LoopNet Attacked By Start-Up

Dec 26, 2013 No Comments by

LoopNet, a publicly-traded commercial real estate services company listed on the Nasdaq is coming under attack by an incoming website NJUFInvestments.com.

The start up is challenging that LoopNet’s fees to institutional clients are an “unnecessary and outrageous expenditure” for institutions to pay.

LoopNet generates revenue by creating an exchange platform for buyers and sellers of commercial real estate and charging premium users a fee to utilize the service.

In a public statement, NJUFInvestments.com Founder Shannon Lowery labeled the notion that LoopNet.com lacked capability to give institutions the ability to trade globally as “undeliteful” and that NJUFInvestments.com is” better suited” to serve global institutional clients than it’s competitor.

For it’s initial advertising campaign NJUFInvestments.com reportedly is planning advertisements asserting “Big Banks Belong Here!” in its campaigns targeting JP Morgan Chase and other global financial institutions.

Lowery goes on to assert that “as it relates to institutional users, NJUFInvestments.com is a simpler and certainly a more cost effective means to trade top grade commercial real estate in major global markets , institution to institution, end of story.”

 

Source:  PRLog

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Industrial / Flex, Industry News, Multifamily, NA, Office, Retail
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