- Inventory of Available Properties to Expand for LoopNet Members -
SAN FRANCISCO, June 4 /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ:LOOP), which operates the largest commercial real estate marketplace online, announced today that the company has entered into a strategic alliance with Xceligent, Inc., a leading provider of commercial real estate information services based in Independence, MO. Leveraging an efficient, research-focused model, Xceligent provides commercial real estate professionals with accurate and timely information on commercial real estate availabilities. Xceligent provides information services in 24 major U.S. metropolitan markets.
The strategic alliance will make Xceligent subscriber for sale and for lease property listings available in the LoopNet marketplace, providing enhanced, nationwide property marketing for these listings. As part of the strategic relationship, LoopNet will take a minority equity position in Xceligent, and will have representation on the Xceligent board.
"We are very excited about our strategic alliance with Xceligent," said Richard Boyle, LoopNet's CEO and President. "LoopNet's open marketplace model has focused on aggregating supply and demand in our marketplace. On the demand side, we announced early this year that we surpassed the two million registered members milestone. With this relationship, we are excited about the potential to increase the supply of listings available to our members." Doug Curry, CEO of Xceligent, commented: "Our strategic alliance with LoopNet is a vote of confidence in Xceligent and our business model. We are excited about the benefits we'll be able to deliver to our customers because of this alliance. LoopNet's investment in Xceligent and ongoing strategic advice will help Xceligent provide enhanced services in our current markets, and lays the foundation for market expansion across the country." The LoopNet marketplace, available at http://www.loopnet.com/, is the most heavily trafficked commercial real estate website with 1.2 million unique visitors during April 2007, according to comScore. The LoopNet marketplace covers all commercial property categories, including office, industrial, retail, multifamily, hotel, land, specialty properties, and businesses for sale.
About LoopNet LoopNet, Inc. is the leading online marketplace for commercial real estate and businesses for sale in the United States. Our online marketplace 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, First Industrial Realty Trust, Grubb & Ellis, Lincoln Property Company, Marcus & Millichap, NAI Global, Prudential, RE/MAX, Sperry Van Ness, The Staubach Company and TCN Worldwide.
LoopNet also owns and operates http://www.bizbuysell.com/, 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 website. BizBuySell also has the largest database of sale comparables for recently sold businesses.
About Xceligent Xceligent, Inc. is a nationwide provider of property and listing information for the commercial real estate industry. Xceligent utilizes an efficient, research-focused model to bring critical business information about property listings, sales comparables and tenant information to commercial real estate professionals in markets of all sizes. The company also offers a full suite of marketing tools to assist brokers and agents in reaching an even wider audience. Xceligent works with local commercial real estate communities to meet their individual needs while simultaneously allowing them to reach a state-wide or national audience. Founded in 1999 and headquartered in Independence, MO, Xceligent provides services in 24 markets across the country. Visit http://www.xceligent.com/ for more information.
This release contains forward-looking statements regarding LoopNet's online commercial marketplace, our customers, our strategic alliances, the continuing adoption of the Internet to market and search for commercial real estate and the value we provide to our members. 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, our ability to receive timely and accurate sales data from our partners, 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 is contained in our filings with the Securities and Exchange Commission ("SEC"). Copies of filings made by us with the SEC are available on the SEC's website or at http://investor.loopnet.com/sec.cfm. LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release. DATASOURCE: LoopNet, Inc.
CONTACT: Cary Brazeman, +1-310-205-3590, , for LoopNet, Inc.
Web site: http://www.loopnet.com/ http://www.xceligent.com/
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