Advertisement
Back To Daily Digest
Tags: BUSINESS

IWG Provides The Wing With Much-needed Fundraising

Female-oriented coworking operator The Wing, which was on the cusp of filing for bankruptcy, has been given a second chase.

IWG has provided The Wing with an undisclosed new round of fundraising so it can expand across the country and worldwide.

“We are thrilled to share that The Wing has partnered with IWG PLC, the world’s largest flexible workspace provider, paving the way for The Wing to pursue its substantial growth plans both in the U.S. and internationally,” said a spokesperson for The Wing. “We welcome IWG to our team to bring two organizations together with a shared commitment in creating communities and spaces designed for women.”

The Latest News
Delivered To Your Inbox

In the heyday of coworking, The Wing was raising millions of dollars in fundraising from companies like Sequoia Capital and WeWork.

After WeWork divested its stake it had in The Wing, the social club’s valuation fell from $365 million to $200 million.

Then, The Wing laid off the majority of its hourly workers and half of its corporate staff at the beginning of the pandemic. In July, it let go of an additional 58 employees.

It also came under scrutiny after staff members made complaints about their working conditions and mistreatment of people of color.

In October, it was reported that the company’s financials are greatly struggling and that it was close to filing for bankruptcy.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

Latest on Daily Digest

Companies Are Not Adjusting To The Future Of Work

Countries Offering Remote Working Programs

The State Of D.C.’s Coworking Market

Leasing From Life Science Firms More Than Doubled In 2020

How AI Can Facilitate Innovation

What The Future Of Work Won’t Involve

Adam Neumann And SoftBank Approach Settlement Deal

Downtown Brooklyn Complex Ushers In New Leases

IWG Takes Over Third WeWork Hong Kong Location

HSBC To Move Forward With Office Reduction

Ad
Advertisement

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad
Advertisement
Advertisement
Advertisement
Advertisement