Loopnet, Inc. owns and operates LoopNet.com, an online marketplace for commercial real estate. The LoopNet marketplace has about 750,000 listings and about 900,000 unique users visit the site each month.
LOOP's business model relies on subscription fees to drive revenue growth.
In 2009, LOOP generated a net income of $11.5 million on $76.5 million in total revenues. This represents a 37.0% drop in net income on a 11.1% decrease in total revenues from 2008, when the company earned $18.3 million on $86.1 million in revenues.
LOOP operates through a single business segment that runs its online marketplace for commercial real estate. Essentially all of LOOP's business occurs within the United States and the company has no assets in foreign countries.
LOOP's primary competition comes from traditional real estate brokerages that rely on printed information. The company also competes with CoStar Group (CSGP), which provides information, research, and marketing for the commercial real estate market.