...IWG’s current market cap in London is £3.64 billion ($4.5 billion), and if the company pursues this plan, its US business could be worth as much as £3 billion ($3.7 billion) as a standalone franchise. IWG generated about 41% of its $3.4 billion of revenue in the Americas last year, according to data compiled by Bloomberg.
Here’s what’s interesting: IWG is larger than WeWork in terms of space. The company has ~60 million square feet (5.6 million square meters) globally, while WeWork had 45 million square feet as of March. WeWork’s largest backer SoftBank has valued the company at $47 billion,
...As I noted on Friday, the co-working market is out of control. There’s Convene, Knotel, Industrious, Spacious, The Yard, The Wing, and Alley — all smaller rivals with plenty of venture capital to go around. I’m not convinced that any of them, including IWG, will challenge WeWork’s business in any real way, but like Dixon said, they all stand to reap the benefits if its IPO goes well.
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