After WeWork announced it would be delaying its IPO until later this year, other coworking operators offered insight into why the company does not represent the whole industry.
Although WeWork is the top dog of the pack by square footage, competitors are gaining traction using their own business models.
Jamie Hodari, CEO and cofounder of Industrious, said that he is still confident in flexible working arrangements and that we are seeing a shift towards more amenitized workspaces.
“I think we’re rooting for them,” said Hodari. “I don’t think we have any stake in competitors stumbling — it’s just not that kind of industry.”
Hodari also said that his company’s model is much different from WeWork’s as Industrious tries to partner with landlords and enterprise companies rather than signing traditional leases.
Additionally, Breather CEO Bryan Murphy said that he is also confident that real estate decision-makers will be able to tell the difference between WeWork and its competitors.
Breather specifically provides flexible space and a white-label product to landlords who want their own brand on a coworking space.
Overall, WeWork’s challenges may actually be positive for the industry as it gives competitors a chance to highlight how they their model is actually sustainable compared to the unicorn.