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A comment on WeWork says will file to withdraw IPO. Parent comment

Re:WeWork says will file to withdraw IPO by bpt3 on Tuesday October 01, 2019 @10:09AM (#21125473)
As a former WeWork tenant, their value proposition to customers is that they provide office space quickly and without any long term obligation in convenient, trendy locations. They're also very eager to beat competitors on price in my personal experience.

Since it's very easy to set up a competitor (at least in my area, since numerous knockoffs have been created in the last few years) their margins are low at best, and they have almost no customer lock-in, I have no idea what their value proposition is for investors.

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Re:WeWork says will file to withdraw IPO by hiharryhere on Tuesday October 01, 2019 @07:25PM (#21131989)
I'm not sure about the price-beating anymore.

A few days ago I moved into a WeWork clone called JustCo. The spaces are much larger, look virtually identical and are in a neighbouring building. Price difference per month was $2300 vs $1600 + a month free. WeWork's best offer was 5% off if we signed for 12 months. No free beer here, but I've got a beer budget of $700 a month with the savings.

It seems WeWork's sales guys here in Sydney have very little freedom to discount.

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