The biggest social media company just proved that they are here to stay for a long time. Facebook, Inc. just bought the land where their headquarters is renting and is now owning it, thanks to the $202 million deal that they got.
Reports at Curbed San Francisco state that the 57 acres of land where the Facebook headquarters stands over at the Menlo Park campus, was just purchased by the company so that they can finally call it their home. Facebook leased the place from Sun Microsystems back in 2011, when the social media giant became globally competitive.
According to the original report over at the San Francisco Business Times, the deal was expected to happen for a long time considering the success of Facebook over the past years since it started. The fact that their stocks went up by 158 percent, and having earned $4.5 billion from the previous $3.2 billion revenue, clearly shows that the company is gaining more attention from the market and the people.
As of now, Facebook owns about one million square feet that can be used as an office space, and the ever popular “Like” sign which turned out to be a tourist attraction. Currently, the social media giant just increased their employees from 8,348 in the previous year, to 11,996 in September 2015.
There are current developments that are happening in the land. According to Curbed, there is an office space that will use the 430,000 square feet of the property which will be designed and developed by renowned Canadian architect, Frank Gehry. Another development is in the works by Gehry, including the conversion of 180,000 square feet of warehouse to an office building, and a potential residential and retail space in the area as well.
Facebook users tallied to over 750 million worldwide in 2011, from just a million users seven years prior. The Facebook Messenger alone is being used by 800 million users worldwide. These are clearly massive numbers coming from this company.
