Shortly after WeWork CEO and co-Founder Adam Neumann cashed out over $700 million from the We Company, news got out that the company aims to go public in September, sooner than expected. According to a report by the Wall Street Journal, “WeWork, which filed its IPO paperwork confidentially late last year, is expected to publicly disclose it in August, setting up the company for a stock-market debut the following month.” The WSJ also learned that the company is seeking to raise up to $6 billion from a loan in order to lessen the amount it needs to raise in the IPO.
Betakit reported this week that New York-based flexible workspace operator, Knotel, will be expanding to the Canadian market, with upcoming locations in Toronto. Though Knotel hasn’t disclosed specific dates or locations, “it did confirm that it will launch a number of spaces this year, with several more in the pipeline for 2020.” Toronto is the fourth largest city in North America and it is the epicenter of the Canadian economy. Knotel currently operates locations in New York, San Francisco, Los Angeles, London, Berlin, Paris, and São Paulo.
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Crowne Plaza Hotels & Resorts announced this week that it will open six flagships hotels in the US, Europe, and China that will feature flexible workspace areas in the hotels’ lobbies. According to the report, “the lobby design and guest rooms include distinct areas embedded with technology, empowering both guests and locals with the ability to work efficiently and relax on their terms. Select flagship properties will feature the flexible lobby areas featuring on-demand meeting spaces.”