WeWork to pump $100mn into India business
WeWork India is looking to reframe its operation around the future of work in a pandemic.
WeWork will invest $100 million in its Indian business to help boost WeWork India’s sustainable growth. WeWork India is looking to reframe its operation around the future of work in a pandemic. The company said that the fresh funds will support WeWork India’s long-term strategy, focussed on member experience and strong financial performance at the building level.
Karan Virwani, CEO, WeWork India, said: “The flexible workspace industry in India and around the world is facing its biggest challenge yet. In that, we see a new opportunity that suits our members’ evolving needs. This is driven by an acceleration towards variable real estate costs, the confidence of safe and well-managed workspaces for their employees, and the growth opportunities that are intrinsic to the WeWork community.”
He further added, “The fresh round of capital from our long-term partners at WeWork global represents a vote of confidence in our strategy and will help us serve our community better.”
The company said it is already profitable and plays an important role in the global scheme of business for WeWork.