Shares of CoStar Group, Inc. (NASDAQ:CSGP), a real estate information and marketing services company, increased in the fourth quarter. Business trends were excellent, with revenue growth of 16% and bookings growth above 30%.
We are excited about the upsell of Loopnet Premium Searcher customers to the flagship CoStar information product. We believe this transition could potentially contribute an incremental $150 to $200 million of recurring revenue with almost no added cost. We also think CoStar has an opportunity to optimize its Premium Lister product, which could favorably impact future results. (Neal Rosenberg)
From Ron Baron (Trades, Portfolio)'s Partners Fund 2018 shareholder letter.
