California Exodus

Another tech startup trades West Coast for booming Austin scene

Another tech startup trades West Coast for booming Austin scene

Austin skyline downtown Lady Bird Town Lake
Yet another burgeoning tech biz is relocating from LA to Austin. Visit Austin Texas/Facebook

The corporate exodus from the West Coast to Austin continues, with tech startup Markaaz recently relocating its headquarters from Los Angeles to the Capital City.

Markaaz plans to hire as many as 70 people by the end of this year and aims to expand the Austin workforce to about 150 by the end of 2022, according to Opportunity Austin, the Greater Austin Chamber of Commerce’s economic development initiative. Jobs advertised on the Markaaz website include software engineer and content manager.

The move by Markaaz is among several recent corporate relocations from the West Coast to Austin. They include software giant Oracle, real estate investment marketplace CrowdStreet, and e-commerce platform City Shoppe.

“To accommodate our growing organization, we needed to find a city for our corporate headquarters that aligned to our long-term business needs and core values,” Hany Fam, founder and CEO of Markaaz, says in an April 8 news release from Opportunity Austin. “Our core value of ‘do good’ — which emphasizes people who care about their impact on the world, the environment, society, the economy, and the communities we live in — aligned with the heart and soul of the Austin community.”

Markaaz, a platform for connecting small businesses with suppliers and business partners, made the move to Austin in March. The new headquarters is at the Foundry I mixed-use project, located at 310 Comal St. in East Austin.

Fam is former CEO of global insurance giant AXA and a former high-level executive at Mastercard.