Rentberry Wants to Buy WeWork Out of Bankruptcy

<p>Rentberry&comma; an operator of a property rental and management platform based in San Francisco&comma; has unveiled plans to explore the acquisition of WeWork&comma; the NY-based flexible workspace provider that recently filed for Chapter 11 bankruptcy&period;<&sol;p>&NewLine;<p>Rentberry says the move is backed by key venture capital funds&comma; including Berkeley Hills Capital&comma; and wants to combine WeWork&&num;8217&semi;s coworking spaces with Rentberry&&num;8217&semi;s innovative Flexible Living concept&period;<&sol;p>&NewLine;<p>WeWork was once valued as much as &dollar;40 billion and received billions of dollars in investment from Japan&&num;8217&semi;s Softbank Corp&period; But the pandemic and declining office use along with a glut of space led to its collapse and bankruptcy last year&period;<&sol;p>&NewLine;<p>Rentberry feels that the global workforce is increasingly seeking flexibility in their professional and personal habitats&period; WeWork&&num;8217&semi;s infrastructure and community-oriented model will complement Rentberry&&num;8217&semi;s Flexible Living concept&comma; which combines innovative technology with real estate to offer tenants the ability to rent furnished properties without security deposits for mid-term durations of 1 month to 1 year&comma; globally&period; This potential merger promises to create immense synergy that redefines the landscape of coworking and co-living spaces&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We are on the cusp of a revolution in how people work and live&comma; demanding unprecedented flexibility&comma;&&num;8221&semi; said the Rentberry CEO&period; &&num;8220&semi;By aligning WeWork&&num;8217&semi;s expansive coworking ecosystem with our Flexible Living concept&comma; we aim to create a global network of spaces that support a dynamic&comma; mobile lifestyle&comma; catering to the needs of today&&num;8217&semi;s professionals&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The combination of Rentberry&&num;8217&semi;s technology and innovative approach to property management with WeWork&&num;8217&semi;s global presence and coworking model has the potential to set new standards for flexibility&comma; convenience&comma; and community engagement in the industry&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Imagine a world where you can move seamlessly between living and working spaces tailored to your needs&comma; location&comma; and schedule&period; This is the vision we are working towards&comma; and WeWork&&num;8217&semi;s assets and ethos align perfectly with this goal&comma;&&num;8221&semi; added the Rentberry CEO&period; &&num;8220&semi;Our combined efforts could significantly enhance the value we offer to individuals and businesses alike&comma; making flexible living and working the norm rather than the exception&period;&&num;8221&semi;<&sol;p>&NewLine;<p>In this process&comma; Rentberry has partnered with leading VC funds&comma; including Berkeley Hills Capital&comma; and is represented by Dentons LLP&period; The company is collaborating with WeWork&&num;8217&semi;s advisors&comma; PJT Partners&comma; to submit the acquisition offer during the week of <span class&equals;"xn-chron">February 19th<&sol;span>&period;<&sol;p>&NewLine;