Coworking

WeWork has announced that it will divest its Russia operations just days after CEO Sandeep Mathrani said the company had plans to keep its four Moscow locations open.

WeWork’s shares have fallen by over half since it went public in October, and reports now reveal that the company is looking to raise new equity.

CEO Stacy Taubman has announced that the coworking operator will unwind its business after the most recent Omicron wave of Covid-19 hindered its memberships.

Taking a dash of Airbnb’s model, Dan Hillman created Jarvo, a startup that aims to collect a network of flexible workspaces across the UK within peoples’ homes.

Flexible workspace provider Mindspace will open two new locations in Berlin following its recent funding of $72 million in equity capital that is going towards expansion.

WeWork CEO Sandeep Mathrani has confirmed that the coworking provider will continue to operate in Russia, citing how well its four locations in Moscow perform.

The pandemic’s impact on expansion plans and elongating sales cycles led to “lower than anticipated” bookings in the six months up to January 31 for software firm essensys.

Flexible workspace operator Industrious will team up with Piedmont Office Realty, CBRE, and Dilweg to open three new locations across the Atlanta market.

WeWork is seeking a new executive chairman following Marcelo Claure’s resignation, while Adam Neumann’s ban from observing the firm’s boardroom will expire this week.

Two former WeWork associates will join Avison Young’s new UK flexible workspace team as the real estate services firm works to adapt to the new needs of the market.