Major office space provider IWG has started adopting the franchisor model, pioneered by fast-food company McDonald’s, in its effort to edge further away from WeWork.
SquareFoot announces PivotDesk acquisition
Commercial real estate technology company SquareFoot has announced its acquisition of PivotDesk, a flexible office space marketplace which will operate as a subsidiary of SquareFoot.
SquareFoot was founded in 2012 and combines proprietary technology and a brokerage team that modernizes the leasing process.
The company has since closed over 600 transactions, as well as doubling its transaction count and revenue in 2018.
“As we began to look for ways to further establish ourselves as the one-stop shop for all small- and medium-business office space needs, the opportunity to pair PivotDesk’s flexible, space-sharing marketplace with the technology, marketing, and brokerage expertise we have at SquareFoot was an ideal one,” said Jonathan Wasserstrum, SquareFoot Co-Founder and CEO.
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