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What happens when your buzzier-than-anything company comes by more than $200 million in cash? You move, of course!
Putting its new money to good use, payments startup Square signed a lease on a 150,000 square-foot space at 1455 Market Street in San Francisco’s Central Market neighborhood. The office will accommodate roughly 1,000 employees at move-in. Lease terms were not disclosed.
Founded in 2009, Square is the San Francisco-based company mobilizing payments for businesses and consumers alike. The company is fresh off closing a $200 million-plus round giving it a $3.25 billion valuation. It also recently cemented a significant partnership with Starbucks to process all credit card transactions for the coffee giant. Square has more than 400 employees today but expects to staff up to close to 1,000 folks by the end of 2013. Hence the need for more space.
Square hasn’t started the packing process at its current office just yet, but it does hope to relocate to its new headquarters by mid-2013. Plus, it sounds as if the startup has interim plans to make the new workspace, well, not so square.
The company said it will start renovations at 1455 Market later this year and tear down interior walls to make its future environment more open and conducive to collaboration. On the blueprint are a rooftop deck, chef’s kitchen, and yet-to-be-disclosed bonus amenities for staffers. We also hear that renovations include cutting in windows in the building’s lower levels to expose more natural light.
Photo credit: Google Maps