CoStar Says Abandoning Homes.com Will Cause "Irreparable Harm" to Business

MT Newswires Live

Feb 05

CoStar (CSGP) Thursday said that abandoning the company's investment in Homes.com will lead to "irreparable harm" to its entire business and will cause significant value destruction, as the company responded to a letter issued by D. E. Shaw.

Homes.com is a natural evolution of the residential platform, and is a critical partner for Apartments.com, the company said.

Noting the completion of its investment phase in Homes.com, CoStar said scaling Homes.com has generated positive network effects like increased traffic and leads at Apartments.com.

CoStar said that despite 14 meetings over the past nine months, D. E. Shaw has held on to its arguments that "Homes.com will not reach goals the company has laid out without offering any compelling evidence to support its assertions."

Shares were down about 2% in recent trading.

Price: 51.26, Change: -1.08, Percent Change: -2.06

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E. Shaw.</p><p>Homes.com is a natural evolution of the residential platform, and is a critical partner for Apartments.com, the company said.</p><p>Noting the completion of its investment phase in Homes.com, CoStar said scaling Homes.com has generated positive network effects like increased traffic and leads at Apartments.com.</p><p>CoStar said that despite 14 meetings over the past nine months, D. E. Shaw has held on to its arguments that \"Homes.com will not reach goals the company has laid out without offering any compelling evidence to support its assertions.\"</p><p>Shares were down about 2% in recent trading.</p><p>Price: 51.26, Change: -1.08, Percent Change: -2.06</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2095319765.USD","symbol_name":"Natixis Thematics Subscription Economy R/A USD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2609530731","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2609530731","pubTimestamp":1770306341,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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