CoStar and Happening Technology Settle Trade Secret Dispute, Open to Future Collaboration

CoStar Group, Inc. and Happening Technology have officially ended their legal dispute, with all claims being withdrawn by both parties. The settlement brings the matter to a close on mutually agreeable terms.

Background of the Dispute

The conflict emerged following the launch of Happening Technology by Guy Wolcott—best known for founding the real estate platform Homesnap, which CoStar acquired for $250 million in 2020. After Wolcott left CoStar, he co-founded Happening alongside Thomas Goff and Jeff Repanich. John Mazur, former CEO of Homesnap, later joined as an investor and board member.

Concerns were raised by CoStar Group about similarities between Happening’s data pipeline product and its own internal technology. This led to apprehensions over the potential misuse of trade secrets.

No Misappropriation Found

After a comprehensive investigation, both parties confirmed that no trade secrets were misappropriated and no legal obligations were breached by Happening Technology or any individuals involved. As a result, all parties agreed to withdraw their claims with prejudice, signifying that the matter cannot be revisited legally in the future.

Possibility of Future Cooperation

Following the resolution, CoStar Group and Happening Technology stated their satisfaction in moving beyond the dispute and expressed openness to potential collaborations ahead. This shift marks a new chapter for both entities in the real estate technology space.

About CoStar Group

Founded in 1986 and headquartered in Arlington, Virginia, CoStar Group (NASDAQ: CSGP) is a dominant player in the real estate data and analytics market. Its suite of brands includes:

• CoStar: A global provider of commercial real estate intelligence
• LoopNet: The most visited commercial property marketplace
• Apartments.com: The top online destination for apartment rentals
• Homes.com: The fastest-growing residential property portal
• Matterport: A spatial data leader offering 3D digital twin technology
• STR: A major hospitality data and benchmarking company
• Ten-X: A platform for CRE auctions and negotiated sales
• OnTheMarket: A prominent residential property website in the UK

In Q1 2025, CoStar's platforms drew over 130 million average monthly unique visitors globally. The firm remains focused on reshaping the real estate sector with cutting-edge technology and expansive market intelligence.

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