London ‘Tech’ Credentials Surge With New Leading Social Network Brand
EntrepreneurCountry Global Monday, 18 July 2011.
Yammer, Inc., the leading enterprise social network, last week announced that it has chosen London as the home for its new headquarters. The headquarters will be based in TechHub, a venue located on City Road EC1 in the heart of 'Tech City', and will provide a central sales and client service hub for Europe, Middle East and African (EMEA) regions.
London's 'Tech City', the chosen location for Yammer's new headquarters, is a cluster for high-tech companies that will stretch from Shoreditch and Old Street – on the fringe of The City of London, to the Olympic Park in Stratford, East London. The area is already home to one of the largest concentrations of small, fast-growing digital technology companies in Europe, including Moo.com, Songkick, Wildfire and Tweetdeck. Following its expansion, Yammer plans to double the number of staff in the London office by the end of the year.
The company's move into London has been supported by London & Partners, the Mayor of London's promotional agency and UK Trade & Investment (UKTI), the Government body responsible for encouraging UK trade overseas and foreign direct investment into the UK. London & Partners' work to harness overseas investment in Tech City supporting the overall Government's ambition for London's East End to become a world-leading technology city.
Mayor of London, Boris Johnson welcomed the news today saying: "We want London to be recognised as the most innovative and globally connected city to do business in. My ambition is that we nurture and harness this creativity and energy and show the world the incredible possibilities of the Olympic Park and East London so it's recognised as one of the world's great technology centers. We welcome the news that a brand such as Yammer has decided to make London their new home and hope that many more will follow."
David Sacks, CEO of Yammer, said:
"The opening of our first European office in Tech City is an important step for us as an organisation as we expand our reach globally. London was a natural choice for us thanks to its excellent links to the rest of the region and the high quality of talent in the area. The support of UKTI and London & Partners has really helped streamline the process and made the establishment of our office simple and easy."
Lord Green said: "I welcome the announcement of Yammer's move to London. This is yet another significant win for London's Tech City, which has expanded to include more than 300 companies. We are determined that Tech City becomes the digital capital of Europe and attracts even more successful companies to establish a base there."
Yammer combined the concepts of social networking and workspace collaboration to create an enterprise social network connecting employees in companies of every size. Workers can easily sign up on yammer.com to connect with colleagues and quickly find answers to questions, brainstorm and share ideas, documents, videos and praise in real-time. Yammer archives the conversation threads making them searchable so employees can access the information months, even years later.
Yammer has over 2 million users and more than 40 percent of Yammer's traffic comes from users in EMEA, including employees from Capgemini, O2 and Vodacom.
To-date, Yammer has secured $40 million in venture capital funding and more than 80 percent of Fortune 500 companies are customers. With the new Tech City office, the company will join over 500 digital, creative and high-tech companies located in the Old Street and Shoreditch area.
Andrew Cooke, Interim Chief Executive of London & Partners, said:
"We are excited to have been able to assist a company like Yammer in establishing a presence in London. We think they will contribute to the ongoing development of Tech City and are a welcome addition to London's technology scene. We look forward to assisting them as they continue to grow and expand in the UK and Europe."
Eric Van Der Kleij, CEO of the Tech City Investment Organisation welcomed the move:
"It's great to see a company like Yammer opening an international office here in Tech City. London is a leading destination for technology companies and can provide a springboard for growth and expansion. The community growing here in Tech City is testament to that."