LoopNet Inc., which operates a commercial real estate listing service online, today reported that the company achieved its second consecutive year of GAAP profitability and positive cash flow for calendar year 2004. LoopNet’s revenue for 2004 increased more than 60 percent over the prior year.
While the company did not disclose specific financial information, LoopNet reported a host of other statistics on its membership base, site traffic and listings content.
At year-end 2004, registered members of the company’s core listing service exceeded 700,000, an increase of more than 55 percent from the year- earlier period.
During 2004, subscriptions to LoopNet’s Premium Membership surpassed the 35,000-subscriber mark, an increase of more than 65 percent from the previous year.
More than 265,000 property listings currently live on the company’s site, and property listings returned in searches surpassed 60 million per month last year.
LoopNet provides information services to the commercial real estate industry. Its customers include AMB Property Corp., CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman & Wakefield, Grubb & Ellis, Lincoln Property Co., Marcus & Millichap, NAI, Prudential CRES, RE/MAX, RREEF, Sperry Van Ness, The Staubach Co. and Trammell Crow.
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