Facebook Confirms It's Moving North

It was inevitable that Facebook would eventually need more space with more users than people actually living in the United States on the social network.

Tuesday Facebook confirmed the rumors and announced it is shifting its headquarters from Palo Alto to a 57-acre campus in Menlo Park, once home to Sun and now owned by Oracle.

Facebook said it will lease back the 11-building campus from the real estate investment firm RREEF, according to Palo Alto Online.

The move sets Facebook up for the long haul as the company looks to expand to help build upon its recent $50 billion valuation and the growing number of people across the globe flocking to the site.

Facebook currently has about 2,000 employees globally and the new campus alone will be able to house 6,100, if the company chooses to expand that much.

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