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Venture Capital

Latest Amenity for Startups: No Office

Software startup InVision held an all hands meeting in Los Angeles with roughly 500 employees two weeks ago. They had a hackathon. Coworkers mingled. A band made up of company employees performed a concert at the music venue El Rey.

The meeting was standard fare in the tech world, except for one major difference: InVision has no physical office for its employees. Instead, they are scattered around the world, working from home or coffee shops or any place with a WiFi connection. The all-hands meeting, which took place over several days with different events held in three Los Angeles hotels, was the first time many of them had ever been in the same room together.

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“Facebook is never going to work like this. Google is never going to work like this. But whatever replaces them will look more like a distributed company than a centralized one,” Mr. Mullenweg said.

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“Early on, you’d get a lot more of, ‘That’s crazy,’” from venture capitalists.“Now, you get a lot more of, ‘That’s smart.’ They realize how efficient it is from a cost basis.”