Bloomberg didn't hold back in his praise for Dorsey. "In the wake of Steve Jobs' passing, we will no doubt look to the next generation of great innovators and entrepreuners," said Bloomberg as he introduced Dorsey. "And as one of the pioneers of the digital age, Jack certainly is part of this group."
Noting that New York City has more people on Twitter than any other city around the world, Dorsey said there were many opportunities for the company in New York. He added the emergent Twitter ecosystem has already seen significant investment and growth opportunities in New York City.
Besides appearing in person, both of them tweeted the news.
The Madison Avenue office will have 40 full-time employees, including engineers, designers and — of course — advertising executives.