Facebook is snubbing the so-called sillicon roundabout - home of start-ups around the Shoreditch area - to move into Covent Garden instead.
It will put Facebook in tube-taking distance to the East London Tech City, proposed by the government to be a bustling hub of start-ups and established tech powerhouses. Facebook has committed to a developer garage for the project.
But anyone who has taken the tube from the crowded Covent Garden in the evening would probably know it's worth giving a miss.
Covent Garden's 42 Earlham Street office building was packed full of 600 Expedia employees who will now set up shop in Angel, Islington. It's a fair bit closer to Old Street.
42 Earlham Street will become Facebook's UK headquarters.
One start-up based in the Google-backed TechHub told us: "They're obviously too rich."
Regarding the rumour, TechHub founder Elizabeth Varley said: "While we would love to see them next door, we can see why Covent Garden make sense for Facebook as the West End's a hub of advertising companies, which is a focus for them."
The alleged move follows whisperings that Twitter plans to settle its European headquarters in London.