As far as Toronto is concerned, nobody grows to the size of a multi-national juggernaut. Everyone takes the buyout/merger/acquisition way before that ever happens. It's often been said, what major multi-national corporation has their headquarters here? Reuters is the only one and they are technically headquartered in New York now.

The companies that get that far will typically come out of other places where they aren't stifled by the conservative VCs/angels eager for an exit like they are in Toronto.