Deals
WeWork’s Looming IPO Will Also Prove Decisive for Slew of Rivals
- All eyes are on co-working giant’s offering as a benchmark
- Startups, brokers, landlords are providing flexible offices
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WeWork Cos. took the real estate world by storm on its way to an initial public offering that’s set to be among the year’s biggest. It’s not the only co-working firm that’s primed for new heights.
More and more companies are vying to meet global demand for hip, furnished offices without the commitment of a long-term lease. Some, such as IWG Plc’s Regus, preceded WeWork. Others followed in the footsteps of the powerhouse that’s raised more than $12 billion and opened locations in more than 100 cites. For many firms in the sector, the IPO, planned for next month with a target of $3.5 billion, proves co-working is here to stay.