The US commercial real estate startup WeWork, with a valuation of $47 billion, will expand in Southeast Asia with more office-sharing locations.
The US-based startup made an announcement this week that it will open new offices in Singapore and the Philippines.
The commercial real estate startup offers office work space and services for entrepreneurs, small startups and large enterprises.
“We’re providing spaces for everyone from entrepreneurs setting up their first businesses to multinational conglomerates with thousands of employees,” stated a WeWork statement.
“Included within this are small and mid-sized businesses that aspire to have the amenities available to employees of large companies while capturing the entrepreneurial spirit of those just starting off,” it added.
WeWork cancelled plans to go public after critics questioned its value and immense debt it carried in its books last week.
After the cancellation it requested a $1 billion emergency cash infusion from one of its biggest investors, Tokyo-based Softbank Group Corp.