Tech Giants Expanding in Waterloo
CBJ – Already known as one of the major technology hubs in Canada, the Region of Waterloo is getting two more tech giants who will be expanding their presence in the area with both Google and Shopify announcing plans of greater things to come.
Canada’s newest tech darling Shopify, which went public this year and is valued at $2.75 billion, will soon announce a major expansion in the region. The e-commerce facilitator has just leased space in Waterloo that would let it boost its presence from about 20 people to potentially a few hundred.
Shopify, which has roughly 800 employees spread across its home base in Ottawa and satellite offices in Toronto, Montreal and the adjoining cities of Kitchener-Waterloo, saw its shares jump 23% last week after an announced cooperative with Amazon.com.
Google gets set to move into a new 185,000-square-foot space in Kitchener this fall. The office, some three times the size of its current space, will allow Google to vastly expand its 300-person workforce in the region.
Meanwhile Blackberry, which has always been viewed as the anchor tech company in Waterloo, has been drastically cutting back on staff with another 200 layoffs last week from its hardware and design teams as it focused more attention on software development, while preferring to outsource more on the hardware side.