Tag Archives: rent

WeWork, coworking startup, to open 20 more Toronto locations

20 more – no that is not a typo. Even though the company only has 3 locations now in Toronto. This is mainly due to Toronto’s rapid growth as tech sector and attractive place to do business for startups.

Dave McLaughlin, general manager for the Northeast at WeWork said:

“The bottom line is, we don’t see any limit to demand. We’re definitely setting our sights high for the city and we think it is an amazing ecosystem for business.”

WeWork claims 98% occupancy rate at 2 of their 3 locations.

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McLaughlin said the success is part due to very cool Drake designs at their offices, beer kegs, and easy to use app that connects tenants (people who rent their office space) with their office spaces.

“Part of what we sell, and part of what’s so inspiring for people is the sense that they like coming in to work. That’s hard to capture, but it’s real and it’s essential to what we do and why people love what we do.”

Toronto IT salaries are 11% more than San Francisco when adjusted for cost of living, Hired reports

Update: Article below is based on #s from 2016, please see an updated article based on 2017 report numbers – Toronto Tech Salaries Grew 7% Last Year, But Still Fall Way Behind the US salaries.


A new study from Hired, employment website for IT, says that even though San Francisco salaries are double than some other cities in the US or Canada, it is lower when you consider the cost of living. This report is similar to another one posted recently by Savills Real estate firm.

The study was conducted with over 280,000 engineer profiles. San Francisco salary clocked in at average of $134,000 USD and was trailed by Seattle at $128,000 and New York City at $120,000. Average salary in Toronto was $74,000 USD (or $97,000 Canadian).

The higher salaries do not mean much though when you have to consider the cost of rent and / or buying a house or condo. When you take that (how much more you get for your dollar) into consideration cities like Toronto are coming in at $149,000 and Boston at $156,000 and are better value than San Francisco. The best city for your dollar? Austin , Texas where you will get almost $200,000 when adjusted for cost of living. The worst in North America? New York and San Francisco at $133,000 and $134,000. Cities in Europe and Asia did not do too well even after adjustment. London and Paris came in at $104,000 and $98,000 respectively.

Tech Candidates Salaries adjusted for cost of living
European Cities adjusted for cost of living

Hired also mentioned that “huge # ” of candidates are attracted to cities in Texas for example and 60% of them are out of state, due to the low cost of living.

Diversity

Diced also discovered that Black, Latinos and Asian candidates receive lower pay when compared to their White peers with exactly the same skills.

Average pay for white was $125k, Black $115k, Latinos $120k, and Asian $122.5k.

Report said:

The average white candidate on our platform, for software engineering roles in New York and San Francisco, asks for a preferred salary of $126K and ultimately receives an average offer of $125K. While African-American candidates are much more likely to get hired, they are also asking for and receiving a significantly lower salary ($113K and $115K, respectively). Latino and Asian candidates ask for and ultimately receive salaries that are more on par with white candidates, but their hire rate is also negatively impacted.

It’s unclear if African American candidates are receiving more offers because they are more qualified, their preferred salaries are lower, because of diversity initiatives, or a combination of those and other factors.

 

You can read the report here: https://techcrunch.com/2017/02/09/what-software-engineers-are-making-around-the-world-right-now/

 

Montreal Breather is AirBnb for office space, raises $73m to date

Breather’s aim is to connect the world’s spaces into a network and make them globally accessible via software. Through software, networks, and vision and with a focus on customer experience and design, Breather allows everyone to access space that suits them, anywhere in the world.

Breather aims to be a reliable solution in people’s work lives, with seamless service, conveniently located spaces, and a high standard for our user experience. Ease of use is central to what Breather offers. The spaces are consistently inspiring and beautiful, well designed and thought out. Breather’s multi-functional designs speak to a diverse community of professionals, helping individuals and groups work however they are most comfortable and productive: around a big table, brainstorming in the lounge or writing out strategy soon the whiteboard.

Breather launched in Montreal before expanding to New York City. As of November 2016, Breather is available in 10 cities, adding the San Francisco Bay Area, Boston, Los Angeles, Chicago, Washington, D.C., London, Toronto, and Ottawa to the original two.

See video below of How to work better, by design. What kind of space makes a person feel inspired, creative and professional all at the same time? What are the types of environments that foster connection and allow for brainstorms and collaboration? Breather’s designers and researchers have studied how people work today. Breather is interested in the relationship between people and space, and what it means to create workspaces that promote productivity and collaboration.

 

 

Who started the company? Do you / team members have tech background?
Founded in 2012, by Julien Smith, CEO, and Caterina Rizzi, CCO, Breather connects people to the world’s spaces by making them accessible via their proprietary app. Each space in Breather’s 300+ global network is specially curated to be peaceful and practical and can be booked for any length of time. Located in 10 major cities across North America and the UK.

How are you being financed?
Recently in December 2016, Breather, raised a Series C round of $40 million. The funding brings Breather’s total capital raised to $73 million. Menlo Ventures led the round joined by Valar Ventures, RRE Ventures, Slow Ventures and Real Ventures.

 

 

Who is your biggest competition?
We feel that Breather doesn’t really have a direct competitor, as what we do by offering private on-demand spaces, currently does not exist in this manner. However, if we were to identify the competition, it would be companies like Peerspace, Liquidspace, Sharedesk and apps from traditional office rental businesses like Regus that now allow booking of rooms via mobile.

How are you intending on taking your company to million dollars in
revenues? In what markets?
Founded in 2012, Breather operates approximately 300 spaces across 10 markets, including in Chicago, New York, San Francisco, Washington D.C., and outside of the U.S. in Toronto and London.

Breather intends to use its Series C capital for hiring, and geographic expansion, including further saturation where it already offers workspaces, and new cities as yet to be determined.