Knotel expands European footprint with acquisition of Paris co-working company

The purchase of Deskeo gives Knotel the largest market share in the French Capital

TRD NATIONAL /
Jan.January 21, 2019 12:00 PM

Amol Sarva in Paris (Credit: Wikipedia and Unsplash)

Knotel has acquired the largest co-working firm in Paris, giving the company a dominant market share position in the French capital.

The company, Deskeo, will rebrand under Knotel, CEO Amol Sarva told TechCrunch. The acquisition now gives Knotel a presence 10 times the size of WeWork in Paris, Sarva said.

Knotel has looked to Europe for making headway on its global expansion, and last year acquired Ahoy!Berlin, a co-working firm in the German capital.

The company was founded in 2016 by Amol Sarva and Edward Shenderovich, Knotel has pitted itself as a viable alternative to WeWork. But the firm, with a portfolio of 2 million square feet across 100 spaces and $160 million in funding, still has a distance to cover. By comparison, WeWork has raised over $10 billion and leases more than 5 million square feet in New York City — making it the largest office tenant in New York.

Knotel’s announcement follows an expansion by the firm in New York City, after it signed 160,000 square feet over the past month. The office space provider has locations in Los Angeles and San Francisco and London, and has plans to open in Brazil. [TechCrunch] — David Jeans


Related Articles

arrow_forward_ios
Rendering of the Tokyo Tokiwabashi project (Courtesy of Mitsubishi)

Mitsubishi unveils design for Japan’s tallest skyscraper

Mitsubishi unveils design for Japan’s tallest skyscraper
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
The proposal to rezone Industry City in Brooklyn was unveiled five years ago, but collapsed under political pressure (Courtesy of Industry City)

Here’s how Industry City’s controversial rezoning unraveled

Here’s how Industry City’s controversial rezoning unraveled
331 Park Avenue South (Google Maps)

Investors accuse Prodigy Network of fraud at troubled Park Ave development

Investors accuse Prodigy Network of fraud at troubled Park Ave development
731 Lexington Avenue and 410 East 61st Street (inset) with Vornado's Steve Roth (Googel Maps; VNO)

Home Depot eyes former Bed Bath & Beyond space on First Ave

Home Depot eyes former Bed Bath & Beyond space on First Ave
Ian Schrager and the Pulic Hotel at 215 Chrystie Street (Getty; Google)

$60M mezz loan on Ian Schrager’s Public Hotel is for sale

$60M mezz loan on Ian Schrager’s Public Hotel is for sale
J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

J.C. Penney to keep Bay Shore outpost open for now

J.C. Penney to keep Bay Shore outpost open for now
Signature Bank CEO Joseph DePaolo and New York Community Bank CEO Joseph Ficalora (Photos via Getty; Facebook; iStock)

NYC’s multifamily lenders see shares tumble in 2020

NYC’s multifamily lenders see shares tumble in 2020
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...