The Different Ways Tech Startups in San Francisco and New York Spend Money (Infographic)
Silicon Valley tech startups spend more on travel and expenses than their Big Apple counterparts.
That’s according to an analysis of spending habits of 450 New York and California startups in 2015 by Abacus, a New York City-based expense management startup. California startups spend 1.4 times what New York City startups spend on travel and expenses on average, according to Abacus’ analysis.
The one exception is with Uber and Lyft rides. The average Uber expense in New York is $29.34 while the average Uber expense in California is $14.65. And where over a third of New York startup expenses were for local travel, about the same amount of California expenses go towards paying for parking.
But California startups expense more air travel, with West Coast startups booking 27 percent more flights than their New York counterparts. For startups on both coasts, Airbnb is a pretty popular alternative to more traditional hotels.
Have a look at the infographic Abacus generated, embedded below, based on the data it mined from the tech startups that use its expense account management software.
Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.