While industry insider chatter around Indeed centers around death and destruction at the hands of Google, LinkedIn, and Facebook, the real-world evidence points to a much rosier future for “the world’s #1 job site.” Case in point, Indeed’s hometown newspaper is reporting the company is moving into some pretty posh digs later this year.
In a written statement to the Austin American-Statesman, Indeed said it had signed a lease for the full Domain Tower, a property located on the north side of Austin. The 310,000-square-foot building is due to be completed by summer, and Indeed is expected to occupy the space in late 2018. Financial terms of the lease were not released.
“As the Austin economy continues to expand, we are seeing strong demand from companies looking for newly constructed Class-A office (space) to elevate their corporate brand and attract talented professionals,” said Kenneth Aboussie, Stonelake’s managing partner, to the American-Statesman back in 2016 when the real estate project was first getting underway.
I first visited Indeed and co-founder Rony Kahan in Austin back in 2008. It occupied a suite on the ground floor of an office building that no one would looked at twice. There were maybe a dozen employees there at the time, and I don’t even remember signage anywhere. There wasn’t a receptionist. Ten year’s hence, I can’t help but be impressed with where the company is now.
“This is Indeed’s fourth office location in Austin, allowing the company to accommodate its rapidly expanding team of employees dedicated to helping people get jobs,” the company told Austin reporter Shonda Novak.
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Indeed employs a little over 1,000 workers in Austin, which is the company’s North America headquarters. The company currently employs more than 5,300 people globally. The Texas company overseeing the real estate project said Indeed’s new lease is Austin’s largest office lease of 2017. Not bad for a job site doing business in one of the nation’s hottest cities, which will also see expansion from companies like Oracle, Google, Facebook, and Amazon.
Of course, this kind of growth doesn’t happen unless the bottom line is growing at a similar pace. Indeed revenue surged 68 percent in its most recent earnings report. The business is also expanding operations in Europe, the Middle East, and Africa. Mirroring the Austin update, Indeed is also moving into 216,000-square-foot office space in Dublin in 2018.