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US based Netflix to Open India HQ on Lease in Mumbai

28Dec By Gauri SinghNo Comments

BUSINESS

US based Netflix to Open India HQ on Lease in Mumbai

US based video streaming service provider Netflix has reportedly picked up 1.5 lakh sq ft office space in Bandra-Kurla Complex (BKC), Mumbai's new business district, on long-term lease to set up its India head office. The video streaming giant leased the office space spread over two floors in commercial tower Godrej BKC from promoters of D'decor Home Fabrics. Netflix will be paying a rent of 265 per sq ft a month for this office space taking the total annual pay-out to 47.70 crore. The total tenure of the lease is nine years and the contract includes a clause to cover 15% rental escalation at the end of every three years. India is one of the most lucrative markets for Netflix and it is looking to expand here and focus on original content for the local market. ...

Facebook to Have its Largest India Office in Bengaluru

The social media giant Facebook is eyeing to take up about 220,000 sq ft office space in Bengaluru which would be their largest office in India. The company has acquired the space in Embassy Golf Links, an office park that houses marquee clients such as IBM, Microsoft, Goldman Sachs and reinsurer Swiss Re among others. With this, The city’s booming commercial market will now house all the Big Five tech firms that include Facebook, Amazon, Apple, Microsoft and Google. The company is expected to move into the new facility next year which would supposedly have a headcount of 2,200. The exact nature of operations is not clear immediately, however, the rent stands at Rs 130 per sq ft, or Rs 34 crore a year. The Menlo Park-based company opened its first India office in Hyderabad, in 201...

SaaS Unicorn Freshworks Launches its Second India Office at Bengaluru

Customer engagement software company Freshworks launched its second India office at Bengaluru. This unit will act as a second engineering center and will be focussed on building new platforms and to dedicate more resources to its data science requirements. The SaaS unicorn is preparing for scale - and handling a larger customer base will require the extra hands onboard. This will also help the company to go upmarket and win over bigger deals. “Speeding up product development and enhancing our AI/ML capabilities will be the prime focus as we continue to invest in nurturing niche engineering proficiencies. Bangalore will strengthen our Platform Services, Data Science, Data Platforms and Site Reliability Engineering teams,” said STS Prasad, Senior Vice-President of Engineering at Freshwor...