Can WeWork make a comeback?
Despite difficult circumstances, perhaps we shouldn’t count out the commercial real estate company just yet
By now, you might be aware of WeWork’s failed IPO attempt and the difficult situation the once celebrated company is facing.
Despite a massive, last minute bailout from SoftBank (its largest investor), the company is cash-strapped; several reports even indicating an upcoming layoff of roughly 4000 jobs (almost 27% of its total headcount).
So where does WeWork go from here? Does the former unicorn darling even stand a change of surviving another year? Perhaps… but it may require sacrifice and a renewed vision.
Back to reality: Market yourself as a real-estate company
As of late 2019, I think most people realize WeWork is (really) a real-estate company. The tech startup “disguise” can longer continue, which was partly causing the exaggerated $47 billion valuation.
In spite of this, WeWork provides a valuable service to many companies and individuals around the world: a convenient meeting point for anything related to technology startups.
After all, IWG plc (the parent company of Regus) has been profitable as of late, generating…
