WeWork India Eyeing to Raise $200 Mn from Goldman and Warburg
The Indian wing of Co-working mammoth WeWork lead by billionaire developer Jitu Virwani of Embassy Group is in talks with global leaders Goldman Sachs and Warburg Pincus to raise $200 million.
This will land the local's unit to earn a unicorn status nearing valuation of $1 Billion. As per the sources, Goldman, Warburg eye $200 million stakes in WeWork India.
WeWork in India is operated exclusively by Virwani and Embassy under a deal that materialised two years ago. Since, then the co-working pioneer has made significant leaps in the country with 12,000 desks in operation currently, which it plans to double by the end of this year. Additionally, India is the sole big market where New York-based WeWork-valued last at $20 Bn has successfully struck an exclusive deal to operate in India....