AOL Builds Up Local Presence Amid Turnaround Push
AOL Builds Up Local Presence Amid Turnaround Push
AOL Inc. is bolstering its Silicon Valley presence as it seeks to tap the region’s engineering talent and entrepreneurialism, making it the latest in a long line of tech firms not based here to boost their Bay Area foothold.
Even as it lays off a third of its total work force, or 2,300 employees, AOL is increasing its Bay Area staff from 300 people to as many as 600 this year. The New York-based Internet company is hiring sales professionals, engineers and others to work on the technology systems that power its advertising, instant messaging and other Web products and services. It also is trying to strengthen its ties to the start-up community, largely through a new venture-capital arm that will invest in local companies.
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Meanwhile, Finland-based Nokia opened a research center in Palo Alto in 2006. In August, mobile-phone maker Sony Ericsson, a joint venture between Sweden’s Telefon AB L.M. Ericsson and Japan’s Sony Corp., announced a new division in San Jose that will focus on the convergence between mobile and Internet.
The buildup is likely to bolster the Bay Area’s job and real-estate markets, which have held up relatively well compared with other parts of California during the recession. AOL currently is negotiating a lease for a new office space to house its expansion and plans to consolidate operations now spread among four offices in Mountain View and San Francisco.
The Valley is back! The predictions of 10% appreciation this year – in the bag!
When FaceBook and Zynga and Twitter IPO? Watch out Manhattan! We are totally going to crush you!
February 5th, 2010 at 6:28 pm
Could be because AOL can get some sweet deals on office space here. I swear it looks like that sign makers are having a boom with all the work they’re getting making “For lease” signs attached to 70% of the buildings I see on my way to work. That and since a big swath of Engineers are now laid off, they can likely get em’ for cheaper too.
By the way… I didn’t know AOL even existed anymore.
February 5th, 2010 at 8:53 pm
By the way… I didn’t know AOL even existed anymore.
That’s because without their headquarters here, they are irrelevant.
(Yes, I’m kidding. But they’re still irrelevant.)
February 5th, 2010 at 10:01 pm
I think the availability of office space and talent here is going to pull a lot of companies into the valley. Many of the elements that caused the growth of the valley in the first place have resurfaced.
February 5th, 2010 at 11:02 pm
and that means good things for real estate!
February 6th, 2010 at 11:01 am
Many of the elements that caused the growth of the valley in the first place have resurfaced.
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Like lots of free garage space where next Wozniak and Jobs can make their next Apple, right?
February 6th, 2010 at 8:32 pm
Judge bans Pratt and Whitney from moving 1000 jobs overseas.
This is a step in the right direction. We don’t need bogus federal programs to create jobs. All we need to do is to stop jobs from going overseas, and to curb unneeded H1Bs from flooding the job market here.
February 7th, 2010 at 7:40 am
All we need to do is to stop jobs from going overseas
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He he! Looks like RealEstater’s pants are on fire.
I understand there are inconveniences for jobs going overseas (inconvenience like like staying up till 2AM), but in the end this is all for good – staying high in “food chain”. And that means:
1. “More value out of people” like RealEstater.
2. More innovation and management, which result in jobs with higher pay” for RealEstater.
3. More profitability and competitiveness.