LoopNet
LoopNet is a technology company.
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Financial History
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Leadership Team
Key people at LoopNet.
LoopNet is a technology company.
Key people at LoopNet.
LoopNet is an online marketplace for commercial real estate (CRE), enabling the listing, search, sale, lease, and auction of properties such as office spaces, retail, industrial, and multifamily units.[1][2][3] It serves brokers, investors, property managers, tenants, and buyers, solving the problem of fragmented CRE transactions by providing a centralized platform with high-quality listings, market data, and tools for marketing properties.[1][2][4][5] Acquired by CoStar Group in 2012 for $860 million, LoopNet has driven over $43 billion in leases and sales annually, attracts 13 million monthly visitors, and counts 96% of Fortune 1000 firms as active users.[1] As a subsidiary, it benefits from CoStar's data analytics while maintaining its focus on transactional marketplaces, with recent expansions into Europe including Spain (2025) and the UK.[1][3]
LoopNet was founded in 1995 by Dennis DeAndre and engineer Steve Midgley in San Francisco, California, amid the early internet boom, to create an online hub connecting CRE professionals with property listings and data—replacing inefficient offline methods.[2][3][4] Initially known as Loop Ventures, it quickly grew into the leading U.S. CRE marketplace, raising $32.13 million before its 2012 acquisition by CoStar Group in a peer-to-peer deal valued at $860 million.[1][4] Post-acquisition, LoopNet integrated with CoStar's ecosystem, evolving from a standalone listings site to a global platform with apps, premium tools, and international launches, marking pivotal moments like its UK debut as the world's first international CRE online marketplace.[1][3]
LoopNet rides the digitization wave in CRE, where online platforms have transformed a traditionally analog industry into a data-driven marketplace, much like Zillow did for residential real estate.[1][2][5] Its timing capitalized on 1990s internet adoption and post-2012 CoStar synergies, aligning with rising demand for transparent, high-quality data amid economic shifts like remote work and e-commerce booms affecting office and industrial spaces.[1] Market forces favoring LoopNet include CRE's $20+ trillion U.S. value, growing online transaction shares (over 50% of deals start digitally), and CoStar's 11% revenue growth to $2.74 billion in 2024.[1] It influences the ecosystem by setting standards for listings quality, enabling global connectivity for agents and investors, and powering tools that inform broader proptech innovations.[3][5]
LoopNet's trajectory points to accelerated international growth, building on Spain and UK launches with potential in high-GDP European markets and Asia, fueled by CoStar's analytics edge.[1][3] Trends like AI-enhanced property matching, sustainability data integration, and hybrid work reshaping demand will shape its path, positioning it to capture more of the $100+ billion global CRE transaction volume.[1] Its influence may evolve from U.S. leader to global standard-setter, deepening proptech synergies—much like its 1995 origins disrupted offline CRE, today's expansions could redefine cross-border deals.
Key people at LoopNet.
