5th Tech Company Moves to Central since Passage of Landmark Payroll Tax Exclusion & Brings 160 Jobs to Continue Neighborhood Revitalization
4/11/12—Mayor Edwin M. Lee today announced that social network company Zoosk has signed a 52,000 square-foot lease at the historic building at 989 Market Street to house their global headquarters. The new office space will accommodate Zoosk’s rapid growth as they expand from 102 employees in San Francisco to a planned 160 employees by the end of 2012.
“The decision by Zoosk to move to Central Market is yet another major validation of our strategies to revitalize the neighborhood with new jobs and technology,” said Mayor Lee. “It is only fitting that a social networking company with over 50 million members is now moving into this prime location to join social networking pioneers such as Twitter in Central Market’s new technology cluster in San Francisco, the ‘Innovation Capital of the World.’”
“Zoosk is experiencing tremendous growth, having more than doubled its staff and revenue in the last year. We needed more room to grow and a location that will help attract top talent. We also wanted a space that was more in-line with Zoosk’s fun and creative culture instead of a traditional, corporate office. So when we saw 989 Market, it was definitely love at first sight,” said Zoosk Co-Founder and Co-CEO Alex Mehr. “We’re excited to join the growing roster of San Francisco’s most-innovative technology companies and the city to rejuvenate central market.”
This new lease more than doubles Zoosk’s current Financial District foot print of 21,000 square feet. The Office of Economic and Workforce Development (OEWD) estimates that this new lease will allow Zoosk to grow to more than 340 employees over the term of their lease with room to grow. Joining 989 Market’s other tenant, Zendesk, the building is now fully leased.
“The speed at which this building leased out speaks to the interest and demand for space in Central Market” said OEWD Director Jennifer Matz. “Not only do companies continue to Start, Stay and Grow in San Francisco but the dramatic rise in leasing, new construction and property sales in the Central Market shows that our efforts to revitalize the area are working.”
In the wake of the Central Market payroll tax exclusion passed last year and the City’s coordinated efforts to revitalize Central Market, the neighborhood has seen increased leasing of office space from technology companies. Technology companies have leased over 380,000 square feet of office space on Central Market including Call Socket (30,000 square feet), One Kings Lane (52,000 square feet), Twitter (215,000 square feet), Zendesk (35,000 square feet) and Zoosk (52,000 square feet).
Zoosk is the social network that helps members create and share their romantic journeys, with millions of members from around the globe enjoying the service each month. Zoosk provides members at different stages of their romantic journey with a fun and social set of tools such as Romantic Moments, Couple Profiles, and the Personals application. Members can easily access Zoosk’s services from its website, its Facebook app, mobile devices, and a downloadable desktop application. Zoosk is available in 25 languages and has members in more than 70 countries. Founded in 2007 by Shayan Zadeh and Alex Mehr, Zoosk, Inc. is based in San Francisco and backed by Canaan Partners, Bessemer Venture Partners, and ATA Ventures.
Last updated: 4/18/2012 2:55:08 PM