Square to open New York office to house 350 employees
25 April 2014 | 4350 views | 0
Payments startup Square is opening an office in New York's SoHo as it prepares to add more than 300 employees in the city.
The San-Francisco-headquartered mPOS pioneer has inked a 10 year lease on a 44,000 square feet space at 375 W Broadway and plans to move in this Summer.
Square already has a small presence in New York thanks to the 2012 acquisition of design agency 80/20. However, the new office will enable it to increase its staff in the city from a couple of dozen to 350.
Demetrios Marantis, head, international government, regulatory, and policy work, Square, says: "We are inspired by the innovation in New York State and thrilled to be near the world's leading financial center and part of its ever-growing tech industry."
Jack Dorsey's firm employs 800 people and recently moved into a new 150,000-square-foot corporate headquarters in San Francisco and also has offices in Atlanta, Kitchener-Waterloo, and Tokyo.
News of the expansion comes days after reports surfaced that Square held talks with Google about a possible sale amid growing losses and a shrinking cash pile.