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02
City of Pleasanton
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2019
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051619
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12/3/2019 12:04:50 PM
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5/13/2019 3:06:33 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
5/16/2019
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TriNet, Which Was founded in 1988, Went through <br />private equity ownership by General Atlantic <br />and completed eight acquisitions before <br />going public in 2014 at a $1 billion valuation. It <br />has more than tripled in size over the last five <br />years with a current market capitalization of <br />$3.5 billion. CEO Burton Goldfield attributes <br />the company's success to two key factors: "the <br />Large addressable market, where 27 million <br />people go to work every day in our SMB target <br />market and a radically different [go -to -market] <br />approach compared to our competitors." <br />TriNet tailors its platform to various industry <br />verticals. The company was initially focused <br />on software tech companies, but has since <br />branched out with vertical platforms for the <br />financial services, non-profit, life science and <br />other industries. "We believe that understanding <br />the industries we serve is necessary to provide <br />tailored HR services for our customers and <br />we've been highly successful and grown over <br />time because of the value of our offerings." <br />17 <br />TriNet's move to the Tri -Valley Was driven <br />by access to talent and intentional focus <br />on enhancing corporate culture. <br />Mirador: What drove you to move your <br />headquarters to the Tri -Valley? <br />Burton: It is all about our people and having <br />access to great talent, TriNet is a $3.5 billion <br />publicly traded company that provides <br />extraordinary HR expertise tailored to thousands <br />of SMBs throughout a wide range of industries <br />across the US. As we continue to grow we <br />need access to top talent. We also have an <br />opportunity to present a more balanced Lifestyle <br />for our employees and prospective employees. <br />We saw a unique opportunity moving to Dublin, <br />with great access to public transportation, <br />retail and recreation. Additionally, we have a <br />strong company culture that is at the heart of <br />everything we do. We consolidated multiple <br />locations and brought them together under <br />one roof in our new Dublin headquarters. <br />Mirador: Have you noticed any competitive <br />advantages since the move? <br />Burton: I am pleased with the talent we have <br />attracted in the Tri -Valley area and believe <br />there is potential for additional talent as we <br />continue to grow. I look at the thousands of <br />people that stand on the Dublin BART platform <br />every day, headed to San Francisco, and <br />see an opportunity for them to work locally <br />without ever leaving their hometown. <br />2019 year-to-date, shares of TriNet are up <br />roughly 45%, and the company is well positioned <br />for growth. "The opportunity to give SMBs <br />additional technology, great service and <br />benefits will only grow over the next 10 years." <br />
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