WeWork Completes One Year in India

WeWork, the global network of collaborative spaces where companies and people grow together, has successfully completed one year in India. After the successful launch of its first location - WeWork Galaxy - in Bengaluru in July 2017, WeWork has expanded to 9 locations across three key cities, i.e., Delhi, Mumbai and Bangalore, and is looking to continue its growth trajectory.

 Shifting away from conventional norms of a space provider, WeWork is accelerating the future of work by providing a platform for creators to work in a  collaborative space, connect, build a community while immersing themselves in a range of services to help them make a life, not just a living.

 WeWork entered India through a joint venture with Embassy Group in July 2017. By leveraging on Embassy’s extensive land bank across the country, along with driving WeWork’s technology and global experience in design, the brand has grown from just 2,200 members in its first space, WeWork Galaxy, to over 10,000 members and 12,000 desks across its 9 locations in India. By the end of 2018, it aims to open 4 more locations in Delhi, 4 in Bangalore and 6 in Mumbai which will raise the number of locations up to 20 that will accomodate for 35,000 members.

 Karan Virwani, Co-CWeO, WeWork India, said, “With WeWork India turning one, we are excited to continue our journey towards creating spaces that inspire people to be creators. By Fostering the spirit of collaboration,.we want to make our members feel excited about coming to work every day. India is home to 65% of the population being under the age of 35 years who are seeking greater social engagement and looking to be a part of a large community of like-minded people. Our aim is to double our locations by the end of 2018 and to grow our community while providing  them access to our global community and comforts of beautifully designed spaces. This is only just the beginning of our path towards the future of work.”

 Ryan Bennett, Co-CWeO, WeWork India, said, “India is one of the fastest growing economies in the world. The country is home to one of the largest number of startups, coupled with large enterprises and SMEs, that are experiencing rapid growth. We launched in India last year with the intention of meeting the needs of people and companies looking to expand their base in a work environment that leads to collaboration, productivity, and innovation. We owe our upward growth trajectory to our community of over 2.5 lakh members who are as passionate as we are -- to create, collaborate and communicate something meaningful. Their enthusiasm is evident from the positive response we’ve received, as all our locations, which have been operational for 6 months or more have a high occupancy of over 90%.”

 Ryan further added, “What’s remarkable about WeWork’s growth story in India is that unlike the rest of the world where we see a member mix of 25% large enterprises and 75% small and medium companies, India has a healthy mix of 50% each. This means that even large enterprises are looking to build their offices in such collaborative spaces to help them drive their community, spur interactions as well as retain and attract talent. As cities become more crowded and real estate more expensive, we see the demand getting even bigger.”

 WeWork India plans to further expand to Pune, Chennai, and Hyderabad and hire 150 people across sales, community and design and development by next year.

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