Believe India | विश्वस्त भारत’s Post

Table Space, India’s largest flex workspace provider, eyes $2.5B valuation for upcoming IPO - One of India’s largest providers of managed workspaces, Table Space, is reportedly aiming for a valuation of over $2.5 billion when it conducts an initial public offering (IPO) next year. Founded in 2017, Table Space leases large office spaces across major Indian cities and transforms them into fully-serviced and tech-enabled workcampuses catering to large corporates. Sources familiar with the matter indicate that Table Space has selected Axis Capital as the bookrunner to handle its IPO. The Bengaluru-headquartered startup is currently valued at around $550 million after raising $300 million from Hillhouse Capital in late 2022. Table Space currently operates more […] https://lnkd.in/gysRpduX #StartupUpdates #StartupNews #EntrepreneurLoop #StartupWorld #EntrepreneurNews

DevX is set to expand its coworking spaces through an IPO, offering 2.47 crore equity shares. The funds will be used for expansion, debt repayment, and corporate purposes, following their profitable FY24. This move strengthens their position in the flexible workspace market. #DevAccelerator #IPO #CoworkingSpaces #FlexibleWorkspaces #BusinessExpansion #RealEstate #CorporateGrowth #FY24 #DevInfoTech #PublicOffering #StartupEcosystem #DevX #TheFlexInsights #FlexOffices #Flexspace #Flexnews

I'm thrilled that IndiQube is gearing up for an IPO, marking a significant milestone in its growth journey! This move exemplifies IndiQube's success and commitment to expanding innovative coworking solutions. Their IPO presents a unique opportunity for investors and businesses to be part of a leading force in the coworking industry. I've witnessed IndiQube's exceptional service and dedication as a satisfied customer. IndiQube stands out not only for its top-notch workspaces but also for its strategic edge. It offers competitive pricing, well-trained staff, and facilities that ensure professionals can find a suitable environment wherever they go. IndiQube is a game-changer for anyone seeking to elevate their work experience with cutting-edge coworking solutions. Here's to many more milestones and success for Rishi Das and Meghna Agarwal, the driving forces behind IndiQube! https://lnkd.in/gda6kaBr #Coworking #WorkspaceSolutions #IndiQube #ProfessionalGrowth #Innovation #CostEffective #Expansion

Smartworks’ topline tripled to exceed INR 1K crore in FY24 and now the startup is preparing for its debut in the public market. In doing so, it’s following in the footsteps of its rival Awfis, but with a significantly larger #IPO 👇 Set up in 2016 by Neetish Sarda and Harsh Binani, Smartworks calls itself an #office experience and managed campus platform, a state-of-the-art system that looks after technology aspects, operations, and more. The company filed a DRHP with SEBI in early August for a fresh issue of equity shares worth INR 550 Cr and an OFS of 67.59 Lakh equity shares by promoters. It claims to be the largest managed campus operator among benchmarked peers in terms of total workspace stock as of March 31, 2024, managing 8 Mn sq. ft across 39 operational centres. A 2024 report by Avendus Capital forecasts that the flexible #workspace sector will expand to 126 Mn sq. ft by 2028, at a 15% CAGR, and address a $9 Bn market. Alongside Smartworks, industry leaders like WeWork India and BHIVE are also eyeing IPO opportunities in the coming years. Given this backdrop, public market interest in coworking space providers will be pretty strong when they make their #market debuts. Can Smartworks’ IPO capitalise on the growing flexible workspace trend? Find out more in our in-depth article: https://lnkd.in/gBHxH_AA #IPO #smartworks #startup

In stark contrast to WeWork’s bankruptcy filing last year, India’s co-working leader, IndiQube, is preparing for an IPO—already profitable and projecting strong earnings growth this fiscal year. I've had the privilege of witnessing Indiqube's remarkable 9-year journey up close, from their first property in Bangalore to over 100 locations across India. Their growth post-COVID has been extraordinary. The lesson? Sound business principles never go out of style. Indiqube’s IPO and the disciplined approach will set a new benchmark—not just within the co-working or commercial real estate sectors, but across the spectrum of new-age companies entering the public market. Congratulations and best wishes to Rishi Das and Meghna Agarwal and the team! https://lnkd.in/gqznRUQd

WeWork's Rise and Fall 2010: Adam Neumann co-founds WeWork Concept: Trendy coworking spaces 2014-2018: Rapid expansion • Raises billions in funding • Valuation hits $47 billion • Opens locations globally 2019: IPO attempt reveals issues • Massive losses exposed • Neumann's conflicts of interest uncovered • Corporate governance problems highlighted September 2019: Neumann forced out as CEO October 2019: SoftBank bailout • $9.5 billion rescue package • Valuation plummets to $8 billion 2020-2021: Pandemic struggles • Empty offices • Lawsuits from investors 2021: SPAC merger • Goes public at $9 billion valuation 2022-2023: Continued challenges • Persistent losses • Multiple CEO changes • Stock price decline Lessons: 1. Sustainable growth trumps rapid expansion 2. Proper governance is crucial 3. Beware of charismatic leaders without checks 4. Profitability matters, not just vision WeWork's story: A cautionary tale of hype, mismanagement, and the dangers of prioritizing growth over fundamentals 📌 Follow Dev Oza for more! #StartupFailure #CorporateGovernance #TechBubble

WeWork: Bankrupt; WeWork India: IPO pathway WeWork India is a 73%::27% JV between Embassy Group & WeWork - Embassy Group has thus far done a phenomenal job on executing the co-working playbook (1) Embassy stands to make substantial money from just this change of ownership: - WeWork's 27% stake (₹700 crore) gets bought out at a ₹2600 crore valuation - A 40% stake will then be sold to PE investors for ₹1200 crore at a ₹3000 crore valuation (2) WeWork India is very well run - FY 23 revenue was ₹1300 crore (almost x2 what it was in FY 22) - Cut its loss from ₹700 crore to ₹100 crore (FY 22 v/s FY 23) - And, WeWork became EBITDA +ve in FY 23 (and, in FY 24, it generated ₹500 crore of EBITDA in the first 6 months) (3) My take on why WeWork India succeeded? (a) Embassy ran it like a real estate business (NOT a Tech company); their office park REIT is a good example of their execution. (b) Embassy went after Enterprise clients (80% of seats) who are sticker & pay more per seat (including value added services) (c) Embassy owns (large chunks of) real estate which WeWork India leases (i.e. full stack approach) (d) The WeWork brand just works :) Embassy plans to take WeWork India public. (i) Yesterday, Awfis (co-working space operator backed by PeakXV) also got the SEBI nod to go public (ii) Perhaps, we will soon see a larger set of co-working companies IPO (e.g. 91Springboard) ➡️Glad to see that Embassy Group has created a 5% ESOP pool (would be worth ~₹150 crore upon the stake sale to PE investors)

The WeWork bankruptcy restructuring symbolizes a significant transition for the company and possibly the coworking industry as a whole. With fewer locations, a reduced debt burden, and a new business model, WeWork is poised to test its hypothesis that flexibility is indeed the way forward for office spaces. As the company exits bankruptcy, it will enter a new era, one that could redefine coworking's role in the modern work environment.https://wix.to/XESwgOJ #bankruptcy #restructuring #wework #startups #failures

🔴 Case Study: WeWork ⚫ Founding and Objectives WeWork was founded in 2010 as a coworking space provider, aiming to revolutionize the workplace by offering flexible and inspiring office environments for businesses and freelancers. The company’s goal was to become a global leader with its "space as a service" model. ⚫ Business Model WeWork signed long-term leases with property owners and then subdivided these spaces into smaller, flexible office areas for rent. These workspaces were offered to freelancers, startups, and large corporations. The company grew rapidly and raised over $12 billion from various investors, including SoftBank. 🔴 The Story of Failure Despite WeWork's rapid expansion, significant issues emerged regarding the company’s financial stability in 2019. The company was consistently losing money, and its aggressive expansion led to substantial debt. Adam Neumann, the company's founder and CEO, faced severe criticism for his extravagant leadership style and poor financial management. During the planned 2019 IPO, concerns arose among investors about WeWork’s financial transparency and long-term sustainability. The company's valuation plummeted dramatically from a peak of $47 billion to just $8 billion. The IPO was ultimately canceled, and Neumann was forced to resign. ⚫Consequences and Lessons WeWork restructured under new leadership and continues to operate, but it is far from the global giant it once aspired to be. Lessons: Financial Discipline: Strict control of costs and debt is essential during periods of rapid growth. Leadership Integrity: The behavior and decisions of a company's leaders have a profound impact on the company’s reputation and investor confidence. Transparency: Clear and transparent financial reporting is crucial for long-term success in the eyes of investors and the market. WeWork's fall and subsequent restructuring highlight that even the most promising companies can fail if they neglect financial sustainability and leadership responsibility. https://lnkd.in/gJxHbE5T

Smartworks Transforms into Public Company, Paves Way for IPO In a significant milestone, coworking startup Smartworks has taken its first major step towards an initial public offering (IPO) by transitioning into a public company. According to regulatory filings with the Registrar of Companies (RoC), the company has officially changed its name from Smartworks Coworking Spaces Private Ltd to Smartworks Coworking Spaces Ltd. This transition marks a pivotal moment in the company's journey, setting the stage for its future expansion and growth. The decision to go public was solidified when the startup’s shareholders passed a special resolution on June 28. This resolution not only approved the name change but also brought about amendments to the company’s memorandum of association (MoA) and articles of association (AoA). These changes were necessary to align with the new corporate structure and the regulatory requirements of a public company. Smartworks’ decision to turn public is driven by its ambition to access both equity and debt capital markets. The company believes that by becoming a public entity, it will be better positioned to raise the necessary capital for expanding its operations and footprint in the coworking space industry. The move is also indicative of Smartworks' confidence in its business model and its readiness to scale up to meet the increasing demand for flexible and innovative office spaces. #Smartworks #IPOJourney #PublicCompany #CoworkingSpaces #StartupSuccess #BusinessGrowth #MarketExpansion #CorporateMilestone #InnovativeOfficeSpaces #FlexibleWorkspaces #SmartworksIPO #EquityMarkets #DebtMarkets #BusinessTransformation #FutureGrowth #SmartworksEvolution #CoworkingLeader #IndustryInnovation #Entrepreneurship #BusinessSuccess