Facebook is taking up 2.2 lakh sqft office space in Bengaluru as the world’s largest social network is logging into the country’s technology capital, people familiar with the matter said.
It has taken up the space in Embassy Golf Links, an office parkthat houses marquee clients IBM, Microsoft, Goldman Sachs and reinsurer Swiss Re, among others.
The city’s booming commercial market will now house all the Big Five tech firms — Facebook, Amazon, Apple, Microsoft and Google — or FAAMG, an acronym coined by Wall Street investors.
Sources told TOI that Facebook is expected to move into the new facility next year and will employ 2,200 people. The exact nature of operations is not clear immediately. The social network giant will pay a rent of Rs 130 per sqft, or Rs 34 crore a year, sources added. An email sent to Facebook didn’t elicit a response. Embassy Office Parks declined comment.
It has taken up the space in Embassy Golf Links, an office parkthat houses marquee clients IBM, Microsoft, Goldman Sachs and reinsurer Swiss Re, among others.
The city’s booming commercial market will now house all the Big Five tech firms — Facebook, Amazon, Apple, Microsoft and Google — or FAAMG, an acronym coined by Wall Street investors.
Sources told TOI that Facebook is expected to move into the new facility next year and will employ 2,200 people. The exact nature of operations is not clear immediately. The social network giant will pay a rent of Rs 130 per sqft, or Rs 34 crore a year, sources added. An email sent to Facebook didn’t elicit a response. Embassy Office Parks declined comment.
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