WeWork Chair Marcelo Claure Says Demand Higher Than Pre-Pandemic Levels: Bloomberg

Office-rental company WeWork Chair Marcelo Claure acknowledged demand had bounced back to higher than pre-pandemic levels, Bloomberg reports.
Claure is also the COO of SoftBank Group Corp SFTBY SFTBF, which is WeWork’s biggest investor.
WeWork sales were back to pre-pandemic levels, with a robust sales pipeline, a company spokeswoman said.
WeWork estimated revenue of $3.2 billion in FY21 excluding China, at par with FY20 and FY19.
WeWork’s flexible terms will help tap the companies with flexible schedules and those reluctant to sign long-term leases.
WeWork is seeking an initial public offering with a new CEO, Sandeep Mathrani, on the Nasdaq via a $9 billion special-purpose acquisition company (SPAC) merger with BowX Acquisition Corp BOWX.
WeWork failed to conduct an IPO two years back after investors lost confidence in its then CEO, Adam Neumann, and its huge $47 billion valuations.
Price action: BOWX shares closed 4.96% higher at $13.12 on Tuesday.