One of the most highly-valued startups in the world just announced a "major expansion of its presence into Canada," joining the likes of Google, Amazon, Netflix, Reddit, TikTok, DoorDash, Uber, Pinterest,Wayfair and dozens of other tech giants in opening a downtown Toronto office.
Stripe announced on Tuesday that it expects to sign a lease for office space in downtown Toronto sometime over the next few months, though a location has yet to be revealed.
The goal is totap into the city's vast pool of local engineering, product and sales talent, as well as to bring more services to its Canadian customers, of which there are many.
"Since Stripe first began operations in Canada in 2012, Canadian businesses have processed billions of dollars through the platform from industry leaders likeShopify,Lightspeed,Jobber, andClearcoto fast-growing SMBs likeCanadian BBQ Boys,Cabinscape, andSuper Soils," readsa release from the brand, which already boasts more than 4,000 employees across 11 global offices.
"Stripe is hiring for roles in engineering, product, and sales in Toronto. This team complements Stripe's increasingly distributed engineering workforce includingin Dublinand itsLondon fintech office."
While not as much of a household name as startups-turned-tech giantslike Uber or TikTok, Stripe is an incredibly fast-growing company withbacking from the likes of heavyweight venture capitalists including Elon Musk and Peter Thiel.
The platform, which has dual headquarters in San Francisco and Dublin, describes itself as a "technology company that builds economic infrastructure for the internet," effectively makespayment processing software for e-commerce.
It is currently used in over 120 countries by millions of companies including Amazon, Google, Slack, Microsoft, Uber, Lyft, Spotify, Nasdaq, Expedia and Zillow, according to Stripe's website.
Long story short, this companyis abig deal one that investors believe will only get bigger as time goes on. Anew Toronto officeis part of that growth story.
"I want to thank Stripe for choosing to locate its first Canadian office in Toronto and joining our city's thriving tech community," said the city's mayor, John Tory, in a news release on Tuesday.
"We have a tremendous success story in Toronto when it comes to our tech sector and now Stripe is a valued part of that ongoing success. We have worked hard throughout the pandemic to support people and businesses and make sure that our entire city comes back stronger than ever. Today's great news from Stripe is a further sign of confidence in Toronto's future."
Stripe is already hiring for some engineering roles in Toronto, but says itwill "continue to recruit for roles" as it expands its team locally and unveils more products for Canadian businesses.
In addition to announcing its forthcoming digs in downtown Toronto, Stripe also announced this morning that it had launched four new products in Canada including something called"Stripe Tax" andPre-Authorized Debits.
"Our government is thrilled that Stripe has chosen to expand into Ontario for its first Canadian office, and we want to congratulate them on this milestone," said Ontario's MinisterEconomic Development, Job Creation and Trade, Vic Fedeli, on Tuesday.
"Ontario is home to the world's most talented workforce, strong post-secondary institutions, the brightest entrepreneurs, and a vibrant innovation and tech ecosystem. We look forward to Stripe's collaboration with homegrown talent as they continue their growth in Ontario."
Continued here:
Another global tech giant is opening an office in Toronto and they're hiring - blogTO
