The breakout social media site Pinterest is relocating its headquarters from Palo Alto, California, to nearby San Francisco. This move was announced by the company's CEO Ben Silbermann and San Francisco Mayor Ed Lee.
"I am thrilled to welcome Pinterest to the 'Innovation Capital of the World,' and am pleased that our efforts to attract and retain the industry's best and most innovative companies are working," said Lee.
Although Silbermann indicated he would like to settle the young company in the Bay Area for the long run, he only signed a short-term lease, according to Business Insider. According to the news source, Barry Schnitt, the company's communications chief, stated that the business is still finalizing its long-term plans.
TechCrunch speculates that Pinterest chose the city for its wealth of similar startups and reasonably low rents. Although he didn't mention specific reasons, Silbermann noted that the company is excited to see if the city's reputation for fostering young companies proves true.
"We're pleased to now call one of the world's great cities home," he said. "Thanks to Mayor Lee, his team and everyone who has helped make this move possible."
Although it's not moving out of state, Pinterest's move to San Francisco could be complicated. Using corporate relocation companies to smooth the moving transition can make the whole process a great deal easier.