ABOUT PROPERTY CRUNCH
Property Crunch is the most heavily trafficked commercial real estate website, with nearly 5 million average monthly unique visitors according to Google Analytics*. Our registered members generate nearly over 60 million page views per month and spend an average of almost almost 4 minutes on the site.
Property Crunch was founded in 1995. It rapidly acquired a user-base and underwent several rounds of private Venture Capital financing in 1997 (Indo Suez), 1998 (Trinity Capital & partners) and 1999 (multi-party investment).[3] The company then acquired a competitor, Southern California-based PropertyFirst.com, in early 2001. By 2003 it is reported to have become profitable and by 2006 it was able to float shares in an initial public offering. In April 2011, CoStar Group, Inc. announced an agreement to acquire Property Crunch for about $860 million in cash and stock.[4] The acquisition was finalized on April 30, 2012.[5]
As with many Internet sites, the site offered the bulk of its services at no cost until it built its viewer base. Then it became a subscriber site with subscription prices increased over and over while free content & services decreased repeatedly. This trend only increased with the CoStar acquisition, such that, as of June, 2014, a 24-hour premium search subscription costs $82.95.
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