Square has already outgrown its home in the historic San Francisco Chronicle building and has now signed a lease for a new headquarters on Market Street in San Francisco, as it prepares to accomodate almost 1,000 employees by the end of 2013.
Square, which launched in 2009, has grown from 150 employees a year ago to more than 400 today. The official move, which will take place in mid-2013, will put Square a block from Twitter, Dorsey’s other company, which he founded and still works at.
The mobile payment company has been on a roll with a big $200 million funding round last month and a big deal with Starbucks (s sbux), which will integrate payments from Square Wallet early next month. Square also expanded into New York earlier this month with the acquisition of New York design firm 80/20. It is now processing $8 billion on an annualized basis.
It’s a nice win for San Francisco, which gets to hold on to a hot startup. And it puts more development right on Market Street, which is not so pretty in the blocks between Civic Center and the Union Square shopping district.