bengaluru wework the new yorkbased office rental startup valued at 15 billion recently is in talks with bengalurubased developer embassy group for a joint venture to enter india said people familiar with the matter billionaire jitu virwaniled embassy one of indias largest commercial real estate owners is seen as a frontrunner even though the red hot american startup is still in dialogue with oberoi constructions and radius developers in mumbai and dlf in the national capital region wework could opt for a master joint venture with embassy or explore regional pacts with multiple developers a decision it would take soon sources added wework the shared office space provider to small businesses and entrepreneurs takes up office space from big landlords and then sublets it on shorter leases it then arranges for a range of services for its tenants connected through a digital app wework cofounded by adam neumann and miguel mckelvey and considered the fastest growing office tenant in new york counts fidelity investments and t rowe price among its marquee list of investors the fiveyearold company which has disrupted the traditional real estate sector has spaces across 67 locations in the us europe and israel and is rapidly expanding into new markets it is currently working on a coliving platform as part of its business development plans in india wework is likely to initially focus on bengaluru mumbai and the national capital region it will have multiple locations in each of these cities and would look to take up 50000100000 sq ft wework will work with the developers and landlords charging a management fee for its services private equity giant blackstonebacked embassy declined to comment on speculation when contacted an emailed questionnaire to wework remained unanswered at the time of going to press demand for office space in bengaluru has risen over the years helped by consumption from major startups such as amazon flipkart and ola which have been taking millions of square feet on lease as they expand but for smaller startups a coworking space provides cheaper options bengaluru often called the countrys startup capital recorded its highest ever office space leasing activity during 2015 the city took in net leasing space of 123 million sq ft surpassing the previous record of 113 million sq ft set in 2007