Portland real estate investment startup CrowdStreet says its headquarters are now in Austin

Adelicia Caree

CrowdStreet, a Portland startup that runs an online marketplace for real estate investments, said Friday that its CEO is moving to Austin, Texas, and that the company now considers that city its headquarters. “Austin has a number of benefits such as pro-growth economic policies that help job-creating businesses thrive,” CEO […]

CrowdStreet, a Portland startup that runs an online marketplace for real estate investments, said Friday that its CEO is moving to Austin, Texas, and that the company now considers that city its headquarters.

“Austin has a number of benefits such as pro-growth economic policies that help job-creating businesses thrive,” CEO Tore Steen said in a statement announcing the move. He said that Texas is among its top markets for investors participating in its marketplace.

For now, the shift consists only of Steen himself moving to Texas. CrowdStreet said it expects to hire 80 people this year and said that as it grows it will split new hires between its current Portland office, its new Austin headquarters and remote work.

CrowdStreet said it plans to maintain its office in downtown Portland “and a strong employee presence.”

Founded in 2013, CrowdStreet was among the second wave of technology startups that emerged in the years after the Great Recession. It has reported $25 million in outside funding.

Last year, the company laid off a fifth of its 110 employees citing a pandemic-related downturn in its business. But the company said Friday that its headcount has returned to a staff of 110, 76 of them in Portland.

Oregon employment has fallen 7.4% since the beginning of 2020, a slightly bigger drop than the national decline. But overall entrepreneurship appears steady, with new business formation actually accelerating during the pandemic.

— Mike Rogoway | [email protected] | twitter: @rogoway

Next Post

Roku Acquires “This Old House,” America’s No. 1 TV Home Improvement Program | Business

SAN JOSE, Calif.–(BUSINESS WIRE)–Mar 19, 2021– Roku, Inc. (NASDAQ: ROKU) announced today that it has acquired the “This Old House” business, inclusive of its global distribution rights and all of its subsidiary brands, including the “This Old House” and “Ask This Old House” TV programs, the show libraries, all digital […]