Tag Archives: Third Point

CoStar scores win as activist investor drops Homes.com fight

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The hedge fund Third Point was one of two major players that was strongly critical of CoStar’s attempt to compete with three leading residential real estate portals Continue reading →

CoStar lays off staff amid drastic Homes.com cost-cutting campaign

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The company has vowed to slash over 35 percent of its spending on Homes.com after years of attempting to build a fourth major real estate listings search portal. Continue reading →

Is Homes.com still a viable portal war contender?

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Investors have recently questioned CoStar’s investments in residential real estate. Industry experts told Inman the company would be wise to pay attention to the criticism. Continue reading →

2nd CoStar investor urges giving up on Homes.com amid losses

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New York City-based hedge fund D. E. Shaw & Co. on Wednesday criticized the board’s “reckless” spending on the portal while continuing to push back its timeline for profitability. It also called into question CEO Andy Florance’s generous cash and … Continue reading →

Homes.com isn’t going anywhere, CoStar says in response to investor

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A day after a prominent hedge fund investor launched a hostile takeover bid of CoStar’s board over concerns about the real estate portal, CoStar doubled down on its Homes.com strategy. Continue reading →

Investor calls CoStar’s residential project a ‘fiasco,’ slams Homes.com spending

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A major New York hedge fund has called on CoStar to divest or shut down its residential real estate business after heavy spending on Homes.com. Continue reading →

CoStar plans to slash spending on Homes.com through 2030

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After investing heavily to create a fourth competing major real estate search portal, CoStar said Wednesday that it would cut spending on Homes.com by 35 percent this year. Continue reading →