Cloud software program firm Snowflake has change into the newest tech agency to depart Silicon Valley, opting as an alternative for workplaces throughout the nation somewhat than a single headquarters.
In a submitting this week with the Securities and Trade Fee, the corporate defined, “We’re a Delaware company with a globally distributed workforce and no company headquarters.”
In reporting first-quarter earnings Wednesday night, the corporate’s dateline appeared as “No-Headquarters/BOZEMAN, Mont.”
“For functions of this report, now we have designated our workplace in Bozeman, Montana as our principal government workplace, as that’s the place our Chief Government Officer and Chief Monetary Officer are primarily based,” the corporate mentioned in a submitting. Snowflake, previously headquartered in San Mateo, California, nonetheless has a big workplace in Silicon Valley.
Its step away from Silicon Valley builds on a pattern of main tech corporations shifting away from the trade’s foremost hub within the US.
Different Bay Space heavyweights like Dropbox, Twitter and Fb have supplied everlasting distant work to most staff.
Critics of the realm have cited excessive prices of residing, excessive taxes and lawmakers which are unfriendly to enterprise.
Politicians in different states, in the meantime, have been working exhausting to get a chunk of Silicon Valley. Miami Mayor Francis Suarez, for instance, has made headlines for his efforts to domesticate town into a brand new tech hub.