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The popular website has until now been occupying an open-plan loft in Soho, but is now preparing for a move to 340 Madison Avenue, which also used to be the New York headquarters of fellow networking site Facebook.
While it is reported that the deal is still weeks away from being completed, it looks likely that it will go through, according to the New York Observer.
Facebook, Linkedin and Google have all been active in the Manhattan office space market recently.
Currently, Facebook resides at 335 Madison Avenue in New York, which has up to 150,000 square feet of office space.
The Observer wrote: “With the world’s two most powerful social media companies just blocks from one another, for better or for worse, it seems only a matter of seconds before the classy office strip is dubbed Silicon Avenue (there, done).”
Currently, Twitter’s headquarters are at 795 Folsom Street in San Francisco. The company also has offices in Boston and San Antonio.
The Facebook rival will celebrate its fifth birthday on March 21st of this year. This is the day in 2006 when Jack Dorsey, one of the creators of Twitter, made his first tweet. Dorsey set up the network with Evan Williams and Biz Stone.
Stone recently told the Ottawa Citizen: “One of the things I told our team early on was that if Twitter is to be a triumph, it is not necessarily to be a triumph of technology but a triumph of humanity.”
“If we are successful it is not going to be because of our algorithms and our machines, it is going to be what people end up doing with this tool that defines us and makes us a success or not.”
Twitter’s projected revenue in 2010 was USD 150 million.
Editor’s notes: Twitter’s new office at 340 Madison Avenue was officially opened in October 2011. NYC Mayor Mike Bloomberg was present at the ceremony.
It is understood that Twitter subleased the 11,000 square feet of office space on the 6th floor from Facebook. Twitter was represented by JLL but details of the deal were not publicly disclosed.
As of June 2023, it was understood that Twitter had 20 office locations globally and the new CEO, Elon Musk, who purchased the company in 2022 for $44 billion, was actively encouraging its office workers to return to the offices following new remote and hybrid working trends that had been encouraged during the pandemic.