Co-working company Knotel is planning to profit from WeWork’s misfortune by focusing on bigger clients wanting more space.
Knotel CEO Amol Sarva believes that WeWork’s problems came from focusing on small start-ups of two people wanting to share a desk, making it little different from ‘a Starbucks’.
Knotel, which has 250 properties in 15 cities, closed a $400m investment from the Kuwaiti social security fund valuing the business at over $1bn.
It plans to expand as large companies outsource their real estate needs.
As if to make it clear that WeWork’s loss would be his gain, Sarva wore a t-shirt with the logo ‘Grave Dancer’ while talking to the FT.
