As WeWork, Farfetch and Eve Sleep flounder, is retail’s tech bubble about to burst?
With the travails of technology-based companies such as WeWork and Uber dominating business headlines across the globe, Retail Week looks at whether the UK retail market is trapped in its own tech bubble.
For more than a decade now, the growth of the global economy has been twinned inexorably with the rapid rise of a number of technology companies. Many of those, such as Twitter, Facebook and Amazon, have gone on to become global monoliths worth billions. In the process, their rise sparked a decade-long deluge of public and private equity investment in technology.
However, the next generation of tech-driven businesses has started to run into trouble. The highest-profile and most public of these has been WeWork, the office rental company that claims to be a tech firm. The business was forced to abandon its IPO earlier this year after lukewarm interest from investors who questioned its route to profitability.
Already have an account? Sign in here