Ahead of its planned IPO, the coworking giant WeWork is reportedly in talks to acquire SpaceIQ, a real estate-focused software startup. CNBC argues that acquiring the software company would help WeWork “convince Wall Street that it’s at least somewhat of a technology company,” as opposed to a real estate one. Categorizing itself as a technology company increases WeWork’s chances of justifying its lofty $47 billion valuation.
YourStory reported this week that India-based coworking space operator, GoHive raised “pre-series A funding of Rs 2.5 crore ($35.9K) in a round from undisclosed angel investors.” The coworking space company will use the funds to fuel its growth and expansion plans and it expects to double its coworking footprint within a year. GoHive is eyeing NCR, Bengaluru, and Mumbai.
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In an interview with Commercial Property Executive, Nick LiVigne, Head of Product for Convene, stated that there is a shift in the coworking industry moving from collaborative spaces to wellness. Some ways coworking spaces can move to a wellness focus is by providing a culinary program focused on fresh meals, offering meditation or yoga classes, and inviting motivational speakers into their space. As for what the future holds for the industry and real estate in general, LiVigne believes that people will increasingly opt for buildings that deliver on a unique experience. These experiences can include elements like security, fitness, flexible workspace, meeting space, lounge areas, clubs, and more. Though the experiences don’t necessarily have to be delivered by the same company, the idea is for individuals to be able to seamlessly plug and play and switch into whichever the prefer.