Coworking spaces have always been the top choice for many individuals to work in. They provide an excellent social environment for work and help to set establishments with the people in the industry. Recently, due to the COVID-19 pandemic, the popularity of coworking and shared office spaces has gone down drastically.
But now, we can see a comeback in shared office spaces post COVID-19 pandemic. WeWork, one of the most popular shared office space providers in India, is also expecting the same results. Sandeep Mathrani, CEO of WeWork, mentioned that as vaccines have arrived and helped a lot to control COVID-19 significantly, we can also see a comeback in the shared office spaces.
“As pandemic is controlled to an extent and offices are opening to go back to normal, and freelancers need some social place to work in, we see a comeback of shared office spaces trend. As we provide such office solutions and spaces, we expect to see this drastic change first than anyone else.” Said Mathrani on Sqawkbox. “We are observing these changes in New York also, and we expect to the same in India as well.”
Mathrani’s comments on Friday came shortly after WeWork announced its intention to go public with a joint venture against BowX Acquisition Corp., a specialized discovery company. The agreement looks at WeWork at $ 9 billion, including debt.
The company’s valuation in the private market had reached nearly $ 47 billion before its first public release in 2019. A survey retained WeWork’s traditional IPO plans due to weak demands, falling prices, and management concerns. Its founder and then-CEO, Adam Neumann, was fired this year.
SPACs became famous last year, providing an alternative for non-governmental organizations to access public markets. Sometimes referred to as unlisted companies, SPACs expand the capital with a temporary IPO to meet with a private agency, thus taking it away from the public.
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The amount of money collected by SPACs in 2021 has already surpassed all 2020 when a wave of companies looking for nothing begins to choose. However, there have been indications that investors’ interest in SPACs has declined recently.