Is Twitter Leaving San Francisco?
Twitter might be abandoning San Francisco in favor of Walmart.com's old headquarters in Brisbane, Calif.
The San Francisco Business Times said that the Brisbane location could be a viable options because it boasts 200,000 square feet and land that Twitter could build on if needed.
Twitter said in a December blog post that it has triple the number of employees that it did just a year ago. Company spokesperson Carolyn Penner told the Chronicle that Twitter's staff is now about 350 people strong.
"Based on our current growth trajectory, we can't stay on the two floors that we currently have," she said. "So, at some point we're going to have to look at other options."
But San Francisco is scrambling to keep Twitter, proposing incentives like payroll tax breaks and other offers that might motivate the social media company to stay.
"We love Twitter," Jennifer Matz, director of the San Francisco Office of Economic and Workforce development told the San Francisco Chronicle. "We're not surprised that other communities would like to have their headquarters located in their town, but we are going to do everything in our power to keep Twitter's headquarters here and help them find the space that allows them to grow."
Launched in July 2006, Twitter now has more than 175 million registered users. But most of its growth was achieved over the past two years. According to a recent study from social media analytics company Sysomos, 95 percent of Twitter handles have been created since January 2009.
Prior to that time, Twitter's growth had been relatively steady, albeit slow.
Twitter moved into 31,000 square feet in building Folsom Street in October of 2009, with just 30 employees. Shortly after, the Chronicle said it also nabbed another floor in the same space to make room for a growing staff.
Recently valued at $4.1 billion, Twitter is clearly an asset that San Francisco would like to hold retain.
Hope might not be lost for the city, however. The Chronicle said that Twitter has also looked at Centennial Towers in South San Francisco.