CoStar Group Inc. (NASDAQ: CSGP), headquartered in Arlington, Va., has appointed Felix Kusch as president of Homes.com. Kusch, who has extensive experience in Europe's real estate market, brings a proven track record of success to the role. His appointment follows a profitable quarter for CoStar's residential segment, which reported its first profitable quarter with $12 million in adjusted EBITDA, a $41 million increase from the first quarter. Homes.com's revenue grew 66% year-over-year, reaching $28.5 million, and the company's network of sites drew 118 million average monthly unique visitors in the second quarter.
Andy Florance, CoStar Group Founder and CEO, praised Kusch's leadership, stating, "Felix has run two of Europe's top real estate portals and beaten some of the toughest competitors in the industry to do it. He's proven that he can take on an established competitor and come out on top." Kusch expressed his enthusiasm for the opportunity, saying, "I've watched what CoStar Group has built with Homes.com from across the Atlantic."
Under Kusch's leadership, Homes.com's leadership team will report directly to him, with Kusch reporting to Florance. The company's network of sites includes OnTheMarket, Immoweb (Belgium), Immowelt (Germany), Axel Springer Digital, Meilleurs Agents, Lamudi, CoStar, LoopNet, Apartments.com, and Domain.
