Hot on the heels of its $1.1 billion acquisition of blogging platform Tumblr, tech giant Yahoo announced that it would open new offices in the former New York Times building, the newspaper reported. The move is part of Yahoo’s push to expand their New York City presence by 60 percent.
Yahoo will take four floors at the 767,000-square-foot Blackstone Group-owned building, located at 229 West 43rd Street and consolidate its New York employees, who currently work out of offices at 1065 Avenue of the Americas, 1540 Broadway, and 11 West 19th Street.
“For a while now,” Marissa Mayer, Yahoo’s chief executive, said in a statement, “Yahoo has been looking for a home here in New York. We have several hundred employees spread across several offices. And I’m proud to say that we’ve found it.”
Tumblr’s 175 employees work from offices at 35 East 21st Street, and they will not make the move to the Times Square offices, according to the Times. [NYT] – Hiten Samtani