Florance stated: "We increased the organic revenue growth rate of LoopNet Premium Membership sales 140%, taking it from 5% in the fourth quarter of 2011 to 12% in the fourth quarter of 2012. From the third quarter to the fourth quarter of 2012, we also increased the average new sales price for LoopNet Premium Membership from $56 to $69 and reduced the cancellation rate from 6.1% to 5.6%. The fourth quarter 2012 cancellation rate for LoopNet Premium Membership is the lowest it has been since the third quarter of 2007.""We expect the LoopNet cross-selling opportunity to continue to drive highly profitable double digit revenue growth for the foreseeable future. We believe that as we grow past the $100 million revenue quarter milestone we are well positioned to achieve our goal of exiting the fourth quarter of 2014 at an annual revenue run rate of $500 million with 30-35% margins," said Florance.
CoStar Fourth Quarter Revenue Climbs 51% Year-Over-Year Reaching $100 Million And Drives 86% Year-Over-Year EBITDA Increase
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