- More Members, Traffic & Activity than Any Other Commercial Real Estate Website -
SAN FRANCISCO, Nov. 28 /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ:LOOP), which operates the largest online commercial real estate marketplace, has surpassed 2.5 million registered members. As of November 25, 2007, LoopNet had 2,511,813 registered members, more than any other commercial real estate service. LoopNet also is the most heavily trafficked commercial real estate website, according to comScore Media Metrix, with 915,000 average monthly unique visitors in 2007.
LoopNet membership, available at http://www.loopnet.com/, has increased dramatically in recent years. LoopNet surpassed the one million member milestone in October 2005 (after nearly 10 years in business), reached two million members in April 2007 (less than 18 months later) and now seven months later reports membership over 2.5 million members. LoopNet's registered membership has grown at an annualized rate of more than 50% per year during the past two years.
"As participants in commercial property transactions continue to move online from doing business offline, LoopNet benefits as the leading online commercial real estate marketplace," said Thomas Byrne, LoopNet's Chief Marketing Officer. "The company's member community continues to grow rapidly, which is a testament to the overall strength and value of the LoopNet marketplace as a vehicle for marketing and searching for commercial real estate." LoopNet's marketplace covers the United States and Canada and all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, and businesses for sale. At the end of September 2007, the LoopNet marketplace featured more than 535,000 commercial real estate listings, including more than $425 billion of property available for sale and 3.7 billion square feet of space for lease. Members of LoopNet use the company's suite of information services to search for property sale and lease opportunities, expose their available properties widely, research property values and transaction history, identify buyers and tenants, and analyze property data trends. LoopNet offers members a Basic (free) membership, as well as a wide range of Premium membership and service options.
LoopNet's 2.5-Millionth Member Identified: Cydney Currell of Coldwell Banker The Pagosa Group The company identified LoopNet's 2.5-millionth member as Cydney Currell of Coldwell Banker The Pagosa Group of Pagosa Springs, Colorado. Currell has been with Coldwell Banker since January 2006 and focuses on residential, farms and ranch land and commercial properties in Colorado. Currell was recently hired by one of her clients to market a retail opportunity and was encouraged by a commercial broker colleague to use LoopNet.
"My real estate colleague strongly recommended that I utilize LoopNet to market the commercial retail listing," said Currell. She immediately joined LoopNet and posted her client's commercial listing to LoopNet.com. "I am very excited to be a LoopNet member and particularly the two and a half millionth. However, I am most excited to be a Premium Member and receive the enhanced exposure it will bring to my client's property." As LoopNet's 2.5-millionth member, Currell will be featured on LoopNet.com and will receive a LoopNet "Keeping You in the Loop" package, which includes a two-year LoopNet Premium Membership, an iPod nano, a bottle of champagne and LoopNet gear to celebrate the occasion.
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, ONCOR International, Prudential CRES, RE/MAX, Sperry Van Ness, The Staubach Company and TCN Worldwide.
LoopNet also owns and operates 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.
Forward-Looking Statements 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 of LoopNet, Inc., +1-310-205-3590, Web site: http://www.loopnet.com/
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