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Online real estate market provider CoStar Group has sued former Homesnap founder Guy Wolcott and three others for allegedly stealing trade secrets related to its online information platform feeding its various marketplace products, including Homes.com and Apartments.com, according to court documents obtained by HousingWire. The filing of the suit was first reported by Inman News.
The technology at the center of CoStar’s offering is “CoStar Sync,” which “allows data from locally stored databases to be rapidly and efficiently accessed through CoStar’s multiple product platforms,” the complaint reads.
“This provides CoStar with a major competitive advantage over its competitors by creating superior products and substantially reducing CoStar’s operating costs.”