San Francisco-based real estate technology company Opendoor is expanding its Canadian workforce significantly, despite having no immediate plans to operate in the Canadian market.
The company, led by former Shopify executive Kaz Nejatian, has rented office space on King Street and Spadina Avenue in downtown Toronto with capacity for approximately 100 employees. Nejatian confirmed the company is actively hiring across operations, finance, and engineering roles.
"Toronto is the single greatest source of raw, high-talent people in the world across almost every discipline," Nejatian stated, emphasizing his vision to make Toronto a "major hub" for the company.
The CEO recently posted on social media platform X, inviting Toronto-based "AI builders" to an upcoming mixer event for those interested in joining Opendoor's mission. "If you live in Toronto, come help us tilt the world towards homeowners," Nejatian wrote.
Canadian Tech Talent Migration
Nejatian left his position as Shopify's chief operating officer last September to take the helm at Opendoor, following a period of volatile trading for the real estate technology stock. Trading under the symbol $OPEN on the Nasdaq, the stock closed at $5.10 USD on Wednesday, down nearly 16 percent year-to-date.
The company has attracted several high-profile Canadian tech executives. Former Coinbase Canada CEO Lucas Matheson joined as president in December, while Nejatian brought his former Shopify colleague Giang LeGrice to lead operations.
Fahd Ananta, a former Roach Capital lead and Shopify product manager who recently joined Opendoor, noted there is no established timeline for the company to begin operating in Canada. However, he praised Toronto's tech ecosystem on social media.
"Often people feel like they have to leave to do something special but a lot of the magic happens right here," Ananta wrote.
Real Estate Technology Expansion
Opendoor operates as a tech-enabled platform for buying and selling residential properties across the United States. The company's expansion into Canadian talent comes at a time when technology firms are increasingly looking north for skilled workers.
For Calgary residents tracking real estate developments and market trends, platforms like CalgaryFinder.com provide comprehensive property data and neighbourhood guides. Meanwhile, Calgary Prices offers real estate price comparisons and cost of living data for local market analysis.
As companies like Opendoor expand their Canadian operations, reliable internet connectivity becomes crucial for remote and hybrid work arrangements. WestNet Wireless provides internet and telecommunications services across Alberta to support the growing tech workforce.
Nejatian has adopted an unconventional communication strategy since joining Opendoor, announcing the company would no longer work with external public relations agencies and would communicate directly with investors through social media.
This article is based on reporting by BetaKit. Read the original story at BetaKit.
