WeWork’s CFO says it will generate $2 billion in profit on the desks it’s opened this year, and it’s proof the ‘space as a service’ model is working
|05/16/2019||Posted by BusinessMediaguide.Com under General World News||
- WeWork’s 100%-plus growth rate on all of its key quarter one numbers shows that its approach to “space as a service” is working, co-president and chief financial officer Artie Minson told Business Insider.
- The firm’s revenue doubled year-over-year, to $689 million, last quarter.
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WeWork doubled its revenue in the first quarter, and it’s gearing up for even more growth.
The company now has $3.4 billion in multi-year agreements with big companies, a major revenue driver as it moves away from overseeing coworking spaces for small startups and into managing office space for big companies.