IWG Shares Drop Sharply As Brookfield Drops $3.7B Bid
There will be no bid for IWG from Brookfield after all.
There will be no bid for IWG from Brookfield after all.
Though larger, IWG's valuation isn't nearly as high as WeWork. What gives?
IWG, a bigger coworking operator than WeWork but far less buzzy, is looking to franchising to quickly and cheaply boost its global profile.
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.
As WeWork's approaching IPO draws widespread skepticism, IWG may follow suit with a much smaller valuation but actual profitability to sell investors on.
IWG has devised a smaller, more separated coworking space platform.
The move comes as IWG is facing more than $300M in losses this year so far.
Founder and former CEO of Care.com Sheila Lirio Marcelo has joined as executive chairwoman.
Mark Dixon says going to an office doesn't necessarily mean workers will be more productive.
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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