Pinterest inks lease for new engineering office in Seattle

Pinterest is moving into a new, permanent office space in Seattle after working out of a WeWork location for the past eight years, GeekWire has learned.

The content-sharing giant confirmed that it will occupy a new 21,520 square-foot space at Met Park East building, just north of downtown Seattle.

Pinterest first planted roots in Seattle in 2016. The city represents one of Pinterest’s largest engineering hubs.

The San Francisco-based company declined to provide details on Seattle-area headcount. Pinterest had more than 4,000 employees as of Dec. 31 of last year.

Pinterest reported revenue growth of 21% to $854 million in its most recent quarter, with net income of $9 million. The company’s stock is down more than 6% this year.

Pinterest is one of more than 100 other companies that operate satellite engineering offices in the Seattle area, tapping into the region’s robust tech talent pool. Fintech giant Brex recently opened a new office in the Met Park West building.

The Seattle office market is still struggling with the rise of hybrid work policies, reaching a 30% vacancy rate in the third quarter, according to a new report from Colliers. That’s up from around 10% before the pandemic.