office space | Pixr8 News

31Aug By AdityaNo Comments

News

Pinterest Terminates Lease of New Office Space

SAN FRANCISCO, 31st Aug 2020-- Visual discovery platform Pinterest has terminated its lease for approximately 490,000 square feet of office space to be constructed near its current headquarters campus in San Francisco, California. Instead, the company’s present plan is to continue to lease its current buildings in downtown San Francisco and remain an active member of the local community. This action is intended to support a more diverse and geographically distributed workforce at Pinterest. "As we analyze how our workplace will change in a post-COVID world, we are specifically rethinking where future employees could be based," said Todd Morgenfeld, CFO and Head of Business Operations of Pinterest. "A more distributed workforce will give us the opportunity to hire people from a wider ra...

WeWork Appoints Indian Origin CEO to start fresh chapter

3Feb By PriyankaNo Comments

News

WeWork Appoints Indian Origin CEO to start fresh chapter

New York, Feb 3, 2020: Embattled office-sharing firm WeWork has hired a new CEO to turn the page on Adam Neumann, its co-founder and former leader whose antics have finally tired investors. Indian origin Sandeep Mathrani, a real estate industry veteran, will officially take over on February 18, WeWork said in a statement published Saturday. He will be charged with the difficult task of relaunching WeWork, which had been one of America''s most celebrated startups that put a mammoth footprint in the commercial real estate of major cities around the globe. Its collapse led to Neumann''s departure and cost the main shareholder, Japanese billionaire Masayoshi Son, billions of dollars. Mathrani will replace Artie Minson and Sebastian Gunningham, who have been acting as interim CEOs s...

3Jun By Lavina TolaniNo Comments

INSPIRATIONAL

5 Top Inspirational Movies Entrepreneurs Should Watch for Business Success

Have you heard of the industrial revolution? I can bet you would have. Well, this is the era of Entrepreneurship Revolution. If you are one of those young dynamic minds who has just begin his quest for entrepreneurship, then you would probably find it hard to align your goals and tasks without a colleague or friend support. On the other hand, if you have been in this adventure for quite a long time, you would probably have encountered many bumps in your road that would have made you hit rock bottom. Either way, as an entrepreneur, it's too easy to lose motivation. The key, however, lies in not giving up and finding ways that can lift you up for the difficult journey ahead. Wondering what could be a good way to indulge in some motivation? Sit back and watch a movie, from established compe...

14Mar By Sheldan RungasamyNo Comments

FUNDING

WeWork Raises $400 million Funding To Buy its Office Buildings

WeWork, a firm that delivers co-working and office space to small businesses and big corporations as well, is reported to have received a funding of $400 million. However, this funding round is different from previous funding rounds. It will come as an investment in the form of a small group of collective investments schemes with particular focus on real estate. It is the prolongation of a successful partnership between WeWork and a large private equity firm seeking to acquire real estates for WeWork’s business purpose. According to SEC filings, WeWork raised four new funds in association with Rhone Group, a private equity firm owning offices in New York, London and Paris. The funds raised include a first round of $25 million in new cash, a Fund A round of $201 million, a Fund B round o...

Vacancy of Office Space Lowest in Bengaluru at 4%

12Mar By AdityaNo Comments

News

Vacancy of Office Space Lowest in Bengaluru at 4%

Bengaluru has the lowest vacancy of office space at nearly 4 per cent among the seven major cities on account of robust demand from corporates, according to property consultant JLL India. The demand of office space is expected at 8 million sq ft in the 2017 calendar year against 8.6 million sq ft occupied in last year. "Among the seven major office markets in India, Bengaluru continues to have the lowest vacancy levels at slightly less than 4 per cent," JLL India CEO and Country Head Ramesh Nair said in a report. "In a trend led by the IT capital of India, how can other IT cities be far behind? Pune and Hyderabad too have vacancy levels at over 5 per cent and 9 per cent respectively," he added. The vacancy level in Chennai is around 11 per cent, Mumbai 18 per cent, Kolkata at o...

SoftBank Considers Investment of Over $1Bn in WeWork: Report

31Jan By reutersNo Comments

FUNDING

SoftBank Considers Investment of Over $1Bn in WeWork: Report

SoftBank Group is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter. The deal could be among the first from SoftBank's $100 billion technology fund, the report said. SoftBank and WeWork declined to comment. WeWork is currently valued at nearly $17 billion and SoftBank's valuation of the company is expected to be at or above this figure, the publication said, citing sources. Citing sources, it also said SoftBank had earlier discussed an investment in WeWork before pulling out and added that talks may not result in a deal this time. Some SoftBank executives have reportedly raised questions whether the WeWork deal is overvalued, saying a company in the business of offi...

WeWork Controversy- Startup Thinknum Removed After Negative Blogpost

24Jul By PriyankaNo Comments

Story

WeWork Controversy- Startup Thinknum Removed After Negative Blogpost

WeWork Cos, the office-space sharing start-up with an estimated $16 billion valuation evicted one of its tenants which wrote and take down a negative blog on medium that suggests members leave has surged in recent months. The posting on Tuesday by Justin Zhen, whose data analytics firm Thinknum operates out of a WeWork site on 42nd Street in Manhattan, also said that member engagement on WeWork's social networking platform is surprisingly low. The platform is seen inside the company as a key tool for creating a sense of community at WeWork locations. The company sees its fortunes tied to the premise that the entrepreneurs and young urban workers populating its workspaces will form lasting communities in part by being active on the network. Zhen's analysis said WeWork's historical churn ...