Co-working spaces have been popping up everywhere over the last few years as long commutes and working alone at home can grow tiresome.
One reason investors were wary about buying into WeWork at an elevated valuation is the losses the company is making: $690M in the first half of 2019 and close to $3B in the past three years.
Company’s rental-apartment venture struggles to make money, while other side businesses have fizzled.
We Co. likely to scrap roadshow planned for this week amid investor doubts about the company’s valuation and concerns about corporate governance.
Offices iQ, the broker of flexible office and coworking space, has announced the launch of Enterprise iQ, a global end-to-end service that includes ongoing customer support.
Since the We Company released their S-1 investor prospectus, Wall Street pundits and the financial press have had a field day tearing the company apart.
A new report from CBRE predicts that the market for U.S. coworking space will continue to expand robustly over next decade, despite any coming recessions.
Coworking spaces rarely generate a profit when they lose virtually no members or a relatively high share of members each month.
If you’ve ever shopped around for a coworking space, you’ve undoubtedly heard every shared workspace operator brag that its offices aren’t just a place to work – they’re all about community and culture
The troubles for We Company and its main business WeWork are mounting as the Financial Times is reporting that the company’s main backer, Softbank, is pushing for the company to put its troubled public offering on hold.
It’s a remarkable comedown for WeWork, the signature grandiose-dreaming, money-chewing startup of these financial times.
“I’ve heard no bullish views at all,” said Rett Wallace, chief executive of Triton Research, which analyzes pre-IPO companies for investors. “There were Uber bulls, there were Lyft bulls, there were Snap bulls.” He added that “WeWork is exhausting people’s cynicism.”
WeWork, the leader in the globalization of coworking, revealed in the prospectus that it lost nearly $700M in the first half of 2019, and said it will likely lose more money “in the foreseeable future.”
Against a global backdrop of diminishing business confidence and a weaker outlook for economic growth, a robust labour market in the world’s largest economies continues to underpin demand for office space with high employment levels prevalent across a number of major markets. Demand continues to be driven by the knowledge economy, with the coworking boom continuing to broaden its reach across major markets.
WeWork, now known as The We Company, announced this morning the acquisition of a rival co-working business, Spacious.
Digitally native brands like Outer and Burrow are exploring alternative ways to give consumers the opportunity to see their products in real life.
Knotel has now completed a $400 million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait.
Like WeWork, IWG operates furnished, serviced offices around the globe that it rents out to companies and individuals under short-term deals and is best known for its Regus brand.
The combination of opportunity zones and shared office space is creating incubators of start-ups and investors in underserved markets.