Thursday, May 23, 2013

RetailNext is Expanding in Downtown San Jose

RetailNext is a "big data" startup that has just raised an extra $15M and is about to sign a lease for a new space Downtown. They will be doubling their footprint from around 8,000 SQFT to between 15,000 and 16,000 SQFT. Their CEO said they like it Downtown, and cited the improving restaurant scene, proximity to the airport and hotels, and how affordable it is compared to other business districts in the Valley.

With the larger office comes more jobs. They are expecting to add 15-20 more people to the current 50-person team over the next year or year-and-a-half.

A smart strategy for Downtown would be catering more towards startups like RetailNext that could grow in San Jose as opposed to trying to hook the largest fish in the ocean with whole-building leases. We already have tons of incubators and organizations like NextSpace Downtown, plenty of infrastructure, and some success stories like Pinger and Intacct. These companies are the future of Silicon Valley, so I hope to see many more of them making Downtown their home.

Source: SVBJ

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