TikTok’s New Office, Source Day Raised $31.5M

Last week, there was a flurry of big tech news, including an announcement from Georgetown University, which is located nearby. TikTok announced the opening of a new office, as well as the purchase of another company and the raising of venture financing.

TikTok has taken over a significant office space. For more than 125,000 square feet of office space, TikTok, the well-known video and content production app, has inked an agreement. According to reports, the new office would be located at 300 Colorado St. in the downtown district and will have six stories. TikTok stated that it expected to hire hundreds of new people in 2020. Currently, dozens of positions are available on TikTok’s career page for the company’s new Austin headquarters.

RentTrack was bought by Self Financial. Self Financial aims to make credit development more accessible by providing a platform and tools that assist consumers in establishing credit histories. RentTrack, a firm that provides rent reporting, was bought by the corporation. LevelCredit, which allows users to build credit by making regular utility payments such as mobile phone and water bills, is also included in the acquisition of the company. Self Financial will be able to interface with the two systems following the purchase, resulting in a single credit building platform.

CelLink is set to debut in Georgetown in the near future. CelLink is a company that specializes in the development of flexible circuits for battery packs and electric cars. The firm, which is located in California, has announced that it will establish a 300,000-square-foot manufacturing plant in Georgetown. Approximately 2,000 additional employees will be hired by the corporation to work in the new facility, which will be ready for use by the summer of 2018.

SourceDay was able to raise $31.5 million. A Series C investment headed by Norwest Venture Partners saw SourceDay receive $31.5 million in a funding round. SourceDay is a cloud-based supply chain management tool that facilitates the connection of suppliers and manufacturers.