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One of WeWork's buildings is profitable, and the company says it's a vindication of its model

One of WeWork's buildings is profitable, and the company says it's a vindication of its model
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Office sharing company WeWork has reported that its flagship London building became profitable in 2017.




This is important because sceptics have always questioned whether WeWork's model of leasing buildings, making them look cool, and renting out desks would work.




Filings for its overall UK business show WeWork's losses nearly tripled, which the firm attributes to its rapid growth.



WeWork's European flagship building in London turned a profit in 2017, in what the fast-growing office sharing startup will see as a vindication of its model.
WeWork filed its first accounts for its building in Moor Place, London, covering the year to December 2017, and shared the details with Business Insider.
The earnings show a big jump in operating profit from 2016, and revenue exceeding administrative expenses for the first time.
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