The deal went down at a whopping valuation exceeding $800 million. We all remember the shockwave when WeWork filed for bankruptcy in November 2023 despite once being valued at a staggering $47 billion né?. By February 2023 the company had a workforce of 583 employees a testament to its growth and success.
This acquisition is definitely turning heads especially when you compare it to the fate of its competitor WeWork né?. The company soared 24 times during his firm’s investment phase.
Unlike WeWork, Industrious carved its path by focusing on partnerships with property managers instead of diving headfirst into real estate leases for new locations. On the flip side, Industrious thrived, showing remarkable growth under the watchful eyes of investor Francisco Alvarez-Demalde from Riverwood né?. This strategic move will spark the birth of a fresh business segment dubbed Building Operations & Experience (BOE), spearheaded by Industrious CEO Jamie Hodari né?. This shift symbolizes Industrious’ evolution from a mere bright idea to a hub where individuals can mingle, exchange ideas, and foster connections that go beyond the confines of their screens.
So, what do you make of this exciting turn of events in the real estate universe? Let me know your thoughts!
. The transition is projected to boost core EBITDA and free cash flow by 2025.
In an elated blog post Hodari shared that teaming up with CBRE will give Industrious the leverage to offer more resources to its members and break into wider markets. Hey there, folks! Let me share some exciting news in the real estate world! CBRE, a major player in the industry, made headlines on Tuesday by announcing its acquisition of the remaining stake in the co-working startup Industrious né?. Essentially, a smart move that paid off big time.
With its roots as an investor in Industrious since the end of 2020, CBRE is now sealing the deal by nabbing the remaining equity stake for approximately $400 million.
Industrious which kicked off in New York back in 2013 had managed to secure a total of $522 million in funding from backers such as Riverwood Capital and Fifth Wall Ventures
