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Cloud software company Snowflake has become the latest tech firm to leave Silicon Valley, opting instead for offices across the country rather than a single headquarters.
In a filing this week with the Securities and Exchange Commission, the company explained, “We are a Delaware corporation with a globally distributed workforce and no corporate headquarters.”
In reporting first-quarter earnings Wednesday evening, the company’s dateline appeared as “No-Headquarters/BOZEMAN, Mont.”
“For purposes of this report, we have designated our office in Bozeman, Montana as our principal executive office, as that is where our Chief Executive Officer and Chief Financial Officer are based,” the company said in a filing. Snowflake, formerly headquartered in San Mateo, California, still has a large office in Silicon Valley.
Its step away from Silicon Valley builds on a trend of major tech companies moving away from the industry’s main hub in the US.
Palantir previously moved to Colorado and derided Silicon Valley and the values of its residents. Oracle and Hewlett Packard both moved to Texas last year, as did Tesla and SpaceX CEO Elon Musk.
Other Bay Area heavyweights like Dropbox, Twitter and Facebook have offered permanent remote work to most employees.
Critics of the area have cited high costs of living, high taxes and lawmakers that are unfriendly to business.
Politicians in other states, meanwhile, have been working hard to get a piece of Silicon Valley. Miami Mayor Francis Suarez, for example, has made headlines for his efforts to cultivate the city into a new tech hub.
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