The investment is intended for Mindspace’s continued growth and expansion in Europe, the United States, and Israel.
The company announced that it will assist a minority-owned business with a $5,000 grant and annual coworking membership.
The report revealed that the coworking giant is not only racking up big losses, but that the now-public company is “hemorrhaging cash.”
This statistic signals several different conclusions about the future of meeting room demand in a post-pandemic office environment.
The new 2,000sqm flexible workspace at 89 Pirie Street officially opened its doors to approximately 350 members.
At day’s end last Thursday, WeWork shares closed 13.5% higher at $11.78 under the ticker “WE” on the New York Stock Exchange.
Slated to open in January 2022, the CGIS would be the first coworking space in Johor to be operated by Common Ground.
As coworking continues to be a great solution for remote workers, flexible office operators such as Regus sand WeWork are expanding into malls across the world.
DevX will expand in India with a new coworking center in Pune. The company hopes to establish a pan-India presence by the end of 2021.
Last week, WeWork announced it will move forward with its planned IPO and will begin trading on Oct. 21 on the New York Stock Exchange.