Now Reading
CoStar’s CEO Ruthless, real estate data giant, ‘created toxic environments’

CoStar’s CEO Ruthless, real estate data giant, ‘created toxic environments’

CEO Andrew Florance, 58, CEO of CoStar, a powerful real-estate data firm, is accused of creating a toxic work environment causing more than 1,500 employees to leave in 2021

Over 1,500 employees left one of the largest real estate data companies in the country in the past year. Many say the CEO was ruthless and created a toxic environment where he openly supported young women and ridiculed others. He even pointed a gun at a Zoom call executive.

Interviews published by InsiderEx-employees had their own horror stories to tell. They claimed that it was a workplace in which humiliation, surveillance, and even death were common, especially by Andrew Florance, the Chief Executive Officer.

Florance, 58, founded CoStar in the basement at his father’s Washington, D.C., house. His contribution to the company’s growth has been acknowledged. Ex-employees claim that Florance’s leadership style was paired with the pandemic which caused discontent in CoStar and triggered a mass exodus.

Insider reported that 1,546 workers left the $27 billion company in 2021, more than twice the 638 who left in 2020.

Employee dissatisfaction with the company was also visible in the form of memes posted on an Instagram account, many of which were based on their own experiences.

An ex-employe, who wished to remain anonymous said that Florance was difficult to deal with, but that he once found himself staring down the barrel of an assault rifle.

The pandemic started in March 2020. The 39 year-old, who was a communications director for the company, said he was on a conference call with the CEO and his two colleagues when the CEO pulled out an automatic blacksemiautomatic pistol from his pocket and pointed it at the screen.

Insider was told by the employee that it was inappropriate, quite jarring and showed a complete lack professionalism. “What if any one of us had been victims to violence in the past?”

Florance, who was at home in rural Virginia, was then mentioned by the employee. He then dropped the gun and said that he had seen bears around his property.

The CEO allegedly displayed his ammunition on the call and sent a photo months later showing a target with bullets.

Insider was informed by CoStar in writing that the alleged incident you refer to did not take place and that Florance is a licensed shooter and well-trained who is passionate about firearm safety.

CEO Andrew Florance, 58, CEO of CoStar, a powerful real-estate data firm, is accused of creating a toxic work environment causing more than 1,500 employees to leave in 2021

Andrew Florance, 58 is the CEO of CoStar, an influential real-estate data company. He is accused of creating a toxic environment that caused more than 1,500 employees leave in 2021.

A 39-year-old who used to be a communications director for the firm, said he was on a video call with the CEO when he pulled out a black pistol and pointed it at the screen

The 39-year-old, who was once a communications director for the company, claimed he was in a video call with the CEO and pulled out a gun and pointed it at the screen.

But the CEO also allegedly showed off his ammunition while on the call, and then months later sent a photo of a target riddled with bullets

However, the CEO allegedly also showed off his ammunition during the call and then sent a photo months later of a target stuffed with bullets.

In a text thread obtained to Insider, the former communications director texted his account to a colleague about the incident.

The text said, “I’m on call with Andy and is holding a gun.”

“He just pointed it at screen,” was the next text.

The recipient responded, “Is it loaded?” The recipient replied, “Is it loaded?”. She then added, “Whaaaaat?”

The former communications director wrote back, “He was also playing with a bullet,” before adding: “I was terrified lol.”

He said thatFlorance had told him he needed a gun for being in the mountains, and that ‘you never know what’s outside’.

Insider reported that the exodus included 1,546 of 4,200 US employees. According to data provided to Insider by an employee with access, the exodus was the largest ever.

In a previousInsider article. CoStar described discontent as a sign of its high performance expectations.

“We will not apologize to these standards, nor will they be compromised to accommodate a vocal minority who decide that this level is not for them,” it stated in a February statement.

However, negative reviews online and a meme account posted on Instagram are not good enough to prove otherwise.

Nate Peterson created an Instagram account for memes mocking the company. He was fired in 2021 and has over 2,300 followers.

Current and former employees have contributed their experiences at CoStar.

An Instagram account dedicated to memes mocking the company was created by Nate Peterson, and has more than 2300 followers

Nate Peterson has created an Instagram account to share memes mocking the company. He has more 2300 followers.

See Also

Current and former employees submit content to the Instagram account which is dedicated to mocking the company

Former and current employees can upload content to the Instagram account, which is dedicated for mocking the company

Interviews conducted by Insider revealed that more than 50 former employees described a toxic workplace with a ‘ruthless CEO’ who could ‘ridicule & callously fire employees’ and that he made workers fearful and uncomfortable by showing ruthlessness and unwanted attention to other employees.

Insider was told by one employee that Florance made a slam of her face while she was on a call from home. He accused her of being asleep and she didn’t pay attention.

She claimed she called him to complain about his comments, and that after the call ended, an HR employee called her to inform them she had been fired.

Five women revealed to Insider that Florance openly preferred young women in the office and made them feel uncomfortable, complimenting them on how they looked.

One woman claimed Florance approached them at the office and said, ‘I want you away for several days with a few people and lock ourselves in an room and figure out how to get this product.’ She said he told him. “You can choose where you want to go.

He replied that he would get the private jet when she suggested Europe. Although the trip did not take place, the woman admitted that it was awkward.

CoStar disputed allegations and characterizations of the company and CEO to Insider and instead described their boss as someone who is 'pro-family' and 'likes children'

Insider reported that CoStar refuted the allegations and characterizations made against the company and CEO. Instead, they described their bosses as being pro-family and loving children.

Insider reported that CoStar stated in a statement that it believed the insinuation was false. It mischaracterizes the situation as well as the purpose and intention of the requested meeting.

Dailymail.com reached the company to obtain comment.

CoStar denied the claims and characterizations made by the CEO and company to Insider. Instead, they described their bosses’ pro-family views and love for children.

Florance has been a great supporter of his workers, especially those in crisis.

Insider was told by CoStar that it has taken steps towards improving its workplace and benefits. This includes hiring an outside firm to conduct focus groups, allowing employees one day per week to work from home, and updating its parental leave policy.

View Comments (0)

Leave a Reply

Your email address will not be published.