Wework Launches New Business Services Platform
The office real estate company launched its platform Business Solutions in partnership with VensureHR, aiming to provide resources including payroll assistance to the more than 612,000 members WeWork has globally.
Prabhdeep Singh, global head of marketplace at WeWork, said the new offering is part of the company’s evolution from a real estate company to a larger business marketplace.
Business Solutions will be offered to WeWork members in the U.S. through a monthly subscription service, targeting small- and medium-sized businesses. While the company would not provide specific pricing, Singh said WeWork would provide the software and labour needed for companies to develop human resources, process payroll, employee benefits, and technology support, among other services. The platform will launch in the U.S. immediately, before expanding globally next year.
The rollout is the latest push by WeWork to turn around its operations, under CEO Sandeep Mathrani, who joined in February. The company nearly collapsed after investors pushed back against its high valuation, questionable balance sheet, and governance structure in a failed IPO attempt.