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Report: WeWork accelerates opening of new sites


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Report: WeWork accelerates opening of new sites

Coworking giant WeWork Cos. Inc. added 94 new locations between the start of July and Oct. 10, taking its tally to 622 open sites in 123 cities, as of Oct. 10, Reuters reported, citing its analysis of information on WeWork's website.

This compares with a total of 528 locations in 111 cities on June 30 that was outlined in the prospectus for its parent The We Co.'s abandoned IPO, the news agency added. The company's website also lists 89 sites as "coming soon," while 117 sites are identified as "just announced." In all, the company aims to have 845 locations in 125 cities.

The company recently decided to postpone its IPO indefinitely and has since been reported to be seeking fresh financing to provide itself with enough liquidity to see it through to the end of 2019.

A WeWork spokesperson declined to comment on the matter, Reuters added.