WeWork India unveils virtual offices for biz, self-employed
BENGALURU: WeWork India has launched a service called Virtual Office for businesses and selfemployed individuals where they can use one of its office addresses for their official communication or government formalities, it said on Monday.
This comes during a time when both traditional offices and co-working centres have been impacted by the second wave of the pandemic and physical occupancy levels have been low even after some recovery between January and March.
The flexible workspace provider will help them with a professional address at a central business district where its 35 workspaces are located, as well as in non-metros, which are now in need of more office space. This will help facilitate wider networking opportunities and expansion of talent base without incurring a large expenditure.
The service, which was running in its pilot phase, has already seen more than 100 companies setting up their virtual offices.
“At WeWork, we are constantly working towards anticipating and creating workspace solutions that suit varied business requirements. With the launch of WeWork Virtual Office, we are providing a distinctive option to businesses and individuals that need a prime office address along with a host of other benefits. Facilitating this with an entirely online process is another step in enabling ease of work and introducing them to our member first culture with which we welcome them at
WeWork,” said Vinayak Parameswaran, head of corporate finance and innovation at WeWork India.
The Virtual Office product is offered at ₹4,500 per month for a six-month membership, ₹4,000 per month for a year’s membership and ₹3,000 per month for a 24-month membership.
Some of the benefits bundled into the offering include mail handling and storage facilities, ability to use credits to access meeting rooms or to use them as day passes across the entire WeWork network in India. These benefits can be availed by any employee in these companies as well.
WeWork would also look at the expansion of the service across smaller cities.
In April, WeWork raised ₹200 crore in a mix of debt and equity. Last year, WeWork Global had committed $100 million in its Indian arm.