SHARING ECONOMY

WeWork to continue expansion in Singapore, very profitable despite global layoffs

Co-working space operator WeWork has been dogged by cash flow problems and was forced to lay off about a fifth of its workforce last year, but it remains in robust health in this region, it seems...

WeWork's Q3 net loss doubles to $1.7b amid failed IPO

SAN FRANCISCO • WeWork reported a net loss of US$1.25 billion (S$1.7 billion) in the third quarter, eclipsing its sales and more than doubling its loss from the same period last year.

Short leases come with high risk for co-living players

CO-LIVING'S short flexible leases - one of its main draws - could also be the biggest risk factor in its business model.

WeWork bosses tell employees job cuts are coming this month

SAN FRANCISCO (BLOOMBERG) - WeWork's leaders told staff that job cuts are coming as soon as this month.

Co-living firm aims to double number of beds here

Co-living start-up Commontown aims to double the number of beds it has in Singapore to 80 from 40 by the end of the year, and expand to Indonesia and Malaysia in the first half of next year.

WeWork's Adam Neumann: A charismatic leader who took aim at the rulebook

NEW YORK (AFP) - WeWork co-founder Adam Neumann, whose unconventional approach to business and governance pushed boundaries on Wall Street and Silicon Valley, stepped down as chief executive on...

WeWork CEO returns $8.2m the firm paid him for ‘We’ trademark after backlash

NEW YORK (REUTERS) - WeWork owner The We Company took some steps on Wednesday (Sept 4) to burnish its appeal to investors ahead of its initial public offering by adding a woman, Frances Frei, to...

WeWork rival Knotel vaults to unicorn status

NEW YORK (BLOOMBERG) - Knotel Inc, which pitches itself as a steadier investment than much larger competitor WeWork, raised US$400 million (S$553.6 million) at a valuation that catapults the start...

WeWork looking to raise US$3b to US$4b in debt ahead of IPO: Source

NEW YORK (REUTERS) - Shared office space manager WeWork Cos is looking to raise US$3 billion (S$4.08 billion) to US$4 billion in debt before it goes public, a person familiar with the matter said...

WeWork continues to lose money ahead of potential IPO

NEW YORK (NYTIMES) - WeWork's primary business mission remains maintaining its heady growth rate, even as it continues to lose money, according to its latest quarterly financial results.

Singapore's JustCo expands to Taiwan with opening of 3 new co-working centres

SINGAPORE - Singapore-based JustCo has expanded to Taipei, securing three new co-working centres in the city.