WeWork’s rent just went waaay up
WeWork is currently… the second-largest renter in Manhattan only to JPMorgan. However, the company is looking to take on another 200,000 square feet and surpass the banking giant very soon. Not too shabby for a company that is just eight-years-old, right?
What do they do, exactly… well, WeWork offers tiered pricing for co-working spaces and can cost over $1,000 per month. A co-working space typically involves a shared workplace; but those co-working are not usually part of the same organization (i.e., single employees rent work space). Members can rent desks or entire offices. So you can see why the company needs the extra office space.
WeWork is valued at… around $20 billion and the company is looking to raise money that would value the company as high as $35 billion. WeWork is also expanding this idea with shared spaces for education (WeGrow), health and fitness (WeRise), and co-living (WeLive). All this after just eight years – you could say that WeImpressed…