Business Today

FLEXIBLE WORKING

ADAM NEUMANN, CEO OF WEWORK, the American poster boy of co-working spaces, was forced to quit after the company’s IPO flopped spectacularly. In just one month, the company brought down its valuation from $47 billion to $10 billion, before postponing the issue indefinitely. Investor SoftBank and its Vision Fund collectively wrote down $8.2 billion on WeWork investments, forcing its head, Masayoshi Son, to admit that investing in WeWork was a mistake.

The tremors of the WeWork debacle were felt in India too. Some started questioning the feasibility of the boom in co-working spaces that India has been seeing over the last few years. The future of WeWork India, too, became a hotly debated topic. Realising the gravity of the worries, Jitendra Virwani, Chairman and Managing Director of the Bengaluru-based Embassy

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