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Founded in 2013, New York-based Industrious raised a total of $522 million in funding from investors, including Riverwood Capital and Fifth Wall Ventures. The news of its acquisition at the $800 million-plus valuation is particularly interesting considering that competitor WeWork, once valued at $47 billion, filed for bankruptcy in November 2023. It emerged out of bankruptcy in the summer of 2024.
In a blog post on Industrious’ website, Hodari wrote: “When we started this company, it was a lark. It was a fun idea at the right time. Now, in a world pulling us towards isolation and the narrow ten-inch frame of our phone screen, it’s something closer to a calling: a place where people can get out of their home and impact the world around them, be exposed to new people and ideas, and be treated with kindness. That calling is why Industrious is joining CBRE, the largest real estate firm in the world. We’ll have the resources to offer our members more, and the reach to offer more people the chance to experience Industrious.”
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