Friday Mar 1, 2013 by Dennis Keohane - Contributor, VentureFizz
There was a great deal of buzz surrounding the official opening of PayPal’s new Boston headquarters on Thursday evening. A crowd of about four-hundred attended the event, including venture capitalists, entrepreneurs, and local students. Everyone was first welcomed by David Chang, the COO of PayPal Media Network, and then treated to an entertaining spin on ‘Shark Tank’ pitch competitions, the introduction of StubHub’s expansion into Boston, and a visit from Mayor Thomas Menino.
The unusual and entertaining “Reverse Pitch Smackdown” was run by PayPal Media Network’s GM, Walt Doyle and featured a host of local VC’s giving elevator pitches for four of the companies that are part of PayPal’s “Start Tank” incubator program.
The presentations were judged by a group of local entrepreneurs that included DailyBreak’s Boris Revsin, and Raj Aggarwal of Localytics, among others. David Beisel of NextView Ventures began by pitching Wanderu, the bus finding app. Atlas Venture’s Ryan Moore representing Twyxster, an inter-office web-based community platform. Then, Jon Auerbach of Charles River Ventures enthusiastically pitched Greenbean Recycle, an interactive recycling machine startup. The pitch event was concluded by Antonio Rodriguez of Matrix Partners putting on a show in his presentation on The Welcoming Committee. Three of the pitches received thumbs up from the judges, while Twyxster didn’t make the cut.
Raji Arusu, the CTO of StubHub, spoke about the company’s new plans in Boston. StubHub will be sharing some of PayPal’s space; but more importantly, it is seeking to immediately hire fifty new employees for its Boston development center. Strolling through the StubHub section of PayPal’s offices, desks were already set up to welcome the new hires. Both PayPal and StubHub are controlled by parent company eBay.
Mayor Menino spoke next and praised the company’s plans for bringing new jobs to Boston. The mayor also spoke about the work PayPal was doing and seemed excited about the promise brought by these companies setting up operations in Boston’s Financial District. Menino was followed by Gregory Bialecki, the Secretary of Housing and Economic Development for Massachusetts.
Below are some photos from
last night’s event. We are featuring a
full Office Tour slideshow of the new space on VentureFizz. You can check it out by clicking here.