real estate market. LoopNet, a significant platform in CoStar's portfolio, focuses on commercial real estate. It is used by brokers and investors for listing and searching commercial properties. Another platform, Apartments.com, is built for residential listings, particularly apartments and multifamily units (similar to what Zillow and Redfin offer. These platforms offer users functionalities like search filters, property details, and tools for property marketing.
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