Cloud software company Snowflake moving its Silicon Valley headquarters to Montana
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The Snowflake logo seen displayed on a smartphone screen.SOPA Images/SOPA Images/LightRocket via Getty Images
The list of tech companies leaving the Bay Area or downsizing their office footprints just got a little longer.
Snowflake, a cloud software company, is no longer headquartered in San Mateo, as first reported by the San Francisco Business Times. Bozeman, Montana, will replace Silicon Valley address as its new “principal executive office.”
The odd title was chosen because the company said it actually no longer has a headquarters at all, instead championing a globally distributed workforce. In an earnings call this week, executives said they chose Bozeman because the Securities and Exchange Commission requires companies to designate a principal executive office. Since both CEO Frank Slootman and Chief Financial Officer Mike Scarpelli are based in the mountain town, th
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S.F. loses status as most expensive U.S. office market, dropping below Manhattan after five years on top
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A single car drives west on the San Francisco Oakland Bay Bridge on April 01, 2020 in San Francisco, California. The city has dropped to second-most expensive U.S. office market after five years on top.Justin Sullivan / Getty ImagesShow MoreShow Less
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The Manhattan skyline is seen at sunrise from the 86th floor observatory of the Empire State Building on April 3, 2021.ANGELA WEISS / AFP via Getty ImagesShow MoreShow Less
San Francisco has lost its status as the country’s most expensive office rental market, with asking rents falling below Manhattan for the first time in five years.