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WeWork’s rival Industrious just raised $80 million

Sure, it’s not a $4.4 billion investment like WeWork got from SoftBank, but the $80 million Industrious just nabbed shows the coworking space sector still has room for growth. Industrious raised the $80 million in a round led by Riverwood Capital and Fifth Wall Ventures, reports Axios. What will the company do with the money? … Continue reading “WeWork’s rival Industrious just raised $80 million”

WeWork’s rival Industrious just raised $80 million
[Photo: Nastuh Abootalebi/Unsplash]
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Sure, it’s not a $4.4 billion investment like WeWork got from SoftBank, but the $80 million Industrious just nabbed shows the coworking space sector still has room for growth. Industrious raised the $80 million in a round led by Riverwood Capital and Fifth Wall Ventures, reports Axios. What will the company do with the money? Industrious cofounder and CEO Jamie Hodari says “the name of the game right now is growing the pie.” Part of how rapidly that pie can grow will determine how convincingly Industrious can distinguish itself from WeWork. Hodari’s pitch: WeWork is a mass product whereas his company is a premium product for different types of customers (think YouTube vs. Vimeo).

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WeWork is an honoree on Fast Company’s 2018 World’s Most Innovative Companies list.

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About the author

Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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