WeWork Rivals Pitch to Win Back Market Share Try Not to Gloat
- After years of rapid growth, wary WeWork landlords seek plan B
- Competitors who saw tenants poached see tables turn on WeWork
Members work inside the Spaces co-working office, operated by IWG Plc, in Geneva, Switzerland, on Sept. 24.
Photographer: Alberto Bernasconi/BloombergThis article is for subscribers only.
On its way up, WeWork poached customers with free rent and rich broker commissions, trampling on less wealthy and aggressive competitors to gain a seemingly dominant position. Now the tables are turning, and rivals are struggling to contain their glee.
“Happy birthday to me, happy birthday to me,” sang a senior executive of another co-working company who asked not to be identified.