Austin, Texas: We could create versus compete

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When Whitney Wolfe was considering where to base her dating app company, she decided Austin would best allow "us to build what we wanted to build on our own terms," Wolfe told CNNMoney.

Unlike Silicon Valley, where the startup scene is more intense, "we weren't looking over our shoulder comparing ourselves to the next person, and often times the next guy," she said. "This allowed us to go out and build what we felt was the company that would make an impact and make a difference."

Wolfe said being in Austin allowed the company "to focus on creating versus on competing."

First published September 27, 2017: 5:21 PM ET