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Twitter will not spend any of its new pile of money moving to New York, company cofounder Biz Stone tells us.
“New York is an amazing, vibrant city but Twitter is definitely not moving. We’re based in San Francisco and this is where we will stay.”
The Wall Street Journal floated a rumour that Twitter was considering re-locating to the Big Apple twice in the past week.
Here’s the first instance, from Journal blog Venture Capital Dispatch:
Also of interest: Insight is based in New York, where Twitter is considering moving. As The New York Observer wrote last month, Twitter co-founder Jack Dorsey is personally relocating to New York. This would give Twitter its second New York investor including Union Square Ventures and more reason to move.
And here’s today’s mention:
Twitter has been considering moving to New York where it would be closer to Madison Avenue. It’s now got more reason to do so, since Insight is based here, along with Union Square Ventures and another investor, Betaworks. And Spark Capital and T. Rowe Price are also based on the East Coast.
Because Twitter plans to sell some ads, it does make sense for them to eventually open a satellite office in the city.