New York-based provider of shared workspace, WeWork, plans to enter India, its founder Adam Neumann said at the Start Up India event.
“We want to build a local business in India and hire local management … We will launch here soon…In India, we will build a local brand with a global playbook, ” Mr. Neumann said according to The Hindu. WeWork provides services mainly for entrepreneurs, freelancers, startups and small businesses.
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The company manages 17 million square feet of office space in about seven countries across the world. It is the 11th most valued startup in the world. Mr. Neumann, who also met Prime Minister Narendra Modi on Friday, said: “WeWork is my fifth business, I had tremendous failures in the first three businesses… Failing is part of learning and part of business.” “I have met two types of entrepreneurs. Ones that are building business, thinking about business model and what they are doing and others who are asking about valuations and money. This is not about raising money or chasing the money, ” said the 36-year old entrepreneur, who is on his first visit to India.
“This is about sustainable business models that brings together what you love with intention of actually doing something meaningful for the world. Bring the two together and you have an unbelievable business.
“I have raised money. If your business is the right business raising money will not be a difficulty. If you are running all over and no one wants to give you money, maybe you should look at the business model.”
