Great deal for the co-working giant
WeWork reached an agreement with UBS to renovate and redesign their office space, according to Bloomberg. The co-working giant should continue focusing on becoming more of a management company to reduce exposure and risk. Without the billions, the company would be forced to do more of this. Sometimes too much money stunts creativity.
The concept: This new business line offers design and office management expertise to large companies. It generated $13.7 million in revenue last year.
Why it matters: The coworking giant is looking for new revenue streams to justify their excessive valuation.