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There will be no bid for IWG from Brookfield after all.
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Though larger, IWG's valuation isn't nearly as high as WeWork. What gives?
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IWG, a bigger coworking operator than WeWork but far less buzzy, is looking to franchising to quickly and cheaply boost its global profile.
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Long held up as proof for why WeWork's SoftBank-backed valuations were overly ambitious, international coworking operator IWG has gained 60% in value this year.
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As WeWork's approaching IPO draws widespread skepticism, IWG may follow suit with a much smaller valuation but actual profitability to sell investors on.
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IWG has devised a smaller, more separated coworking space platform.
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The move comes as IWG is facing more than $300M in losses this year so far.
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Founder and former CEO of Care.com Sheila Lirio Marcelo has joined as executive chairwoman.
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Mark Dixon says going to an office doesn't necessarily mean workers will be more productive.
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IWG CEO Mark Dixon says that unprecedented demand will make 2022 a year of "strong recovery," but he warns of a down 2021 and doubts WeWork's optimism
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