07/09/2012 07:47 pm ET Updated Jul 10, 2012

Pinterest Moves To San Francisco: Social Media Giant Leases SOMA Space (PHOTOS)


Not only has San Francisco been experiencing a tech boom that some have compared to that of the 1990s, but now Pinterest--one of the fastest growing social media firms in the universe--is moving from Palo Alto to SOMA.

"I am thrilled to welcome Pinterest to the 'Innovation Capital of the World' and am pleased that our efforts to attract and retain the industry's best and most innovative companies are working," said Mayor Ed Lee in a press release.


Lee also released an adorable Pinterest page featuring San Francisco's best sights and initiatives in celebration.

The announcement is just the latest in a recent tech boom in San Francisco. Twitter and Salesforce both signed long-term leases, a multitude of startups have sprouted in every corner of the city and Facebook snatched up San Francisco-based Instagram in April.

While Silicon Valley might be best for the sprawling megaplexes of Google and Apple, the chic lofts of SOMA and the previously vacant buildings in Mid-Market are filling up with the nation's hottest and scrappiest new innovators.

Last month, Reuters reported on the phenomenal pace of tech growth in San Francisco, noting that half or more of graduates of Stanford's famed tech incubator Y Combinator now move to San Francisco.

More than ever, technology entrepreneurs, and their investors and employees, are choosing the urban charms of San Francisco over the sprawl of neighboring Silicon Valley. In the South of Market district, the nexus of the city's tech industry, rents are soaring and latte lines are lengthening - conjuring memories of the dot-com bubble of the late 1990s.

Late last year the city had 34,000 tech jobs, topping the high set at the peak of the dot-com boom in 2001, according to a Jones Lang LaSalle analysis of California Employment Development Department data. Twitter,, Zynga, Yelp and other sizable Internet companies now call the city home.

And for the upcoming wave of young, nightlife-craving innovators and entreprenuers, the news couldn't be better.

Said Optimizely founder Dan Siroker to Reuters: "This is really where the center of gravity is."

Here are just a few of the tech giants that call San Francisco home:

Tech Companies In SF