Report: Facebook Seeking New Headquarters
When word spread that Facebook would stop giving its Palo Alto-based employees $600 per month in housing money, the decision seemed unfortunate, or even mean. But the move may now make more sense, as Facebook reportedly plans to find a new corporate home next year.
"Facebook will relocate its Palo Alto-based HQ-scattered in about five buildings throughout the suburban town-to a single location," writes Kara Swisher. "New HQ [possibilities] include, first and foremost, the old Hewlett-Packard buildings on Page Mill Road, nearby to the west of Palo Alto."
She later continues, "Facebook has also been looking at locations in Mountain View and Sunnyvale, further south, as well as also considering a San Francisco location in the city’s recently redeveloped Mission Bay area."
In light of the overall economy’s weakness, now looks like a good time for Facebook to pull off this move. The company’s been gathering funds for some time, and even if profitability is an issue, it’s not a new problem. All in all, Facebook should be able to get some nice offices at an affordable price.
We’ll keep an eye out for more housing subsidies as this occurs. Look for Facebook to start hiring more people, too, as it gains fresh elbowroom.