ThisWeekIn Coworking

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Mark Dixon from IWG shares about their continued rapid growth, their "network coverage Expand πŸ‘‡ strategy" and how the whole narrative about "going back to the office" is wrong, as people are going increasingly to offices that are more convenient to them and reducing as much of the commute as possible.

Vibushan Thirukumar discusses coworking, high street regeneration and the local economy with Ian Expand πŸ‘‡ King on Sky News, oh any how indie operators like Oru are so different from the IWGs and other big brands of the industry.
πŸš€ IWG posts highest revenue… in THIRTY FIVE YEARS.
IWG just reported in preliminary results for last year that revenue had grown 10% to Β£3.3B (approx Expand πŸ‘‡ $4.2B). Of that their gross profit increased by 41% to Β£528M, with margins up from 15.9% in 2022 to 20.4% in 2023.
For those holding shares via the London Stock Exchange, it’s interesting that they have announced that they will both pay a dividend (of 1p per share) and are considering a New York listing.
For everyone else, it can be helpful to see what kind of scale and revenue a multi-brand operator with 3,514 locations across 120 countries is getting – especially when the media and certain companies like to paint coworking and flex workspaces as "unsuccessful" or unprofitable.
πŸ€— How one flex space operator changed 139 lives.
JosΓ© Rubio shares some data from the Spacemade and Beam partnership, showing how the firm has helped Expand πŸ‘‡ 91 people get into work, 45 people supported into housing and Β£2,100 given directly to members.
ICYMI: Beam is an award-winning Tech for Good platform that supports homeless people and refugees into stable jobs and homes. I do love how they share data on just how far these partnerships go in helping those who need it.
πŸ’¬ Discuss this.
πŸ—ž Week 08, 2024
πŸ”— Direct Link
✊ Impact
⏱ 50 days ago.
πŸ‡¬πŸ‡§ Another local UK brand “partners” with IWG
Steve Upham shares how after 7 successful years as an independent brand, altspace (in Cheshire, UK) Expand πŸ‘‡ have partnered with IWG to run the business. The deal seems to be to merge altspace into the HQ brand as a franchise partnership.
This follows Week 5’s story where another local UK brand HomeWork partnered with IWG. Watch this space as I’m betting the publicly traded operator ‘partners’ with even more local brands, or maybe even this totally-not-local brand.

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