CoStar bought Homesnap for $250 million in 2020 and then went on to detach the platform from the Broker Public Portal program in 2022. Until it was sunsetted by CoStar earlier this year in favour of the brand, Homesnap built software tools for agents and had a portal website. agent-facing publication saying that he was confident that it would become clear that there was no misappropriation or copying. Generally, now that both sites are owned by the same company, other than a different design, they’re very much the same site. Both sites use the same listings database, so the listings are the same. Wolcott denied the allegations in comments made to U.S. In fact, Zillow acquired Trulia, yet they remain separate websites. ![]() As CoStar has recently discovered, however, all of the Former Employees eventually formed or joined Happening Technology, a new company that was incorporated in January 2023 with Wolcott as CEO, and did so with the apparent intention of repurposing the proprietary and confidential information they had access to and worked with at CoStar so that Happening Technology could offer competitive technology and services to CoStar’s competitors." ![]() "At the time of their departures from CoStar, none of the Former Employees informed CoStar management of their future plans or where they would be working next, even when asked. District Court for the District of Columbia, CoStar accuses Wolcott of poaching its employees and leveraging knowledge that they gained after the Homesnap takeover, specifically around the CoStar Sync data-transfer system. ![]() commercial and residential real estate portal operator CoStar is suing the founder of a company it acquired in 2020.ĬoStar alleges that Homesnap founder Guy Wolcott, who left the company in April, along with former Homesnap employees John Mazur, Thomas Goff, and Jeffrey Repanich gained knowledge of CoStar's inner workings to set up a similar platform named Happening Technology.Īccording to a document filed Wednesday in the U.S.
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