Do tech startup businesses spend the same coast to coast? Or is it apples to oranges?
The two coasts are often compared in the startup scene by the amount of funding they have. But what about the way they spend their funding to conduct business? We took a deep dive into employee expenses and other business costs to compare.
Amazon dominated T&E spend with 8.3% total across both coasts
46.2%
27.0%
Percent of dollars spent on local travel
38.4%
30.8%
Based on total flights booked.
However, NY booked 7x more Amtrak tickets.
$29.34
$14.65
$28.62
$13.42
Taxis accounted for 37% of local travel in NY,
while parking was 35% of CA’s.
NY
7.4%
CA
8.1%
Based on total number of expenses.
However, NY booked 7x more Amtrak tickets.
Airbnb was a consistent favorite for overnight stays based on number of rooms booked.
Percent of total expensed cellular plans
Percent of total dollars for shipments
New York:
California:
Percent of total dollars for supply purchases
NY
40.0%
CA
57.0%NY
40.0%
CA
57.0%W.B. Mason 15.0%
Home Depot 5.0%
Other 13.0%
Staples 3.0%
Home Depot 5.0%
Office Depot 13.0%
NY relies on 2.5x the amount of vendors for supplies than CA does.
NY spent 1.2x the amont of money on advertising platforms as CA
New York:
California:
Twitter:0%
Other big ticket items for conducting business include salaries and rent.
NY
92k
SF
103k
NY
$6.16
SF
$5.43
NY
14.8K
SF
13K
The CA tech scene has more venture capital than NY, so it's not surprising to see them spending more.
as of 2016
($B)
as of 2016
($B)
Unicorns are private companies valued at $1B+
New York's tech scene is undoubtedly growing. Keep your eyes peeled on these brands for future unicorns
750M
700M
605M
500M
500M
865M
700M
575M
500M
500M
Emerging unicorns are private companies valued between $500M - $1B
Travel and Expense data based on an analysis of a subset of 450 companies that use the Abacus expense management platform headquartered in the greater New York and California areas.
