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Could you tell me why WeWork grow so fast compared with Regus and Make offices
Hello! Thanks for your request on how Wework was able to grow faster than Regus and Makeoffices. The short version is that Wework is the pace-setter in the co work space and exhibits a lot more culture, is more lively and has less corporate oriented structure compared to Regus. Below is a deep dive of our research and methodology.
METHODOLOGY
My colleague and I combed through industry reports and trusted media sites to find the information regarding Wework compared to Regus and Makeoffices. What we found was information that pertains to how Wework was able to grow faster than its competitors. We focused on comparing Wework and Regus because Makeoffices is a fairly new company.
WEWORK VS REGUS
Wework is the pace-setter in the co work space and exhibits a lot more culture, is more lively and has less corporate oriented structure compared to Regus. Wework has the highest degree of diversity with 44% of its members/tenants being females. Regus on the other hand focus on privacy, security and believe in making a workspace feel professional and corporate. Regus is by far the firm with the highest number of workspaces at almost 3000 in 900 cities, Wework claims 130,000 members/tenants in 45 cities. Wework is valued at $20 billion as they got a big boost from a $4.4 billion investment from Softbank, while Regus is valued at $2.98 billion. Regus tenants are predominantly made up of middle-aged executives and each work space has its own receptionist, Wework on the other hand engage its members in social and fitness activities such as yoga, spinning, dance, meditation, kickboxing, massages, happy hours, hair cuts, discounts on software and services, and events. Wework is the preferred workspace by millennial clients who are coming of age and drawn to its “distinct aesthetic and vibe” that inspires teams. Wework focuses on flexibility, culture, global community of brands and businesses, access to training and workshops and a creative environment that encourages collaborative thinking. According to an article, WeWork have successfully created the right cultures for work and that’s the key to its growth. Regus focuses on privacy, security and thus tailor to people looking for a more professional corporate. This hinders them as people in co working spaces are more interested in a more enhanced social experience, networking, and community support. The reason why Wework is able to grow faster is their culture and diversity in which they offer.
MAKEOFFICE
Makeoffices is relatively new company. They currently only have 13 workspaces in 3 states, Makeoffices does not operate on the same scale as Wework or Regus. They received a total investment of $14 million from Angel investors which may help them grow their company. The firm first launched in 2013 and was relaunched in 2015. Makeoffices focuses on offering the best possible amenities at the cheapest of prices.
CONCLUSION
To wrap this up, Wework is the pace-setter in the co work space and exhibits a lot more culture, is more lively and has less corporate oriented structure compared to Regus.
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