Recently, Square opened up an east coast office in New York City to help with their expansion moving forward. Square was finding that it had begun running out of steam as far as getting new businesses signed up, so hiring sales teams to tackle getting the larger companies on board was the next logical step. In a very unprecedented move, Square has opened up yet another office in the bay area (where the company is headquartered) to house an additional 50 sales staff. Located in Santa Clara, the aim of this office is to relieve the burden of commuting into San Francisco and also to make it easier for sales staff to visit businesses in the greater bay area.This move also comes only shortly after they upgraded their headquarters to a much larger building less than one year ago because of the massive growth the company is facing. The company nearly doubled the amount of sellers using Square as their payment gateway since 2012, so their cut of the revenues has the company trying to play “catch up” with their size and workforce. With well over 100,000 retailers using Square in the bay area alone, it’s easy to see why continuing to expand so close to their roots is a very good idea.
On top of all that, the company’s CEO Jack Dorsey has made no secret of his feeling on doing business directly with working cities. The opportunity for growth in these cities is unparalleled with anywhere else on Earth, so planting roots and sending out the sales teams can yield great results in these types of population centers. Jack Dorsey even claims that he has intentions of becoming Mayor of New York City one day, a bold ambition that shows just how much he loves being entangled in city life.
Though the idea of Square opening another office isn’t anything new with offices also in Tokyo, Kitchener-Waterloo, and Atlanta, this is the first time they have built 2 in such close proximity to one another. Though some critics complain that they should be targeting other major cities like Chicago or Dallas, the proof is in the pudding and Square is continuing to make money despite their clinging to home turf and seemingly slowing the pace at which they grow.