A co-working company in Germany
WeWork rival Knotel has acquired Ahoy!Berlin, a co-working company in Germany, according to TechCrunch.
Follow the leader: After raising $70 million in a Series B two months ago, Knotel is spending the money to expand internationally. Although the company has made strides, WeWork remains in a league of its own.
Astounding Valuation: Hard to believe that a company that was only founded in 2016 is already valued at $500 million.
How they did it: Copy Adam Neumann! With WeWork’s absurd $20 billion valuation, competitors simply follow Neumann’s strategy. The common flaw of this strategy is the exposure to a downturn in the office market.