PayPal is relocating from its 27,000 square-foot North Station office to a newly renovated 65,000 square-foot space in the Financial District. The space, located at International Place, will more than double PayPal’s current space and includes space for at least 5 local startups. David Chang, COO of PayPal’s Boston operations, says the company will make its move during the first week of December. The space was originally home to Where Inc., which was acquired by PayPal in April of 2011 for $135 million.
Renamed PayPal Media Network, the subsidiary focuses on technology regarding location-aware advertisements. In addition, the branch is developing technology that will allow users to purchase items with mobile devices. The new office will house approximately 320 employees.
In a strategy to obtain an innovative advantage, the company aims to institutionalize its startup efforts in the Financial District.
The Boston Business Journal reports that the following 5 startups are set to occupy space in PayPal’s new buildings: BuysideFX, Greenbean Recycle, SkillHound, Wanderu, and Nsyrt.