And one more thing — when the alleged bubble bursts, and all those startups on short-term WeWork memberships go bust, WeWork will be saddled with long-term leases and forced to give away whatever premium it had hoped to charge. That, critics argue, isn’t anything close to a $10 billion company.
But it turns out this is not the case, a WeWork spokesperson tells us. Only a tiny fraction of WeWork clients are other tech startups:
Venture capital backed companies only make up mid-single digit of total population of our WeWork member companies. The membership is very diversified across multiple industries and our fastest growing segment is larger, more mature companies who have joined for the value proposition of more affordable space, community, network, and flexibility — as well as services (healthcare, payment processing, etc.).
This is interesting news, because we now know that WeWork is not dependent on tech VC funding. And the WSJ said the company was profitable, which also bodes well.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — Transforming Today’s Bad Jobs into Tomorrow’s Good Jobs
Wearables — Snap a picture
Electronics — To Y5V or not to Y5V?
Biohacking — Ticks are Spreading an Allergy to Meat
No comments yet.
Sorry, the comment form is closed at this time.