Tech Startup's $2B Office Takeover in the Bay Area

Moloco Expands Its Presence in the Bay Area

Moloco, an advertising technology company that has experienced significant growth over recent years, is expanding its footprint by leasing a substantial office space from Meta in the social media giant's hometown of the Bay Area. This sublease agreement will provide Moloco with approximately 60,000 square feet for a new headquarters located at 135 Commonwealth Drive in Menlo Park. This is double the size of its current headquarters in Redwood City, according to Joanne Wrenn, the chief people officer of Moloco.

For Meta, this move is part of a broader real estate strategy. The company started the year with 11 million square feet of office space in the Bay Area, as mentioned in a January filing, and is actively working to reduce its footprint by shedding 2 million square feet of that space. The shift in tenants on Commonwealth Drive is a direct result of this strategy, with the building having previously seen layoffs, including 45 workers in 2023, as noted in a WARN filing.

Moloco outgrew its previous headquarters due to rapid expansion, as stated by Wrenn. The company's headcount has increased by nearly 80% since the beginning of 2023, reaching almost 800 employees. This growth was further fueled by a funding round that valued the company at $2 billion.

The new Menlo Park office is set to open at the beginning of 2026, featuring desks for more than 300 workers, primarily engineers and product employees. Moloco is vacating its Redwood City office and taking over the remaining portion of Meta's lease. The company plans to seek a direct lease after the sublease term ends.

"We want to continue to be based centrally in Silicon Valley, where we have a connection to top talent in this area," said Wrenn. "It really is a long-term investment in the Bay Area."

In addition to the Menlo Park office, Moloco also maintains a location in San Francisco, which can accommodate a few dozen workers, along with offices in Seattle, New York, and several cities around the world. The company’s career site currently lists 39 open roles in the United States.

This trend of tech companies swapping office spaces is common in the Bay Area. It highlights that Meta and its large peers are not the only options for potential workers and desperate landlords. Companies such as Snowflake, Strava, Navan, and Zendesk are now occupying buildings that were previously held by Meta.

Wrenn expressed her satisfaction with the move, emphasizing that Moloco is joining a growing number of Bay Area tech startups building upon the efforts of previous companies. She described the new office as a "blank canvas" for her staff, providing a space for innovation, collaboration, and career growth.

Work in a Bay Area tech company and want to share your story? Contact tech reporter Stephen Council securely at stephen.council@HAWXTECH or via Signal at 628-204-5452.

More News
- Woman mauled to death by dogs in California park
- The surprising destination luring Calif. transplants with $10,000
- Wild pigs found with blue meat in California spark alarm
- Father of 7 dies in accident at Bay Area school

Sign up for daily HAWXTECH breaking news alerts here.
Sign up for HAWXTECH newsletters here.
Read the original article on HAWXTECH.