[marothisu]

Originally Posted by Justin_Chicago

PowerReviews growing fast, finds new HQ

Matt Moog's purchase of PowerReviews continues to pay dividends for him and the Chicago tech community.

The company has doubled its headcount locally in the past year to about 135 and has outgrown its offices at 180 N. LaSalle St. PowerReview is moving to 50,000 square feet at 1 N. Dearborn St., more than doubling its current space.

It's a rare case of Chicago's tech community growing at the expense of San Francisco. Moog has shut down his company's San Francisco office and has either moved most of the jobs to Chicago or filled them with talent here, adding new positions.

Article: http://www.chicagobusiness.com/artic...t-finds-new-hq

I found this interesting from the article:

Moog kept both offices open, flying back and forth, but decided to wind down the San Francisco one. About a dozen people will continue to work from home in the Bay Area. Although Moog has long been a vocal proponent of the Chicago scene, co-founding Built in Chicago five years ago, he says his move was all about the business.

“For two years, I've had the experience of building a company simultaneously in San Francisco and Chicago,” he said. “Rents (in San Francisco) are twice as much as they are here. Hiring there is like a blood sport, with signing bonuses, recruiting fees and multiple offers. You're paying a 30 percent premium at least. The cost of living there is so high, with rents two or three times more than in Chicago.

“At the end of the day, it was expensive, hard to hire, hard to retain people. The talent is there, just like it is here. But there is more competition and more noise.”

PowerReviews isn't Uber or Postmates, but it's profitable and growing more than 30 percent annually, Moog says, though he declines to disclose the specific financials.

Though I have to laugh about "multiple offers" - that's normal Moog...that's normal.