Facebook heads for a new Silicon Valley headquarters

facebook_invite2.top.jpg By Laurie Segall, staff reporter


NEW YORK (CNNMoney) -- Facebook is about to switch zip codes. The fast-growing company is poised to move its headquarters from Palo Alto, Calif., to another nearby Silicon Valley outpost.

The plans will be outlined at a launch event next week, to which reporters received invitations on Friday.

"The press event on Tuesday at Menlo Park City Hall is regarding a campus that will fit our long-term business needs," a company representative told CNN. "We'll be sharing more information at that time."

Facebook now has more than 2,000 employees supporting its 500 million users. It's got offices in 10 U.S. cities and a dozen international locations, including London, Paris and Tokyo.

A local Menlo Park newspaper reported last week that Facebook had purchased 22 acres of commercial property near Sun Microsystems' old campus. The company appears to be getting ready to take over that abandoned space.

Menlo Park -- located just a few minutes away from Facebook's current Palo Alto home base -- is a venture-capital hub. Firms headquartered along the city's Sand Hill Road stretch include influential tech investors such as Khosla Ventures, Kleiner Perkins Caufield & Byers, Sequoia Capital and Silver Lake Partners.

-CNN.com's Mark Milian contributed to this report  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,614.81 215.14 1.31%
Nasdaq 4,419.48 103.41 2.40%
S&P 500 1,941.28 37.27 1.96%
Treasuries 2.21 0.03 1.24%
Data as of 4:40pm ET
Company Price Change % Change
Apple Inc 102.47 2.71 2.72%
Bank of America Corp... 16.60 0.34 2.09%
The Coca-Cola Co 40.68 -2.61 -6.03%
Regions Financial Co... 9.26 0.10 1.09%
Micron Technology In... 31.19 1.50 5.05%
Data as of 4:02pm ET

Sections

Michigan governor Snyder signs bill that Tesla says will block it from opening either a store or showroom in Big Three's home state. More

Chinese iCloud users are facing a new wave of attacks -- not from cybercriminals, but from their own government. More

Startups focusing on "ag tech," or agricultural technology, are gaining the attention of farmers and investors More

Foreign workers, lured by false promises of good jobs and benefits in America, soon find themselves enslaved in plain sight as victims of labor trafficking, a report from the Urban Institute finds. Here's how it can happen. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.