– LoopNet’s Community Involvement Program Cited –
SAN FRANCISCO , Sept. 19 /PRNewswire-FirstCall/ — LoopNet, Inc. (Nasdaq: LOOP), which operates the largest online commercial real estate marketplace, has been named “Company of the Year” for 2006 by the Entrepreneurs Foundation, the San Francisco Bay Area organization, for its outstanding commitment to community involvement. LoopNet is headquartered in San Francisco with additional office locations in Los Angeles and New York City.
LoopNet was recognized for its commitment to a wide variety of philanthropic and community involvement programs. Over the past year, the LoopNet organization has worked together with the Entrepreneurs Foundation to volunteer at the Ronald McDonald House, Habitat for Humanity, Toys for Tots, Project OpenHand and many others. LoopNet fully supports these employee efforts and has created a series of organizational changes that encourage broad employee involvement.
“We are truly honored to be recognized by the Entrepreneurs Foundation as the Company of the Year for our work within the community. LoopNet is extremely proud of the energies, efforts and commitments of our employees to make the communities in which we work a better place,” said Richard Boyle , President and CEO of LoopNet. “We look forward to continuing to make a positive impact through our efforts with the Entrepreneurs Foundation and improving the extended LoopNet community.”
The LoopNet marketplace, available at http://www.LoopNet.com , covers 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 June 2007 , LoopNet had 2.2 million registered members and the LoopNet marketplace featured more than 515,000 commercial real estate listings, including more than $440 billion of property available for sale and 3.4 billion square feet of space for lease. According to comScore Media Metrix, LoopNet is the most heavily trafficked commercial real estate website, with 920,000 average monthly unique visitors in 2007.
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.
About the Entrepreneurs Foundation
Entrepreneurs Foundation is a nonprofit organization dedicated to engaging high-growth companies in corporate citizenship and philanthropic efforts so that new and leveraged resources are generated for community benefit. Since inception, Entrepreneurs Foundation’s 200 participating companies have created corporate philanthropic foundations and community programs that are making a positive impact in the social sector. To date, Entrepreneurs Foundation and its participating companies have engaged 10,000 employees who have contributed more than $5.6 million to support 140+ nonprofit and social benefit organizations, worldwide. For more information about Entrepreneurs Foundation, visit http://www.EFBayArea.org .
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.
SOURCE LoopNet, Inc.
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