SAN FRANCISCO, Aug. 24 /PRNewswire-FirstCall/ -- Based on its revenue growth, LoopNet, Inc. , a leading information services provider to the commercial real estate industry and operator of the largest commercial real estate listing service online, ranks among the nation's fastest-growing companies, according to Inc. magazine.
Each year, Inc. magazine produces the "Inc. 500," a list of the nation's fastest-growing private companies, across all industries, based on three-year revenue growth. LoopNet was named to the 2006 Inc. 500 based on 2005 results, when the company was still private. LoopNet is ranked number 429 on Inc.'s 2006 list, based on its three-year revenue growth of 341%. LoopNet's 2005 revenues exceeded $31 million. LoopNet was also named to the Inc. 500 in 2005, based on 2004's three-year revenue growth of 328% to over $17 million in revenue for 2004.
These rankings come as LoopNet recently surpassed 1.5 million registered members of its commercial property listing service at http://www.loopnet.com/.
"We are very pleased to be named to the Inc. 500 for the second year in a row," said LoopNet CEO and President Richard Boyle. "The growth in our business is a result of the commercial real estate industry moving increasingly online and using our marketplace to market and search for deals. Our primary goal has always been to make deals happen for our customers, and we believe that our ongoing growth is a validation that our services make the process of marketing and searching for deals more efficient and effective for the industry. We are truly honored to be on a list that has previously included companies such as Google, Microsoft, eBay and Yahoo."
About LoopNet
LoopNet, Inc. is the leading online marketplace for commercial real estate and businesses for sale in the United States. Our online marketplace, available at http://www.loopnet.com/, enables commercial real estate agents, working on behalf of property owners and landlords, to list properties for sale or for lease by submitting detailed property listing information in order to find a buyer or tenant. Commercial real estate brokers, agents, buyers and tenants use the LoopNet online marketplace to search for available property listings that meet their commercial real estate criteria. By connecting the sources of commercial real estate supply and demand in an efficient manner, LoopNet enables commercial real estate participants to initiate and complete more transactions more cost-effectively than through other means. LoopNet also delivers technology and information services to commercial real estate organizations to manage their online listing presence and optimize property marketing.
LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman & Wakefield, Grubb & Ellis, Lincoln Property Company, Marcus & Millichap, NAI Global, Prudential, RE/MAX, Sperry Van Ness, The Staubach Company and Trammell Crow Company.
LoopNet also owns and operates BizBuySell, Inc., the largest and most heavily trafficked online exchange for businesses for sale in North America, with more business listings, users and search activity than any other web site. BizBuySell features more than 41,000 businesses listed for sale; the listings are searched by more than 700,000 monthly visitors to the web site. The company also has the largest database of sale comparables for recently sold businesses.
This release contains forward-looking statements regarding our online commercial marketplace, the growth and strength of our business model and value we provide to our users. These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to economic events or trends in the commercial real estate market or in general, our ability to continue to attract new registered members, convert them into premium members and retain such premium members, seasonality, our ability to manage our growth, our ability to introduce new or upgraded products or services and customer acceptance of such services, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, and competition from current or future companies. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward looking statement are contained in our Form 10-Q filed with the Securities and Exchange Commission ("SEC"), and subsequent SEC filings made by us. Copies of filings made by us with the SEC are available at on the SEC's website or http://investor.loopnet.com/sec.cfm. LoopNet assumes no obligation to update the forward-looking statements included in this press release which are based on information available to us as of the date of this release.
For more information contact:
Cary Brazeman, 310-205-3590
