We have talked about WeWork on a few occasions in this forum. WeWork operates a handful of coworking office spaces in various cities around the world. There isn’t much to the business but investors continue to fall in love with it. Recently the Wall Street Journal reported that Japanese investment giant SoftBank Group was exploring investing “well over $1 billion” in the company. If Softbank closes on the investment, it will imply a valuation for the entire company of more than $17 billion.
The people at Softbank are supposed to know what they are doing. But for the life of me, I cannot understand what they see in the company. While WeWork spaces impress with enough single origin coffee and flavored water to re-hydrate the thirstiest of techies, we are still talking about “office space.” There is nothing stopping another landlord from designing a similar office. Continue reading “Peelenty of Alternatives to WeWork” →