Yardi Systems
{{Short description|Software vendor in California, US}}
{{Infobox company
| name = Yardi Systems, Inc.
| logo =
| logo_size =
| logo_caption =
| image =
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| type = Private
| hq_location_city = Santa Barbara, California
| hq_location_country = U.S.
| key_people = {{plainlist|
- Anant Yardi (CEO)}}
| num_employees = approx. 9000 (2024 estimate)
| website = {{URL|yardi.com}}
| industry = Technology, Property Management, Real estate
| founded = {{Start date and age|1984}}
| subsid = WeWork Inc. 60%
| module = {{infobox network service provider|child=yes|asn=16789}}
}}
Yardi Systems, Inc. is an investment, asset and property management software vendor for the real estate industry.{{Cite web|url=https://www.nytimes.com/2000/08/18/nyregion/residential-real-estate-a-computer-program-for-apartment-managers.html?searchResultPosition=34|title=Residential Real Estate; A Computer Program for Apartment Managers|first=Rachelle|last=Garbarine|date=August 18, 2000|via=NYTimes.com}} It provides products such as property management platforms and software.
History
{{Cleanup press release|section}}
Yardi Systems was founded by IIT Delhi alumnus, Anant Yardi{{Cite web|url=https://thebetterindia.com/265742/anant-yardi-systems-iit-delhi-grant-crores-donation/|title=Who Is Anant Yardi, Who Just Gave Rs 75 Cr To His Alma Mater IIT Delhi?|first=Anagha R.|last=Manoj|date=November 13, 2021|website=The Better India}}{{Cite web|url=https://theprint.in/india/us-based-software-entrepreneur-anant-yardi-donates-10-million-to-alma-mater-iit-delhi/765281/|title=US-based software entrepreneur Anant Yardi donates $10 million to alma mater IIT Delhi|first=Kritika|last=Sharma|date=November 12, 2021|website=ThePrint}} in Santa Barbara, California.{{Cite web|url=https://www.pacbiztimes.com/2016/01/29/yardi-systems-founder-shares-history-of-success/|title=Yardi Systems founder shares history of success | Pacific Coast Business Times|date=January 29, 2016|website=www.pacbiztimes.com}}
In 2010, Yardi Systems launched Yardi CRM, as part of the company's suite of property management software and integrated it with its own product, Yardi Voyager, a platform designed for real estate management.{{Cite web|url=https://www.crmbuyer.com/story/yardi-crm-for-real-estate-integration-integration-integration-75734.html|title=Yardi CRM for Real Estate: Integration, Integration, Integration|date=July 27, 2012|website=CRM Buyer}} The year also marked the acquisition of online real estate database, PropertyShark.{{Cite web|url=https://moneyinc.com/10-things-you-didnt-know-about-property-shark/|title=10 Things You Didn't Know about Property Shark|first=Garrett|last=Parker|date=January 4, 2019|website=Money Inc}}{{Cite web|url=https://www.globest.com/2010/04/01/yardi-systems-acquires-nyc-based-propertyshark/?slreturn=20240826-40216|title=Yardi Systems Acquires NYC-Based PropertyShark|website=benefitspro.com}}
By 2017, Yardi Systems would expand to 35 offices worldwide, keeping its headquarters in the United States.{{Cite web|url=https://www.pacbiztimes.com/2017/06/23/employee-reviews-rank-anant-yardi-among-top-ceos-in-the-nation/|title=Employee reviews rank Anant Yardi among top CEOs in the nation | Pacific Coast Business Times|date=June 24, 2017|website=www.pacbiztimes.com}}
In 2021, Yardi Systems acquired and redesigned listing service 42Floors.com adding it to its marketplace network, CommercialEdge.{{Cite web|url=https://bostonrealestatetimes.com/yardi-acquires-redesigns-innovative-cre-listing-service-42floors-com/|title=Yardi Acquires & Redesigns Innovative CRE Listing Service 42Floors.com|first=Boston Real Estate|last=Times|date=December 28, 2021|website=Boston Real Estate Times}} The year also marked the launch of a new product suite, Yardi Corom, which offers lease management, occupancy tracking and desk hoteling for flexible workplaces.{{cite news |title=Yardi Launches Workplace Management Solution for Commercial Occupiers |url=https://aithority.com/bs-investment/yardi-launches-workplace-management-solution-for-commercial-occupiers/ |access-date=12 September 2024 |date=6 July 2021}}
In 2022, Yardi Systems launched RentCafe CRM IQ, which enabled Yardi clients to manage prospects, applicants and residents through the leasing process.{{Cite web|url=https://www.globest.com/2022/08/03/yardi-releases-crm-software-for-multifamily-operators/?slreturn=20240826-40216|title=Yardi Releases CRM Software for Multifamily Operators|website=benefitspro.com}} Yardi Systems also partnered with Canadian digital insurance provider, APOLLO Insurance, to offer tenant insurance embedded into Yardi's software for Canadian tenants.{{Cite web|url=https://insurtechdigital.com/articles/apollo-and-yardi-in-new-embedded-insurance-partnership|title=Apollo and Yardi in new embedded insurance partnership|first=Alex|last=Clere|date=June 16, 2022|website=insurtechdigital.com}}
In 2024, following a partnership between Yardi Systems and Xfinity Communities, Xfinity Wi-Fi became available to users of Yardi product, RentCafe.{{Cite web|url=https://bbcmag.com/xfinity-service-to-be-offered-to-users-on-yardis-residential-portal/|title=Xfinity service to be offered to users on Yardi's residential portal|first=Brad|last=Randall|date=June 18, 2024|website=Broadband Communities}} The same year, Yardi Systems would acquire a 60% equity stake in WeWork.{{cite news |last1=Pollard |first1=Amelia |title=WeWork’s new owner pitches no-drama turnaround for Adam Neumann’s old company |url=https://www.ft.com/content/06eb3a4d-883d-46bc-bd84-8b3d9af6f55d |access-date=12 September 2024 |date=30 May 2024}}{{Cite web|url=https://therealdeal.com/national/2024/04/29/wework-to-exit-bankruptcy-with-sale-to-yardi-debt-restructuring/|title=WeWork announces deal to exit bankruptcy, avoid takeover by Adam Neumann|first=Erik|last=Engquist|date=April 29, 2024|website=The Real Deal}}{{cite web | title=Anant Yardi becomes majority stake owner of WeWork, David Tolley to continue as CEO | website=mint | date=2024-05-31 | url=https://www.livemint.com/companies/people/wework-appoints-anant-yardi-as-new-ceo-to-lead-company-post-bankruptcy-adam-neumanns-successor-11717135476070.html | access-date=2024-08-26}}{{Cite web|url=https://www.bbc.com/news/articles/cljj3nxze6lo|title=WeWork set to emerge from bankruptcy|website=www.bbc.com}}{{Cite web|url=https://www.bloomberg.com/news/articles/2024-05-30/wework-cleared-to-exit-bankruptcy-after-neumann-ends-buyout-bid|title=WeWork Cleared to Exit Bankruptcy After Neumann Ends Buyout Bid|date=May 30, 2024|via=www.bloomberg.com}}
On December 4th 2024, a federal judge denied a dismissal motion by Yardi Systems and other property management companies, in regards to an antitrust class-action lawsuit. In the lawsuit, defendants claimed that Yardi and others, used price-fixing algorithms to artificially inflate multifamily rental prices.MCKENNA DUFFY, v. YARDI SYSTEMS
Case 2:23-cv-01391-RS
References
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