Instagram's NYC HQ Serves Free Booze And Gelato

Facebook's Instagram opened a second headquarters in New York City in a building that used to house one of the oldest department stores in the U.S. Instagram plans to move about one-third of its engineers to the NYC headquarters by the end of the year. Instagram is making its presence known in the Big Apple with its first New York office, where the company plans to eventually house up to 50 percent of its engineering staff. "We were just finding from a recruiting perspective it's going to be really great to just be able to expand," said Instagram co-founder and Chief Technology Officer Mike Krieger, in a recent interview at the company's New York open house. "It's really competitive in the Bay Area. It's competitive here as well, but I think we're newer here." While San Francisco and neighboring Silicon Valley are clearly the hub for techies, the combination of the high cost of living and the mad competition for talent is making it difficult for some companies to grow without breaking the bank. In addition to high salaries and stock options, Bay Area companies are known for offering loads of other costly perks. Instagram, which is owned by Facebook, isn't leaving the Bay Area. it's just going bicoastal. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC Instagram's NYC HQ Serves Free Booze And Gelato | CNBC

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