Online office space marketplace Truss reports that demand for space in WeWork offices is three times greater than that of its nearest rival, and six times more than demand for desks in Regus offices, despite the IWG brand having a bigger footprint according to Truss founder Tom Smith. If its cannot live up to its valuation, it will need to be written down before its public float, which could come as early as September. The company has also been able to attract some high-profile tenants such as Google and Facebook who have both moved into new buildings on the site. However, he said it is hard to see how being better known, having better designed offices, free beer and more chic décor than the competition translates to a value ten times greater than IWG. WeWork claims its builders are a “global physical platform” providing valuable sources of data that is used to power a range of other services and value-added products, which are expected to provide higher margin incremental cash flow.
Online office space marketplace Truss reports that demand for space in WeWork offices is three times greater than that of its nearest rival, and six times more than demand for desks in Regus offices, despite the IWG brand having a bigger footprint according to Truss founder Tom Smith. The company has also been able to attract some high-profile tenants such as Google and Facebook who have both moved into new buildings on the site. However, he said it is hard to see how being better known, having better designed offices, free beer and more chic décor than the competition translates to a value ten times greater than IWG. WeWork claims its builders are a “global physical platform” providing valuable sources of data that is used to power a range of other services and value-added products, which are expected to provide higher margin incremental cash flow.