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WeWork looks to fend off rival Industrious

Unlimited cash from SoftBank clearly helps

WeWork co-founders Miguel McKelvey and Adam Neumann (Credit: FT)

WeWork hired a former Amazon executive Sebastian Gunningham to lead the Unicorn’s efforts to market office space to companies with over 1,000 employees, according to Fortune. WeWork believes that these companies will benefit from its design and management insights gleaned from operating millions of square feet throughout the world.

Be Smart: WeWork rival Industrious has moved away from signing capital intensive leases to focus on partnering with landlords to manage their space. While WeWork was initially built for a younger audience, Industrious has shifted its business model to partner with larger companies.

The Backdrop: This comes on the heels of Industrious raising $80 million in a Series C funding round.

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