WeWork Chair Marcelo Claure Says Demand Higher Than Pre-Pandemic Levels: Bloomberg - SOFTBANK GROUP CORP

Office-rental company WeWork Chair Marcelo Claure acknowledged demand had bounced back to higher than pre-pandemic levels, Bloomberg reports.
Claure is also the COO of SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF), which is WeWork’s biggest investor.
WeWork sales were back to pre-pandemic levels, with a robust sales pipeline, a company spokeswoman said.
WeWork estimated revenue of $3.2 billion in FY21 excluding China, at par with FY20 and FY19.
WeWork’s flexible terms will help tap the companies with flexible schedules and those reluctant to sign long-term leases.
WeWork is seeking an initial public offering with a new CEO, Sandeep Mathrani, on the Nasdaq via a $9 billion special-purpose acquisition company (SPAC) merger with BowX Acquisition Corp (NASDAQ: BOWX).
WeWork failed to conduct an IPO two years back after investors lost confidence in its then CEO, Adam Neumann, and its huge $47 billion valuations.
Price action: BOWX shares closed 4.96% higher at $13.12 on Tuesday.

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