WeWork’s revenue rose by 110%

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WeWork’s revenue rose by 110%

June 14, 2018 - 16:00
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With global expansion WeWork attracts growing number of people into its office spaces, Bloomberg reports. As a result, revenue of the company operating in co-working sector grew by impressive 110% last quarter to $342 million.

Photo © Gerd Altman, CC0 1.0

With global expansion WeWork attracts growing number of people into its office spaces, Bloomberg reports. As a result, revenue of the company operating in co-working sector grew by impressive 110% last quarter to $342 million.

Occupancy level for WeWork buildings, where stratups and large companies rent offices, grew to 82% by the end of first quarter. A year ago this level was 73%. Besides, company is presented in 73 cities now compared with 40 last year.

While WeWork started offering monthly lease to entrepreneurs, freelancers and small firms, large companies are more attractive. WeWork is capable of offering them an easy and fast way to organize office spaces. Share of enterprises in memebership is 24% now compared with 14% in first quarter of 2017.