The City's other social media startup with a valuation in the billions is reportedly threatening to move out of San Francisco if it does not secure a similar tax break that Twitter is about to get.
Zynga recently signed a seven year lease six months ago for an office space on Townsend Street. Now the Bay Citizen is reporting that Zynga has had meetings with city officials and threatened to turn the space into a call center if it does not get a tax break.
Under the City's current laws, it taxes employees when they sell their stock options. Zynga employs about 1,200 people and is valued at about $6 billion.
The tax hit would rip a deep hole in Zynga's pockets. Twitter is expected to be given a payroll tax exemption for new employees for six years.