Blippar shutters San Francisco office to reel in expenses
Blippar closes its San Francisco office
Former staff members estimated to Business Insider that the company was burning through $3m per month, a figure the company said was incorrect, however, it never disclosed its actual expenditure meaning the estimate from six former employees remains the closest guide accessible.
The closure of the San Francisco office, first reported by The Times, will ease the expenditure but the company is reportedly still far from turning a profit. The UK start up asserts it is in a “financially strong position” with it historically having raised just shy of $100m.
Blippar said, in a statement, that the relocation was part of a year-long process to combine its two Californian engineering teams into a single location in Mountain View. It said "the majority of the San Francisco team" have made the move.
It continues work in augmented reality and image recognition, with a staff in excess of 250. The company still maintains offices in London, New York, Los Angeles, Chicago, New Delhi, Bangalore and Singapore. It was launched in 2011.