That's a latte workspace.
Flexible office provider WeWork, owned by the recently renamed The We Company, is prepping a new kind of offering that will function as its own branded coffee shop and marketplace, functioning as "a new town square," the company announced on Tuesday.
In the new offering, both WeWork tenants as well as members of the public will be able to book workspace seats and meeting rooms at variable times ranging from a few minutes to a full day, the company said.
There will also be a full café run by Australia's Bluestone Lane hospitality company. WeWork member companies will be able to sell their own branded goods at a "market stand."
The news was first reported by Financial News.
WeWork is currently restructuring itself as The We Company, with the WeWork name continuing as a business unit. The group will encompass office space provider WeWork, as well as residential property company WeLive, to "build a world where no one feels alone;" and WeGrow, a schools business to "unleash every human's superpowers."
SoftBank Group Corp. (SFTBY) earlier this month reportedly cut back on its plans to invest in WeWork, opting against taking a controlling stake in the operator of co-shared office spaces. SoftBank will put an additional $2 billion into WeWork on top of the $8 billion it already invested, less than the $15 billion to $20 billion it was reportedly considering back in October.
SoftBank is one of the largest tech investors in the world, controlling both its own capital and the Vision Fund, which includes large amounts of Saudi Arabian capital.