CoStar Group, Inc. has announced an investment in Wikicasa.it, Italy’s agent-backed real estate marketplace. The transaction will result in CoStar Group acquiring an approximately 30% stake in Wikicasa. Wikicasa’s shareholder base includes Italy’s real estate agencies, including Tecnocasa, Gabetti Group, REMAX Italy, and Gruppo Tempocasa.
The investment brings together Wikicasa’s local network and expertise with CoStar Group’s technology, scale and global marketplace reach. As an initial step, this will create opportunities to broaden the visibility of Wikicasa’s commercial listings through LoopNet, helping connect Italian properties with a wider global audience. Furthermore, while Matterport is already used by some of Italy’s real estate agencies, Wikicasa’s network will accelerate the adoption of Matterport’s 3D digital twins and artificial intelligence technologies across both the commercial and residential markets in Italy. (View Highlight)
Andy Florance, Founder and Chief Executive Officer of CoStar Group, said, “We are delighted to have reached an agreement to invest alongside Italy’s agents in Wikicasa. We’ve been impressed with what the shareholders and management team have achieved to date and believe there is an opportunity to create value by bringing our technology, global scale, and continued focus on innovation to the Italian property market.”
Pietro Pellizzari, CEO of Wikicasa, said, “CoStar Group’s investment in Wikicasa is a milestone in our growth journey. We are excited to combine our local expertise and agent network with CoStar Group’s technology, scale, and global reach, creating new opportunities for the Italian real estate market.” (View Highlight)
