KATE THOMPSON FERREIRA: Even WeWork wants to be a tech unicorn
Company that lets fully equipped offices takes flak over claim in initial public offering, and dodgy Wi-Fi
WeWork (or We Company, now) announced its plans to file for an initial public offering (IPO) earlier in August. WeWork isn’t the first company to offer shared work spaces. This brand is, however, utterly synonymous with the concept of co-working. It is the biggest private tenant office tenant in London, New York City and — excluding the government — in Washington DC.
Nine years after it launched, there are WeWork offices in more than 100 cities, including two in Johannesburg. The finishing touches are being put to its first Cape Town property (80 Strand Street), where a single “hot desk” in the communal area will cost R3,250 a month, and private offices to accommodate 11-20 people will set you back about R72,000 a month. ..
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