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Following months of speculations, the WeWork Global entity filed for Chapter 11 bankruptcy in the US, which provides for reorganisation of business and protection against creditors’ demands.
Starlink, a subsidiary of Elon Musks SpaceX, may soon get a licence to operate in the satellite communications space, having apparently satisfied the Indian governments concerns on data storage and transfer. This and more in todays ETtech Top 5.
WeWork owns about 27% in WeWork India, which has been one of the parent company’s fastest growing affiliates outside the US
WeWork India has 50 centres, comprising around 90,000 desks, across seven cities.
CEO Karan Virwani asserted that the Indian business is independent from WeWork Global