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 17,265.99 109.14 0.64%
Nasdaq 4,593.43 31.24 0.68%
S&P 500 2,011.36 9.79 0.49%
Treasuries 2.63 0.03 1.12%
Data as of 4:32am ET
Company Price Change % Change
Bank of America Corp... 17.04 0.27 1.61%
Yahoo! Inc 42.08 -0.50 -1.19%
Apple Inc 101.79 0.21 0.21%
Microsoft Corp 46.68 0.16 0.34%
General Electric Co 26.21 0.16 0.61%
Data as of Sep 18

Sections

Alibaba officially secured its place in history as the largest U.S.-listed IPO of all time. The company will be worth $168 billion. More

The Federal Reserve is probably not going to raise interest rates until the summer of 2015 at the earliest. More

Immigrant entrepreneurs leverage connections abroad to boost international exports -- and non-immigrants could stand to learn from their tactics. More

A 10,000 square-foot home doesn't take care of itself, and many of the uber wealthy families who own them don't want to tend to them either. So they hire people like Bryan Peele. Here are journal entries from a day in his life. 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.