WASHINGTON — The Motley Fool — the multimedia financial and investing advice company founded in Alexandria, Virginia in 1993 — will keep its headquarters in Alexandria, expand its operations and add to its payroll in exchange for state incentives.
The Motley Fool has about 280 people working at its Duke Street headquarters. The company plans to invest $5 million to upgrade its headquarters and expand hiring, and has committed to adding 60 new jobs.
Virginia Gov. Terry McAuliffe approved a $350,000 grant from the Commonwealth’s Opportunity Fund. The company also is eligible for up to $60,000 in funding and services from the Virginia Jobs Investment Program for employee training.
Since its founding by brothers Tom and David Gardner 23 years ago, The Motley Fool has grown from a single website offering investment tips to small, individual investors, to a multimedia company that includes podcasts and publishing, its own mutual funds and paid investment services.
It has grown from its U.S. base in Alexandria to operations in Australia, Canada, Germany, Singapore and the U.K.
“Since our humble beginnings in a backyard shed on South Fairfax Street, The Motley Fool has called Alexandria home,” said Tom Gardner. “Even as we continue to expand globally, we remain true to our local roots and are proud to be a part of the Alexandria community.”
