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Industries / Coworking

Coworking. Cost: rent paid on desks and offices nobody fills.

Grip reads member contracts, deposits and visa records, centre by centre, and names the rent paid on space nobody bills, in AED.

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USD 800 millionYearly rent one global coworking company cut in 2024 by leaving more than 170 loss-making locations.
Proven at WeWork

Source: WeWork Inc., Form 8-K of 12 June 2024, Exhibit 99.2 (press release on emergence from Chapter 11). On emerging from Chapter 11 in June 2024 WeWork said it had renegotiated over 190 leases, exited over 170 unprofitable locations, cut annual rent and tenancy expense by over $800m and total future rent by more than $12bn (over 50%), and equitised $4bn of debt.

3 workflows

Where we start.

9 of 20 changes other coworking companies made. Open one to see the company.

01

Cash and working capital

Member deposits weighed against fit-out cash, landlords sharing the build cost.

ReadsMember deposit ledger with refund termsLandlord deposit registerLease and management agreements by centreFit-out spend and landlord contributions by centre
Compare deposits members can take back within a month with cash locked in fit-outs for years.
Proven at International Workplace

Source: International Workplace Group plc, Annual Report and Accounts 2024.

Sign each new centre as a revenue-share or management deal with the landlord, so the landlord funds the fit-out.
Proven at IWG

Source: IWG plc, Annual Report and Accounts 2025.

Sell a country's centres to a local partner, and keep the brand fees.
Proven at IWG

Source: IWG plc, Annual Report and Accounts 2019.

02

Operations

Each centre timed from lease to first invoice, each client to first visa.

ReadsMember lists of closed or relocated centresNew contracts signed in other centres after the closureApplication log with datesAuthority approvals, visa application records
Before closing a centre, count how many members followed the last move, and put that figure in the business case.
Proven at WeWork

Source: WeWork Inc., Form 8-K of 7 November 2023, Exhibit 99.2 (restructuring cleansing materials and preliminary business plan).

Time each new client from deposit to licence issued to first visa stamped, and chase anyone near the 90-day limit.
Proven at DMCC

Source: DMCC (Dubai Multi Commodities Centre Authority), Business setup packages page (2026).

Time each new centre from lease signature to first member invoice, and price every month of rent paid before it.
Proven at Smartworks Coworking Spaces

Source: Smartworks Coworking Spaces Limited, Annual Report 2025-26 (2026).

03

Sites, assets and leases

Every site ranked by profit and by fullness against centres its age.

ReadsLicence packages and visa allowance per clientVisa issuance recordsRent and term per locationRevenue and cost per location
Compare visas each client is allowed with visas they actually use, and offer upgrades or check-ins.
Proven at DMCC

Source: DMCC (Dubai Multi Commodities Centre Authority), Business setup packages page (2026).

Rank every leased site by its profit, and renegotiate or leave the weakest.
Proven at WeWork

Source: WeWork Inc., Form 10-K for fiscal year 2022 (filed 29 March 2023).

Compare each centre's occupancy with centres of the same age, so a slow new site shows up in month 4.
Proven at WeWork

Source: WeWork Inc., Form 10-K for fiscal year 2022 (filed 29 March 2023).

The money at stake.

Public figures, each with its company and year. An estimate is marked.

USD 47.2 billion

A global flexible workspace company's future rent owed on its leases, mid 2019.

Proven at The We Company

Source: The We Company (WeWork), Form S-1 registration statement filed 14 August 2019. WeWork disclosed USD 47.2 billion of future undiscounted minimum lease payments under signed leases (at 30 June 2019) against USD 4.0 billion of committed revenue backlog from members, before it later filed for bankruptcy.

USD 584 million

A global workspace group's customer deposits held at end 2024.

Proven at International Workplace

Source: International Workplace Group plc, Annual Report and Accounts 2024. IWG held $584m of customer deposits and $525m of deferred revenue at 31 December 2024, which it cites as non-cash or customer-funded items inside its net current liabilities.

Grip at work

What your Grip looks like.

A sample company, in AED. Yours is built from your own files.

Three numbers for the whole company, with the chart under each. Sample figures.

What we stand on
01Money first

Every project shows the revenue, cost or cash it is worth, in your currency, from your own files, before you agree to it.

02Every project has proof

Every project runs on a client's Grip, was designed on our own Grip, or comes from a play a named company published, with the document we read it in.

03Your systems as they are

We read the systems you already use. Nothing to move, replace or clean up first.

04Value and money found in 2 weeks

A two-week pilot on one department, your first project live and its money delivered by Day 30, then one fixed monthly fee.

Questions

What coworking companies ask first.

Three answers, each with one public figure, its company and its document.

Question 1How can AI reduce empty desks in coworking?

AI reads member contracts, deposits and visa records, centre by centre, and names the rent paid on space nobody bills, in AED. For scale: USD 800 million, yearly rent one global coworking company cut in 2024 by leaving more than 170 loss-making locations (WeWork).

USD 800 millionYearly rent one global coworking company cut in 2024 by leaving more than 170 loss-making locations.
Proven at WeWork

Source: WeWork Inc., Form 8-K of 12 June 2024, Exhibit 99.2 (press release on emergence from Chapter 11). On emerging from Chapter 11 in June 2024 WeWork said it had renegotiated over 190 leases, exited over 170 unprofitable locations, cut annual rent and tenancy expense by over $800m and total future rent by more than $12bn (over 50%), and equitised $4bn of debt.

Question 2What does an AI transformation programme in coworking start with?

It starts with the revenue, cost and cash you are losing today, read from the systems you already use. One workflow goes first, usually cash and working capital, read from member deposit ledger with refund terms and landlord deposit register. For scale: USD 47.2 billion, A global flexible workspace company's future rent owed on its leases, mid 2019 (The We Company).

USD 47.2 billionA global flexible workspace company's future rent owed on its leases, mid 2019.
Proven at The We Company

Source: The We Company (WeWork), Form S-1 registration statement filed 14 August 2019. WeWork disclosed USD 47.2 billion of future undiscounted minimum lease payments under signed leases (at 30 June 2019) against USD 4.0 billion of committed revenue backlog from members, before it later filed for bankruptcy.

Question 3How fast do coworking companies see results from AI?

A two-week pilot on one department finds the value and money in your own data before you commit. Your first project goes live, and its money is delivered, by Day 30. For scale: USD 584 million, A global workspace group's customer deposits held at end 2024 (International Workplace).

USD 584 millionA global workspace group's customer deposits held at end 2024.
Proven at International Workplace

Source: International Workplace Group plc, Annual Report and Accounts 2024. IWG held $584m of customer deposits and $525m of deferred revenue at 31 December 2024, which it cites as non-cash or customer-funded items inside its net current liabilities.

The Perspace symbol resting on the water at blue hour

Start with one workflow.

Tell us what you want to fix. In a two-week pilot we find the value and money before you commit.

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