In The Loop: Competition Heats Up In NYC Between Regus’ Spaces, WeWork, And Knotel

WeWork Hits $20 Billion Valuation

The coworking giant, WeWork, raised $760 million in a recent Series G funding round, which, consequently (or so it is rumored) puts the company at a valuation of $20 billion. Forbes reported that the latest funding “will fuel further expansion into new territories.” And there’s good reason to believe Asia will be a top priority.

Regus To Launch Spaces In Manhattan

The Real Deal reported earlier this week “Regus plans to launch its coworking concept Spaces in Manhattan”. According to the article, the coworking location will open at Helmsley Building and it’ll cover 55,000 square-feet.

Oh, before we forget, this is a lease renewal–but instead of keeping its serviced offices, Regus has decided to repurpose the space.

Knotel To Triple Its Presence In NYC

Knotel is taking a stab at WeWork. Or so Bloomberg reported this week. “Knotel Inc. is planning to more than triple its office space in New York by the end of the year in an effort to approach the omnipresence of WeWork Cos.”, the article reads. We can’t say we’re much too surprised, as Knotel told Allwork in April this year “we’re growing faster every month; inbound demand is 25x higher than it was last January.”

Read the full Bloomberg story here.