WeWork is expanding its offerings to maintain their mid-sized business clientele, which has recently been leaving the company as they have outgrown its services.
“Those companies were within the platform, but we weren’t going out of our way to serve them,” said David Fano, chief growth officer at WeWork. “Some of the companies were saying, ‘Look, we really just want our own space.’”
HQ by WeWork offers enhanced services for businesses from 11 to 250 employees throughout San Francisco and New York. Now, the sector is targeting Boston and Denver as well as overseas markets like London and Shanghai.
The service hopes to fill the gap between WeWork’s typical coworking platform and its offerings for large companies with over 1,000 employees.
Minimum leases for HQ by WeWork offers companies Wi-Fi, IT systems, and access to WeWork’s global network of shared spaces.
The service paves the path for WeWork to directly compete with landlords by not taking incremental space from their buildings.
The HQ segment is expected to account for about 70,000 of the company’s overall membership base.