The Executive Centre (TEC) plans to expand its India footprint by 300,000 sq ft in 2024, amid strong demand. Despite challenges in securing Grade A buildings, TEC achieved record global revenue of USD 315 million, with India contributing significantly to adjusted EBITDA. TEC aims for 10-15% YoY revenue growth in FY 2024-25.
The company has been in turmoil ever since its plans to go public in 2019 imploded following investors skepticism over its business model of taking long-term leases and renting them for the short term and on worries over its hefty losses.
WeWork Stock Split: WeWork, once privately valued at $47 billion, now has a market capitalization of about $336 million in a stunning reversal of fortune.
Flexible workspace provider WeWork that exposed the personal information and selfies of thousands of people who visited its co-working facilities in the country, on Tuesday said it has fixed the bug that was part of a third-party software.