The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The retail chain already operates a similar office in San Francisco.
Target Corp. has opened an e-commerce research office in Silicon Valley.
The retail chain’s move follows the opening in 2013 of the Target Technology Innovation Center in San Francisco, which focuses on e-retail technology, and Wal-Mart Stores Inc.’s opening earlier this year of its second e-commerce office in Silicon Valley, the area south of San Francisco that has become a hub of Internet and other technology companies.
Target says its new office, in Sunnyvale, CA, will employ up to 70 workers, including “data scientists, software engineers and product managers as part of a commitment to becoming a leading omnichannel retailer.” The office will focus more on data analytics as well as online and mobile engineering, while the San Francisco office focuses more on testing new technologies.
Target is No. 18 in the Internet Retailer Top 500 Guide. Wal-Mart is No. 4. Another Top 500 retailer, Staples Inc., which is No. 3, operates an e-commerce-focused Velocity Lab in Cambridge, MA, to help the office supplies chain develop e-retail and mobile commerce programs, along with a newer but similar office in Seattle that today was hiring for software developers, product managers and analytical experts.
Target recently hired a new CEO, Brian Cornell, who was CEO of PepsiCo Americas Foods. Target has shuffled its executive ranks and brought in new talent following the resignation of CEO Gregg Steinhafel in May. Steinhafel, who’d been Target’s CEO since 2008, resigned in the wake of a massive data breach that exposed payment card details of 40 million store shoppers, slowing store sales and an expansion of Target stores into Canada that underwhelmed.