Silicon Valley startup Fivestars to open operational hub in El Paso, Tx
Nancy Gonzalez / MexicoNow
Fivestars, a San Francisco-based rewards and marketing startup, is opening an El Paso office, the company informed.
“We’re excited to establish an operational hub for our company in El Paso, a city which loves local businesses and has an abundant talent pool to support our long-term goal to help small businesses everywhere turn transactions into relationships,” said co-founder and CEO Victor Ho.
Fivestars is the first Silicon Valley startup to choose El Paso as a significant base for growing its operations. The company plans to hire 50 people to be based in El Paso for 3 months, but it compromises to keep up to 90% of the workforce after this period. The amount of the investment was not disclosed.
Currently, the company is used by over 12,000 local businesses and 30 million consumers across the U.S. and Canada. Over 30 local businesses and over 150,000 users in El Paso already use Fivestars.
Fivestars was founded in 2011 by Victor Ho and Matt Doka who, after working together at the management consulting firm McKinsey, saw an opportunity to bring Fortune 500-quality rewards and marketing technology to local businesses. It has raised over US$ 105 million in venture capital funding.
Matt Doka, an El Paso native, was interested in establishing a large office in El Paso because of the quality of talent there and El Paso’s thriving local business community.
“It’s an amazing opportunity to return to put El Paso on the map as a city that Silicon Valley should look to for talent and quality of life for its employees,” he expressed.
Most of the company’s hiring in El Paso will occur in inside sales, customer support, and operations, the teams who directly support local businesses using Fivestars to attract new customers, personally engage them, and generate worth.
In 2017, Fivestars powered over US$ 2 billion in local commerce through its platform and expects to grow this to almost US$ 3 billion in 2018, according to the company´s data.