WeWork Turns to New Business Model for India Expansion
Co-working startup is said to work with Embassy Group to pay for leases on upcoming India locations.
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As WeWork Cos. prepares to open its first location in India, the world's largest co-working startup is turning to a new business model that lets it avoid costly leases.
Instead of leasing the properties itself, WeWork's first Indian offices will be paid for by Embassy Group, a Bengaluru-based real estate firm, said people familiar with the matter. They plan to open co-working spaces in the city formerly known as Bangalore, as well as Mumbai and New Delhi, by the first half of next year, said the people, who asked not to be identified because they were not authorized to discuss the agreement publicly.