SoftBank's WeWork, once most valuable US startup is bankrupt
In its bankruptcy filing, WeWork listed its estimated assets and liabilities in the range of $10bn to $50bn
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In its bankruptcy filing, WeWork listed its estimated assets and liabilities in the range of $10bn to $50bn
In WeWork India, Bengaluru-based real estate firm Embassy Group has a 73 per cent stake, while WeWork Global has a 27 per cent shareholding
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WeWork India on Tuesday said it operates independently and WeWork Global's bankruptcy filing in the US will not impact its stakeholders in India.
The office space provider operates across seven cities and 50 locations. It claims to have more than 70,000 members and 90,000-plus desks totalling to 6.5 million sq ft. Its member base includes around 80% enterprises with 20% clients coming from SMB, entrepreneurs and the startups segments. “We have seen average prices going up by 10% annually to Rs 20,000 per seat at our centre, with average occupancy of 82%,” said Virwani.