We’re back with our second edition to our Silicon Beach Series, highlighting the latest updates from the sunny tech hub of Santa Monica. But, that’s exactly what we’d like to talk about today- the expansion of Silicon Beach out of Santa Monica and into the surrounding areas. Santa Monica has been home to many brands that have shown tremendous success in the last few years but due to its limited square footage, brands are taking the initiative and expanding Silicon Beach into the nearby areas of Santa Monica.
In the past few months, we have seen some of Silicon Beach’s big name brands move their locations from Santa Monica into Playa Vista and Culver City. With 86% of LA’s 700 tech firms located in Silicon Beach, price per square footage has increased tremendously due to high demand in the past few years. Two of Silicon’s beach biggest players, Yahoo and The Honest Company, recently left the Santa Monica area to expand into Playa Vista where they would get a bigger space for a more affordable price. Even more expensive per square foot than Santa Monica, is Venice Beach - home to both Google and Snapchat.
Photo Credit: Dinesh Boaz
WeWork, a company that leases shared workspace offices, has capitalized on the movement to Silicon Beach, opening coworking spaces for startups and smaller companies to call home. WeWork has recently bought space in Culver City, proving that there is a high demand for office space outside of Santa Monica.
Lately, we’ve been seeing the industries of fashion and technology converge within Silicon Beach. As Los Angeles is notable for fashion & entertainment, these brands are starting to look for ways to expand their offerings through technology. JustFab has recently changed its parent company’s name to TechStyle, an ecommerce and fashion brand that has seen revenue hit up to $650 million. With that, their next step is testing, launching, and scaling ecommerce fashion brands.
We love being a part of the Silicon Beach movement, and we’ve partnered with brands in the area looking to expand their digital presence. We’re celebrating our launch this month at E.P. & L.P. in West Hollywood and we’d love to have you join us!