Large enterprise companies, such as Microsoft, Salesforce and Pinterest, tend to be attracted to WeWork.
It was recently reported that coworking space WeWork just scored $500 million in a recent round of funding. That should not come as a surprise to anyone. WeWork is king in the world of coworking space providers— they hit over 120,000 members back in June.
As my colleague Andrew Zangre wrote, “Many traditional companies are either transforming their operations with cues from the industry or slowly trickling into shared offices to take advantage of all there is to offer and cut down on costs.”
WeWork is capitalizing on this demand by skewing their spaces to the strong demand for private offices. Some of their 200 spaces, which span across 13 countries, provide office solutions for as many as 100 employees.
Large enterprise companies, such as Microsoft, Salesforce and Pinterest, tend to be attracted to WeWork. Zangre talked to WeWork representative Hillary Klein, and she told him that enterprise companies have become their fastest-growing member segment.
“We are increasingly working with established companies who want to offer their current employees new options, want to appeal to new talent or see new space as one method to help teams develop new ideas,” said Klein.
A Different Sum
It’s no surprise that WeWork is exploding right now. A group of us here at G2 Crowd decided to see if the coworking trend lives up to the hype and recently went on some coworking field trips of our own. While we all preferred the familiarity of the office and coworkers we’ve come to know, I think it’s safe to say that we all understood and appreciated the appeal of coworking. And WeWork is the name on everyone’s lips when it comes to coworking.
What is more interesting here is that the coworking giant is spending $500 million, a sum they claim is different from the one earned in funding, on opening up a space in Japan as a joint venture with Softbank.
As reported in VentureBeat, “The new JV, which will be known as ‘WeWork Japan,’ will be 50 percent-owned by each company and will enable the New York-based tech firm to gain a solid foothold in a potentially sizeable and lucrative market.”
Getting on the Map
Japan likely will not be the last stop on WeWork’s world tour. The workplace is changing, and coworking has been on the rise for a while now. As Zangre pointed out, many organizations are quickly realizing the benefits to this new style of working. Area Development offers even more benefits, such as “meet-ups, networking, 24/7 access and a knowledge-sharing spirit of collaboration compared to traditional workplaces.”
Not all of you reading this article right now will have a WeWork facility in your city. But there are coworking spaces to choose from and G2 Crowd can help you find them.
We have recently dived into the world of B2B services and coworking service providers are an up-and-coming service category. Our newest feature allows you to filter coworking spaces by location. Now you can check out which spaces are available in your city and read and leave user reviews. If coworking is changing the way people are working, G2 Crowd will change the way you find your coworking space of choice.