Fast-Growing Tech Co. Adds 2 Offices, Plans New Hires
Magnet 360 recently opened offices in Chicago and San Francisco and has plans for new hires and existing office expansions to keep pace with its rapid growth and to better serve clients nationwide.
The Minneapolis-based marketing- and technology-consultancy—which has reportedly experienced 1,231 percent revenue growth since 2010 as a result of clients’ and investors’ interests in its cloud computing and customer data services—opened a 2,500-square-foot office in Chicago and a 1,000-square-foot office in San Francisco in the past month.
Additionally, Magnet 360 recently moved from an existing shared-office space in New York to a larger, 5,000-square-foot space in lower Manhattan, which it will occupy alone. The company is also adding 10,000 square feet to its 20,000-square-foot Minneapolis headquarters. Managing Partner Scott Litman told Twin Cities Business that the local expansion will be completed in December.
According to Litman, the new offices and expansions of existing offices allow the company to better serve customers in various geographic locations.
“In each market, we have national and name-brand accounts that we work closely with, and having offices in the local markets makes it much easier to serve those clients and further develop our relationship with them,” he said.
To facilitate Magnet 360’s business development and account management services, particularly at the Chicago and San Francisco locations, Litman said the company has plans for “rapid expansion of staff through 2014.” The company has added 30 employees over the past year, he said.
In August, Magnet 360 was named to Inc. magazine’s list of the 500 fastest-growing privately held businesses in the United States, based on revenue growth over a three-year period.
Founded in 2001, Magnet 360 offers consulting services to clients including General Mills, Ecolab, and 3M. Its services include application and website planning, design, and development; marketing plan strategy and customization; and social media content strategy, among others. Magnet 360 currently employs approximately 100—roughly 90 of whom work in Minneapolis.