A Bloomberg report citing people aware of the development, said that the company is in talks to buy around 70% of WeWork India at a valuation of about $2.75 Bn. WeWork India was launched in September 2017 as a brand franchisee controlled by Buildcon LLP, which is owned by real estate billionaire Jitu Virwani and his son Karan Virwani.

The father-son duo share the responsibilities of Embassy Group and WeWork India, respectively.

The company doubled its losses last year to $1.93 Bn, while revenue also more than doubled to $1.82 Bn. The member base at WeWork India has grown to over 25K members in 21 open locations across Bengaluru, Delhi and Mumbai within 18 months of its launch.

The importance of WeWork India comes as the tech startup unicorns in the US face struggle to stay still in the market and even attract more investors.

Another link between Uber and WeWork is its major backer- SoftBank Group.

The competition for WeWork India is hot with heavily-funded startups such as OYO, 91springboard, Sequoia-backed Awfis among others.

Even if WeWork believes its Indian unit can help its journey of going public, the hot sector has a lot of investor interest as well as skepticism.