Former Palo Alto startup Pinterest is returning to its hometown.
The growing social-networking giant, which just celebrated a $10-billion initial public offering on April 18, plans to open an engineering office in a portion of the three-story building at 395 Page Mill Road that also serves as the headquarters of analytics company Cloudera, a spokesperson from the San Francisco-based company confirmed on Thursday.
This will be Pinterest's first Bay Area office outside of San Francisco since the company moved its headquarters there in 2012.
The company confirmed that Pinterest is subleasing the space and will move into the building later this year, but provided no specifics on the number of employees that will work at the site. The company currently employs about 1,700 people in 23 offices around the globe, according to its website.
"We've been proud to be part of the SoMa neighborhood in San Francisco for years. It's where we are headquartered, and where our Bay Area employees work from at this time. But Pinterest started in Palo Alto. We know there's amazing talent and a vibrant community, so it was the right choice for our first office outside the city," the spokesperson told the Weekly.
According to the city's planning records, Novo Construction is making $850,000 in interior improvements to a 49,000-square-foot space in the Page Mill office building located four blocks from the California Avenue Caltrain station. Since 2016, Cloudera has leased the entire 225,000-square-foot building, subleasing 105,000 square feet of excess space to mobile game maker Machine Zone. A spokeswoman from Cloudera said Pinterest is subleasing the space from Machine Zone, not Cloudera.
After its construction in 2000, the property was leased by Google and later by AOL, which subleased space to Disney Interactive and Medallia and invested millions of dollars into adding a gym, cafe, auditorium and a ground floor incubator space for fledgling companies.
Pinterest's move into Palo Alto is the second real estate deal the company has made over the past two months. In March, the company leased nearly 490,000 square feet at 88 Bluxome St., a mixed-use project in San Francisco's South of Market neighborhood, marking the city's largest transaction since Facebook's record-breaking lease of 755,900 square feet at Park Tower in May 2018. The new office, expected to open in 2022, will have space for more than 3,000 employees, according to the San Francisco Business Times.
Pinterest, which was founded in a 4,600-square-foot, one-story office building at 635 High St. in downtown Palo Alto in 2010, relocated its headquarters to San Francisco two years later, citing reasonably priced office space and technology talent as reasons for the move.
The social media company allows users to collect photos and "pin" the images into categorized collections, or boards. Users can create multiple pinboards, which can be shared with followers.