I admit to never having heard of CoStar before, that I recall.
They do data for comm real estate and moving into residential.
Fairly rich PS/PE, and doing about $2.5b/yr rev on a $34b mkt cap. Could have made 20x on that stock if you bought in 2010.
Huh…how bout that?
Anyways - they bought former Metaverse SPAC darling Matterport (MTTR) as I saw stock was up 150%+ due to acquisition price announcement.
Basically they combine to form a data/3D powerhouse. Wonder why META didn’t buy them. I long have believed and mentioned in posts long-dead (thanks TMF!) that a ready-player-one type future Metaverse that needs digital twins of everything would be a great fit for Real Estate market. Virtually “walk” thru every room in house, use Augmented reality within the Virtual reality to place your desired furniture and game room ideas. Just ask your AI assistant to put in the brick paver patio over here or finish the basement, etc… to get a feel of the potential of the house you are thinking of buying.
But I guess CoStar isn’t a piddly little company like Matterport, so maybe they will be a Metaverse player some day.
Found it interesting. Not sure there is an investing opp there at current levels, but I threw CSGP on the ol’ watchlist to keep track down the road.
Dreamer