Big companies are fueling WeWork’s growth

Companies with more than 1,000 employees — like Microsoft and Salesforce — now make up 20 percent of membership and 30 percent of sales.

Enterprise companies — which the co-working company defines as companies with 1,000 or more workers — now make up 20 percent of WeWork’s membership and 30 percent of its monthly revenue, according to data WeWork shared with Recode. WeWork only started its enterprise product in May of 2016 and enterprise rates were negligible before then.

Major enterprise clients include tech companies like Microsoft and Salesforce but also more traditional blue chips like Bank of America and HSBC.

The number of enterprise companies leasing space from WeWork almost doubled, or grew 90 percent in July of this year compared with the same month last year. And the number of seats, or workers enterprise companies had working at WeWork grew nearly five times, or 360 percent, meaning that existing corporate clients are taking more real estate...

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RSK: I was surprised that a partner of mine came in the other day to tell me about similar startups and that he has never heard of this before...he obviously does not read my Cirex News ha.