Facebook Inc. significantly expanded its footprint in Palo Alto’s Stanford Research Park by signing a lease for another 265,000 square feet.
This marks the second move in a year for the social media company, which left downtown Palo Alto last spring for a 150,000 square foot building once owned by Agilent Technologies. The buildings at 1050 Page Mill Road had been vacated by the medical diagnostic firm, Beckman Coulter Inc., several years ago.
The news of the new lease comes as a report by comScore said the social networking company passed 100 million users in the U.S. in November, more than double last year's total. Its global user base is now estimated at more than 350 million.
ComScore said on Tuesday that Facebook had passed AOL as the fourth most popular Web property in the U.S., trailing only No. 1 Google Inc. (NASDAQ:GOOG), No. 2 Yahoo Inc. (NASDAQ:YHOO) and No. 3 Microsoft Corp. (NASDAQ:MSFT).
Source: Biz Journals
As Facebook expands MySpace is leaving huge amounts of office space in it's wake costing them more than $1 million / month. See post Empty MySpace Offices Cost $1 Million Per Month. It seems pretty clear who is winning and loosing in the Social Media arena.Office Space