Just recently heard that they IPO’d via SPAC. I thought they flammed out a while ago.
No, its all bogus.
What is their business model?
In short, they provide Co-working spaces…
Good documentary on Hulu about We Work.
Depends what you mean by viable? It’s not viable in the sense the business model doesn’t generate profit… but it is viable in the sense that they will be able to continue attracting investment and buying assets and growing…
Honestly any business that focusing on acquiring any real estate when we are seeing double digit growth year over year… will do fine as long as that continues even if their primary business isn’t profitable.
It’s a good model for some industries. Our company closed its offices and uses it. Works well for us especially in the hybrid work model.
I never understood why it was considered a novel or particularly interesting business idea.
What does your company do?
Is wework like those Regus places? I’ve been in a Regus but never worked out of one. It seemed nice.