Knotel and Industrious' paths diverge, why Opendoor is raising $770M
Why rental arbitrage doesn’t work: Knotel vs. Industrious Knotel, once gleeful over WeWork’s downfall, succumbed to the pressure of rental arbitrage last week by (finally) filing for bankruptcy. In recent months, the startup led by CEO Amol Sarva faced mounting lawsuits alleging it stopped paying rent. In a Chapter 11 filing, the flex-office provider listed assets and liabilities between $1 billion to $10 billion. The bankruptcy filing includes $20 million in financing to aid with Knotel’s sale to Newmark Group — a deal that implies there’s a future for flex-office, just not as Knot...