Portland's Jive to move HQ to Silicon Valley, names new CEO |
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Portland's Jive to move HQ to Silicon Valley, names new CEO
Jive Software, one of the Portland's most promising technology statups, announced today that it plans to move its headquarters to Silicon Valley this fall. The decision -- which comes along with the announcement that former Mercury Interactive CEO Tony Zingale has been tapped as the company's permanent CEO -- is a setback for the Rose City's technology community even though it was expected.
Jive's presence in Portland has been a source of community pride over the years, and the fact that it is pulling out during an economic recession has got to hurt.
Jive is putting a positive spin on the HQ transition, with co-founder Bill Lynch writing in a blog post that the move will have "little practical change in our day-to-day operations." Lynch notes that the company plans "aggressive hiring" in Portland, where dozens of workers have been added in the past few quarters.
"We've recently blown through all available desks and plan to build out the fifth floor in our building," Lynch writes. "Portland is by far our biggest office and will remain that way for a long time. Most of our open jobs will be open in either Portland or Palo Alto (and increasingly in Boulder, CO). Put simply, our goal is to hire the best people no matter where they live. Portland has been (and remains) a great source of talent and we're committed to the long term."
While those statements should be comforting to some in Portland's tech circles, The Oregonian's Mike Rogoway paints a slightly different picture. While Rogoway notes that Jive will continue to employ 150 people in Oregon, he reports that the HQ move "strikes a psychological -- if not economic --blow to Portland's high-tech aspirations."
There's also the fact that Jive noted in today's release that it plans to expand its Palo Alto offices, boosting employment from 50 to 100 people by early next year. By the end of next year, it could have as many as 200 people in Silicon Valley.
"Our reason for being in the valley is really clear — this is where the talent resides," said Zingale told The San Jose Mercury News.
Jive -- which makes collaboration software that helps employees share information with one another -- is backed by Silicon Valley's Sequoia Capital. It pulled in $12 million in funding last fall, which followed a $15 million round in 2007. The Wall Street Journal reports that the company could be an IPO candidate in 2011.
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