It wouldn’t be an El Toro party without bourbon.
Employees at the Louisville company and public officials raised a small glass of Old Forester — Brown-Forman is an El Toro client — to toast the opening of the company’s new headquarters at 124 N. First St.
El Toro, which started in 2003, uses technology to match IP addresses to physical addresses in order to target advertisements at specific groups of people.
The company had a pretty sweet setup in Distillery Commons but needed to move to accommodate its expanding business. El Toro invested $2.1 million in its new headquarters at 124 N. First St. and plans to add 60 jobs to its current 35. The Kentucky Economic Development Finance Authority preliminarily approved $1 million in tax credits to help cover the cost.
El Toro was “birthed on the back of a napkin,” said co-founder David Stadler.
Now, the company works internationally and hopes to work in 20 countries before the end of the year.
The ribbon-cutting celebration hit close to home for Louisville Mayor Greg Fischer, who recalled working out of the building with David Jones Jr., Doug Cobb and David Grissom when it housed a business called bCatalyst Advisors. A few of the company’s logos still remain in the building after El Toro’s redesign.
Fischer said he hoped the space would suit El Toro’s needs for years to come, adding that the company’s rapid growth could see them moving into an even bigger space than the nearly 25,000-square-foot office it just moved into
“We are far beyond proof of concept with this company, so now it’s how big can we get,” he said.
U.S. Rep. John Yarmuth said El Toro is on the cutting edge of what advertising and marketing will be. Yarmuth said he’s even tried to explain the changing advertising landscape to other U.S. politicians who are still concerned about pouring money into television advertisements.
“The model is shifting. The ground is shifting under your feet,” Yarmuth said. “I’m really proud this company is growing and thriving in Louisville.”