'Thank you, WeWork' — 2 of the coworking startup's biggest rivals are cashing in after its public meltdown

Two of WeWork's biggest rivals are cashing in on its public meltdown. "We're in a hypergrowth stage at the moment," Mark Dixon, CEO of IWG, told Fast Company. The collapse of WeWork's IPO, the coworking startup's rescue by SoftBank, and its ongoing overhaul is helping the company - which boasts 3,500 global locations to WeWork's 625 - to expand and acquire smaller competitors, he said. WeWork's troubles have "led to more demand for us" and "created an even brighter spotlight on the industry," Dixon said during a trading update this month. "The knowledge of the industry went up by many notches during that whole period."