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.
WeWork and 2U partnership creates a campus for adult education
Ever since WeWork teamed up with 2U, an online education company, more than 1,000 students have enrolled in 2U-managed graduate programs and also take advantage of the coworking firm’s office amenities.
Now, 2U is expanding its partnership to include over 2,000 of its faculty and course administrators from universities such as Yale and Georgetown.
“The whole idea [of 2U] is to unleash school from physical boundaries. But people do want to have community and get together,” said CEO Chip Paucek. “We thought it was a no-brainer to increase the value of what we provide to the students and the faculty.”
The Latest News
Delivered To Your Inbox
2U went public in 2014 after raising $96 million in venture capital and currently runs online degree and certificate programs in business, nursing, social work and other areas.
The company agreed to set aside $5 million for WeWork community member and employee scholarships.
Latest on Daily Digest
America’s malls are becoming more and more vacant, but coworking companies are taking advantage of these empty spaces to expand their services in a nonconventional way.
Flexible workspace provider Knotel has once again expanded its presence in central London, signing three new deals across the city totaling 40,000 square feet.
Office Evolution, the nation’s biggest coworking franchisor, will expand its footprint in Mount Pleasant as it continues to cater to small business owners in the area.
Although coworking spaces are often categorized as servicing major cities, tier II cities are having their moment as many startups continue to flood into these areas.
Amy Nelson, CEO of The Riveter, has made it her business to promote inclusivity of women in professional settings while also providing men tools to value gender equality.
A survey of 1,000 WeWork members found that, while some use the space out of convenience, others find the culture to have an effect on their professional identities.
While WeWork is expected to file for an IPO this year, its valuation and recently announced losses have left investors worried about the sustainability of the company.
IWG has started rolling out a franchise model, similar to that of McDonald’s, enlisting franchisees to take the reins in subleasing Regus and Spaces offices to companies.
Chicago-based Novel Coworking has purchased Denver’s 195,753 square foot, 17-story boutique office property Trinity Place in Uptown that is currently 65% leased.