WeWork is expanding an effort to retain mid-sized businesses which had been leav...
NEW YORK - WeWork is expanding an effort to retain mid-sized businesses which had been leaving the shared office space manager after they grew past the small-company phase, and to catch up with rivals already catering to these clients.
The $42 billion New York-based “unicorn” in 2010 helped pioneer “coworking,” or shared desk-space, with a focus on startups, entrepreneurs and freelancers. WeWork has been losing clients as they grew to more than a dozen or so employees and found that sharing office space no longer suited their needs.
“That’s our ultimate dream, that companies stay with us for life. From being a single-person start-up to the day that they’re Airbnb,” WeWork’s Fano said. Minimum leases for HQ by WeWork are two years and companies gain Wi-Fi, IT and audiovisual systems, along with access to WeWork’s global network of shared space and conference rooms.
About 13 percent of HQ by WeWork members are previous clients. WeWork was unable to say how many potential HQ clients had left its operations.
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