By now, we are all aware of the WeWork story. We know how the company grew to become synonymous with coworking spaces thanks to its lavish network of offices around the world. How these offices were once packed with young techies playing pool and sipping beer. And how, eventually, it all came crashing down. The company, once valued at 47 billion dollars, was brought to its knees.
But here in India, the WeWork story has been playing out drastically differently. The workspace provider’s India business is thriving. In fact, it is currently prepping for an IPO.
It has managed to get to this point only because it is everything that its global sibling is not. More importantly, it realised somewhere down the line that it’s better to ditch the frills and be a boring office space provider for all sorts of clients, not just the startup crowd. The pivot is now towards managed office spaces.
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