WeWork Cos., the world’s largest co-working startup, is preparing to enter Argentina and Brazil while scouting potential sites in nearby countries as part of an expansion in Latin America.
The New York-based shared-office startup, which was most recently valued at $16 billion, plans to open two locations in Sao Paulo in June, as well as at least one in Rio de Janeiro by the end of the year, according to Pato Fuks, the company’s regional general manager for Latin America.
WeWork was founded in 2010 and now has 143 locations in 35 cities across the world. The company typically rents office buildings, refurbishes them and then rents out desks or small offices to startups and other customers looking for a place to work with free coffee and beer kegs. It has pushed aggressively for international expansion in the past several years. The company raised $690 million last year for a drive into Asia.