CoStar rival files antitrust suit to end alleged “decades-long monopoly”

Xceligent denies copyright infringement, seeks damages

New York /
Jun.June 28, 2017 07:03 PM

UPDATED, 7:51 p.m., June 28: Real estate data company Xceligent filed an antitrust lawsuit against CoStar, alleging that the $9 billion behemoth is precluding its users from sharing their own data and stifling competition.

“We gladly take up this fight and we will not rest until the industry has clear safeguards against an obvious abuse of power by CoStar,” Xceligent’s CEO Doug Curry said in a statement. The company seeks monetary damages and is “asking the federal government to bring an end to CoStar’s decades-long monopoly in the CRE information industry.”

In a statement, CoStar said Xceligent’s “efforts to make this about broker provided content and broker websites is contradicted by the facts. This is about industrial scale theft orchestrated by Xceligent in the U.S. and abroad.”

Xceligent, which is owned by an affiliate of the Daily Mail Group, filed its complaint as a countersuit to CoStar’s December copyright infringement lawsuit, which is still ongoing. In that suit, CoStar alleged that Xceligent employees deliberately stole images and data from CoStar’s database, which Xceligent denies.

In its countersuit, Xceligent claims that CoStar is blocking its users from sharing their own data with CoStar in violation of a 2012 Federal Trade Commission ruling. Xceligent also claims that it “has committed over $150 million to expand its market presence to compete with CoStar, but that CoStar’s anticompetitive and exclusionary conduct has slowed Xceligent’s growth.”

The Missouri-based company is working at expanding into CoStar’s biggest market: New York City. In May, it reached a deal to integrate its platform with CompStak, a leasing comp database.

CoStar’s competitors have long accused the Washington, D.C.-based company, which has a market cap of $8.6 billion, of using lawsuits to bully them. The firm has filed copyright infringement lawsuits against crowdsourced property database RealMassive and against CompStak users in the past.


Related Articles

arrow_forward_ios
Eric Gordon
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world
Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
MAP: Here’s a look at all the Big Tech locations in NYC
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
Social Construct's co-founders Ben Huh and Michael Yarne (iStock)
Proptech startup Social Construct shutting down
Proptech startup Social Construct shutting down
The average iBuyer offer is now above 100 percent of market value. (iStock)
iBuyers upping offers as housing market rises
iBuyers upping offers as housing market rises
Alphabet CEO Sundar Pichai and Twitter CEO Jack Dorsey (Getty)
Twitter, Google latest big companies to delay office returns
Twitter, Google latest big companies to delay office returns
Bad news for agents: Buyers warming to algorithms
Bad news for agents: Buyers warming to algorithms
Bad news for agents: Buyers warming to algorithms
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...