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 17,417.65 226.28 1.32%
Nasdaq 4,684.28 46.29 1.00%
S&P 500 2,022.95 20.79 1.04%
Treasuries 1.75 0.03 1.57%
Data as of 3:44pm ET
Company Price Change % Change
Apple Inc 118.97 3.66 3.17%
Yahoo! Inc 43.67 -2.79 -6.01%
Bank of America Corp... 15.44 0.25 1.61%
Facebook Inc 77.20 0.96 1.26%
Microsoft Corp 42.08 0.90 2.17%
Data as of 3:32pm ET

Sections

The Wednesday announcement that Don Thompson will retire as CEO of McDonald's leaves just two black CEOs in the elite Dow 30. More

The Wednesday announcement that Don Thompson will retire as CEO of McDonald's leaves just two black CEOs in the elite Dow 30. More

China has new rules for foreign tech firms: become a spy tool and give up your highly-guarded computer source code. More

On demand delivery startup WunWun is expecting its order volume to double by the time they close up shop on Monday. All thanks to a blizzard. More

The IRS said it has carried out thousands of audits of offshore schemes and pursued criminal charges that have resulted in "billions of dollars in criminal fines and restitutions." And it won't stop there. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.