WeWork built its name by offering month-to-month leases to startups. Now it has introduced a year-long lease in four buildings that it plans to open soon in Manhattan.
The move, according to The Information, is intended to attract larger clients.
Year-long leases, however, also come with a discount. WeWork, whose investors value the company at $16 billion, recently cut its 2016 profit projections by 78%.SK