DotLoop's Viral Growth Forces Move to New Office Space - Company Earns Tax Credit from City of Cincinnati for Move to Historical, Innovation Icon: Longworth Hall

CINCINNATI, Dec. 7, 2011 /PRNewswire/ -- DotLoop, the industry's only offer-to-close transaction hub, announced today it has chosen to move into a new space, twice the size of its previous space, into Cincinnati, Ohio's historic Longworth Hall in order to continue its explosive growth. The company now utilizes double the space of its previous office and expects its current staff of 40 employees to double or triple that number by the end of 2012. DotLoop has access to an adjoining space at Longworth Hall that will be utilized, as staffing needs increase to meet anticipated demand.

DotLoop received a 40 percent, five-year tax credit incentive from the city of Cincinnati to relocate its headquarters.  "We appreciate the tax incentives provided, and applaud the city of Cincinnati for the corresponding confidence shown in our growth prospects," said Austin Allison, CEO of DotLoop.

The company boasts more than 120,000 paying users most of which came on board in the last year and a half since the company's national launch. It is growing at a pace of more than 10,000 users for month due to national-level partnerships and positive word-of-mouth fueling agent adoptions. DotLoop recently signed another national enterprise deal with EXIT Realty Corp International, one of the fastest growing brokerages in the United States and Canada and formed a national partnership with RE/MAX LLC, one of the leading real estate franchise companies with the most productive sales force.

"Moving our team to a new space at Longworth Hall is another step towards changing the lives of the members we serve.  In addition to moving into a creative and productive space, our company will join several other technology companies who make the space a central point for innovation," said Mr. Allison. "With our recent national brokerage partnerships and increasing adoption of our platform, our growth is moving beyond expectations. This office is a great blend of historical charm with a modern design that captures the dynamism of our team and the entrepreneurial spirit of Cincinnati."

Listed on the National Register of Historic Places, Longworth Hall was originally the Baltimore and Ohio Freight Terminal, and is a sister building to the iconic Camden Yards in Baltimore. The office features 14-foot ceilings, hardwood and concrete floors, spiral staircases, and exposed beams and HVAC systems. Built in 1904, Longworth Hall was the largest structure of its type at its construction, measuring five stories high and 1,277 feet long, and remains one of the longest buildings in the country. The building is home to some of the top companies in the Midwest.

About DotLoop:

Headquartered in Cincinnati, Ohio, DotLoop is transforming the real estate industry by providing an online transaction hub where any real estate agent can share and sign transaction documents as if they were sitting at a round table together. With 120,000 paying users, DotLoop is one of the fastest growing software as a service in the industry and the only offer-to-close transaction hub. DotLoop is available to service all real estate professionals. The platform is a collaborative, web-based negotiation platform that lets users add, adjust, approve, and electronically sign documents - addressing the challenges of security, efficiency, and overhead costs in today's real estate industry.

For additional information visit www.dotloop.com or email [email protected]

SOURCE DotLoop

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