Wework

Wework starts new coworking centre in Pune with 1,500 seating capacity

Coworking major WeWork India has started a new centre in Pune with 1,500 desks and 96,000 square feet area amid rising demand for flexible office space from corporates. The new facility is located at Raheja Woods IT Tower developed by K Raheja Corp. "This is an asset-light deal, and the company has leased the entire building comprising five floors in this Kalyani Nagar property, spread across a deskspace of 1,500," WeWork said in a statement. This is the company's third facility in Pune. Arnav S Gusain, Chief Supply Officer, WeWork India, said, "Pune has offered quality real estate over the years, leading to its emergence as one of the strongest and ideal cities for companies to set up their offices. Spaces such as WeWork India allow companies to plug-and-play within their budget instead of wrestling with office layouts and fit-outs". The company would continue expanding its footprint further, he added. WeWork India has a portfolio of over 6.5 million square feet area across 44 .

WeWork to cut 300 jobs globally as inflation weighs on workspace spending

The company said on Thursday it expects to report fourth-quarter revenue and adjusted EBITDA above its earlier expectations

Co-working major WeWork India raises Rs 550 crore from BPEA Credit

Co-working major WeWork India on Monday said it has raised Rs 550 crore from funds managed by BPEA Credit for future growth and acquisition opportunities as it seeks to tap rising demand for flexible spaces. In 2017, WeWork Global had partnered with Bengaluru-based real estate firm Embassy Group to enter the Indian market. At present, WeWork India has a portfolio of around 70,000 desks spread over 6 million square feet area in 41 centres across six cities -- Bengaluru, Mumbai, Gurugram, Noida, Hyderabad, and Pune. The amount will be used for future growth and potential consolidation opportunities, WeWork India said. In 2020, WeWork India raised Rs 750 crore from WeWork Global, which the company said played an instrumental role in stabilising the business during the pandemic. WeWork Global has around 27 per cent stake in WeWork India. "Flexibility is paramount in today's workforce and the investment by BPEA Credit stands testament to the massive growth opportunity for flex workspac

Unicorn status to WeWork co-founder's real estate startup 'Flow' pre-launch

WeWork co-founder and former CEO Adam Neumann receives $350 million funding from top investment fund Andreessen Horowitz (a16z) for his upcoming business named Flow

WeWork founder Neumann's new startup gets backing from Andreessen Horowitz

The investment in Flow, a residential real estate company led by Neumann, is roughly $350 million, according to the New York Times

WeWork goes public through SPAC, 2 years after failed IPO attempt

The office-leasing company scrapped plans for an IPO in 2019 after investors' concerns over its business model and corporate governance and its founder and former CEO Adam Neumann

WeWork India bolsters leadership team as country reopens

Curated shared workspace provider WeWork India on Monday announced key strategic appointments to the leadership team in the country

It's time for SoftBank Group to stop buying and start selling

Net income at the Japanese company dropped 39% for the June quarter, while profit at its eponymous investment unit plunged almost 90% amid a decline in the share prices of key holdings

WeWork reports quarterly loss of nearly $2.1 bn ahead of public listing

WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition company, in a deal that valued it at $9 billion

SoftBank-backed WeWork to begin accepting payments in cryptocurrencies

The firm will partner with Coinbase Global Inc and payment app Bitpay to facilitate transactions

WeWork India raises Rs 200 cr to grow biz, become profitable in 2021

Coworking major WeWork India on Monday said it has raised Rs 200 crore from investors as equity and debt

WeWork to go public in $9B merger with Vivek Ranadive-led BowX

WeWork has now entered into an agreement with BowX Acquisition Corp., providing for a business combination that will result in the co-sharing workspace company becoming a publicly listed company

WeWork takes SPAC route to go public in $9 bn deal with BowX Acquisition

Current shareholders will own about 83% of the combined company, WeWork said

WeWork discloses $3.2 billion loss in 2020 as it seeks SPAC deal: Report

WeWork lost $3.2 billion last year, according to documents shown to prospective investors by the office-sharing startup as apart of a pitch for $1 billion in investment and a stock market listing

SoftBank reaches settlement with ex-WeWork CEO Neumann, ends legal battle

SoftBank Group has reached a settlement with WeWork's special committee and the company's co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019

WeWork co-founder Adam Neumann nears settlement with SoftBank: Report

The settlement would put to rest a prolonged legal battle between Neumann and Softbank, which dates back to 2019 when WeWork's IPO plans fell apart

WeWork plans new route for comeback in public markets: Report

The firm had a failed IPO attempt in 2019

WeWork in talks to go public through a merger with SPAC, says report

A source directly familiar with the matter said that WeWork had held talks with at least three blank-check firms over the past two months, cautioning that current talks could fall apart.

WeWork losses mount but 'seismic shift' in office use seen helping recovery

WeWork's revenue declined in the third quarter but its cash burn slowed, a company memo showed, with management confident it can weather the hit to the office sector from Covid-19

WeWork eyes traditional companies, MNCs to hit profitability by 2021-end

Although the company is seeing demand gradually return to pre-Covid levels, it will still take up to the middle of next year for the demand to return to 65 per cent of pre-Covid occupancy levels