In The Loop: WeWork, Convene, And The Limits Of Coworking

Recent pushback from key investors of SoftBank Group could prevent WeWork from getting an additional $16 billion from the Japanese conglomerate.

WeWork Receives Pushback from SoftBank Investors
Key investors in SoftBank Group have questioned the Japanese conglomerate’s intention to take a majority stake in WeWork. According to reports, Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala Investment Co. are skeptical about WeWork’s valuation and its ability to survive an economic downturn. The pushback could prevent WeWork from receiving an additional $16 billion from SoftBank.

Convene’s Director of Real Estate Talks Growth Plans
In a Q&A with Bisnow, Peter Sellick, Convene’s new director of real estate for the West region talked about growing Convene’s presence on the West Coast. We can expect the flexible workspace company to grow in Century City, Santa Monica, Brentwood, West Hollywood, Orange County, San Diego, and San Francisco, as well as Seattle.

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The Limits of Coworking
TechCrunch recently argued in an article that there are some limits to coworking, citing “concerns around the scalability of demand”, especially given the fact that people can work for free or almost for free from coffee shops or from home. This applies to both high-density and low-density cities.

 

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