SAN FRANCISCO — Personal finance company Credit Karma is moving its headquarters from SF to Oakland, California, which was announced by Oakland Mayor Libby Schaaf on Friday, December 11, according to the San Francisco Business Times.
The news comes after a $7.1 billion deal was closed last week by the company and Intuit Inc. Under this deal, Intuit Inc. would acquire Credit Karma.
Credit Karma has more than 1,000 employees globally and closed its SF headquarters back in July due to the coronavirus pandemic, which was reported by CNBC at the time.
The company initially rented space in Oakland back in 2019 with no mention of changing its headquarters.
In February 2020, when the Credit Karma-Intuit Inc. deal was announced, CEO Kenneth Lin said SF would remain as the company’s headquarters.
San Francisco News contacted Credit Karma, but they did not respond for comment before print.
Credit Karma is not the only company to announce that it is leaving SF.
On December 1, Hewlett Packard Enterprise (HPE) revealed that it was relocating to Houston, Texas.
PG&E revealed back in June that the company, just like Credit Karma, was moving its headquarters to Oakland, CA.
On the same day as Credit Karma’s announcement, Oracle announced that that it was relocating from Silicon Valley to Austin, Texas.