WeWork competitors form alliance

Grind and Knotel to refer customers to each other

Sep.September 21, 2017 02:00 PM

From left: 419 Park Avenue South, Amol Sarva and David Beale

Flexible office startups Knotel and Grind formed an alliance as they try to take on WeWork, the companies announced Thursday.

From now on the co-working company Grind will refer larger firms and members that want to move out of its spaces to Knotel, which caters to companies in search of a serviced office on a flexible lease. In return, Knotel will refer freelancers and smaller firms, which it generally doesn’t cater to, to Grind. As part of the deal, Knotel is taking over Grind’s location at 419 Park Avenue South.

The agreement comes a month after WeWork announced a $4.4 billion investment from Japanese conglomerate SoftBank and aggressive expansion plans in Asia, putting pressure on its competitors. Two weeks ago, Knotel parked a bus advertising its services outside WeWork’s Headquarters On West 18th Street.

Knotel also announced that it signed a 10-year, 25,000-square-foot lease at Moinian Group’s 55 West 21st Street, bringing its footprint in Manhattan above 400,000 square feet. Skylight Leasing’s Elie Reiss represented the tenant, while Moinian was represented in-house.

Knotel, founded by Amol Sarva, raised $25 million in a Series A round in February.

Grind shuttered its location at 1412 Broadway in the Garment District earlier this year.

Related Articles

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork CEO Adam Neumann (Credit: Getty Images and iStock)

WeWork’s side businesses are fizzling

Sarah Pontius (Credit: Union College)

Another head rolls at WeWork

The document threatened a lawsuit against WeWork at a time when it was still in the midst of rapid growth and fundraising (Credit: Getty Images)

Inside WeWork’s $2M+ settlement over claims of drug use, sexual harassment

The Lord & Taylor building at at 424-434 Fifth Avenue and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon mulls buy of WeWork’s Lord & Taylor building

Softbank CEO Masayoshi Son and Elliott Management Corp. CEO Paul Singer (Credit: Getty Images)

Post-WeWork debacle, SoftBank will map out strategy to investors

WeWork COO Shyam Gidumal (Credit: Getty Images)

WeWork announces Shyam Gidumal as new COO

Adam Neumann and some of the properties, Museum Place and 225 West Julian in San Jose 

Adam Neumann no longer has a vision for San Jose