Our Cofounder Chats With Business Insider on WeWork's IPO

Coworking continues to skyrocket in popularity and many people are anxiously awaiting WeWork’s looming IPO, which could be as early as this week.

Person browsing for office space on their phone using the Truss marketplace

Our cofounder, Tom Smith, recently spoke with Business Insider on this news and you can read the full article here

Our marketplace is the only one in commercial real estate where you can compare coworking space, flex space and traditional office space all in one place with 100 percent price transparency.  To underscore the demand for coworking space, we looked at how many more coworking spaces have been added to our platform. Just the last year, we had approximately 69 different coworking providers listing their centers on our online marketplace. And this year, that number is already past 256 coworking providers, including WeWork, Industrious and more.  

"A lot of people don't talk about that and aren't really aware of how many other competing coworking and [flexible lease] concepts are out in the market competing with WeWork that did not even exist a year ago," Smith told Business Insider. 

On our site, we’re able to see what small business owners and entrepreneurs favorite (or save) as their preferences as they search and tour the different spaces on our platform.  Our online marketplace is the only marketplace where you can compare coworking spaces vs. traditional office space at the same time.

Since January 2018, WeWork spaces have made up about 21 percent of coworking favorites on our marketplace. This has stayed fairly steady over time as well. Additionally, coworking favorites as a whole have increased over time, which many can say speak to the ongoing rise and demand for coworking. Plus, in the last 90 days, 25 percent of office space favorites were for coworking, while before that, 19 percent of favorites were for coworking. We continue to add more WeWork locations to our platform. We currently have 70 WeWork centers and just a year ago, we had just 16 WeWork coworking centers. 

“For now, WeWork is kind of like the Kleenex of the coworking market,” Smith told Business Insider. “It's the brand potential customers recognize and seek out. It also has a big advantage from its huge network of spaces; when they travel, its customers can often find a WeWork office in which to work if they need one.”

To learn more about our online marketplace, you can start your search, tour and lease process here