On Wednesday evening, Faire, which runs a marketplace where independent retailers can order artisanal goods wholesale, will open a new office in Kitchener, Ont., where it currently has about 75 employees. The firm has more than 200 employees in total, with most of the rest based in San Francisco and Salt Lake City. (The Logic)
Talking point: Faire’s speedy workforce growth—in October 2018, it had a 16-programmer team in Kitchener—has been fuelled by rapid market adoption and several successive fundraising rounds. The firm currently serves over 70,000 retailers and 9,000 makers, and it’s raised US$266 million since its 2017 founding, reaching a US$1-billion valuation last year. While it only opened up to Canadian stores in October 2019, Kitchener-based CTO Marcelo Cortes told The Logic that the majority of the engineering team is based in Canada; product and development staff fly back and forth from San Francisco to work on projects. “This is something we intentionally set up [from] the very first days at Faire,” he said, citing the depth of the Kitchener-Waterloo talent pool.