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Jonathan Price – CRE & Flex Expert
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WeWork has announced a new partnership with Upflex that will see WeWork members gain access to Upflex’s massive portfolio worldwide.
Through this new deal, WeWork will be able to expand its WeWork Access program that gives members the chance to research, view, and book space at non-WeWork locations in Upflex’s network.
The deal will create a combined network of over 5,500 locations, allowing WeWork to be the exclusive seller of Upflex’s inventory.
WeWork will also participate in Upflex’s Series A funding round.
In return, Upflex will be the exclusive coworking aggregator with access to WeWork’s portfolio. This will allow Upflex members and employees to book space at WeWork locations through its own platform.
This marks the first time the New York-based coworking operator has allowed bookings from a third-party platform.
“This partnership is a significant step forward for both our supply partners, who will see huge demand growth, and our customers, who will be able to embrace the largest and highest quality flex network in the world,” said Christophe Garnier, CEO of Upflex. “WeWork and Upflex share the same goal: create a better workplace for everyone, and we are excited to take the industry to a new level by matching the largest players in supply and demand together.”
The partnership highlights WeWork’s efforts at taking an asset-light approach following years of offloading its hefty liabilities. By signing these types of deals, WeWork is able to continue expanding its reach without adding massive capital investments.
