Monday 20 August 2018

Paddy Cosgrave rolls out new measure for Web Summit employees in Dublin struggling with housing costs

Web Summit's co-founder Paddy Cosgrave Photo: Reuters
Web Summit's co-founder Paddy Cosgrave Photo: Reuters
Louise Kelly

Louise Kelly

The Web Summit is creating 50 new jobs across its offices globally, as it continues to expand internationally with the opening of an office in Toronto.

CEO Paddy Cosgrave also announced the launch of a new measure for employees aimed at tackling the effects of the housing crisis in Ireland.

The initiative has been put in place to support those renting or with mortgages within 2km of the company’s Dartry headquarters.

"Web Summit employees are struggling to find accommodation in Dublin, so much so house and rental prices are a significant factor in hiring conversations," said Cosgrave.

"This is a small measure to help address the problem. But if we have this issue as we rapidly grow the business, imagine what it is like for thousands of other companies."

Meanwhile, Cosgrave's MoneyConf is expected to pull in close to 5,000 attendees over the three-day event in Dublin.

According to the Web Summit co-founder, the fintech conference has grown almost three times the size of last year's event.

MoneyConf 2018 attracted 1,868 attendees, while there are currently 4,903 registered attendees for next month's conference at the RDS.

"We expect MoneyConf in Dublin will have over 5,000 registered attendees. It’s great to be back," Cosgrave said.

"We said we wanted to move MoneyConf to grow the event and now I can tell you that is what we have achieved.

"MoneyConf is the fastest-growing fintech event in Europe. I am very proud to run this event in Web Summit’s home city."

The line-up of speakers over June 11-13 include the Irish Collison brothers behind Stripe, and representatives from Transferwise, Revolut PolicyBazaar, Credit Karma, Klarna, Avant and Kabbage.

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