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WeWork

WeWork

A platform in New York that focuses on providing office space, mail and package handling, conference rooms, weekly events, high-speed internet and community networking to customers.

WeWork is a company that offers a platform which focuses on providing office space, mail and package handling, conference rooms, weekly events, high-speed internet and community networking to customers.

The company was founded in 2010 by Adam Neumann and Miguel McKelvey. WeWork invests in series A, series C, convertible note, series B, grant, seed round and funding round. Its portfolio include Landit, The Wing, Hargol™ FoodTech, Victor Tech Inc, Brave Initiatives, Luna Lights, and Wavegarden. WeWork has made eight investments as at April 2020.

WeWork was founded with the vision to create environments where people and companies can come together and carry out their best work. Since opening its first location in New York City, WeWork has grown into a global workplace provider that is committed to delivering flexible solutions, inspiring safety-focused spaces, and unmatched community experiences.

Today, WeWork is constantly reimagining the way workplace can help everyone, from freelancers to Fortune 500 companies, helping businesses and their employees to become more motivated and productive. The mission of WeWork’s Office of Inclusion is to create a workplace that facilitates inclusion and fosters diversity.

Timeline

May 27, 2021
WeWork completes a merger with BowX Acquisition Corp.

As CEO, Mr. Neumann spent heavily buying companies in a bid to expand WeWork's offerings beyond office space.

April 20, 2021
WeWork announces that it will begin accepting cryptocurrencies as a form of payment and plans to hold the digital assets on its balance sheet.
March 2021
WeWork agrees to go public through a merger with BowX Acquisition Corp, a special purpose acquisition company, in a deal that valued it at $9B.
May 14, 2020
WeWork reports improved free cash flow in first quarter.
February 20, 2020
WeWork announced a new COO in its first major hire under new CEO.
February 1, 2020
WeWork parent company names real estate veteran, Sandeep Mathrani, as their new CEO.
October 14, 2019
WeWork announces it prefers the option of a near $5 billion financing package led by JPMorgan Chase & Co to selling a controlling stake to Japan's SoftBank Group Corp.
October 10, 2019
WeWork announces it is set to open two new locations in Singapore in 2019.
October 3, 2019
WeWork announces layoffs to staff.
September 30, 2019
WeWork's new leaders formally suspends a planned stock market.
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Funding rounds

Associated investment funds

People

Name
Role
LinkedIn

Adam Neumann

Co-Founder

Miguel McKelvey

Co-Founder

Rebekah Neumann

Co-Founder

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Erin Griffith
October 9, 2021
www.nytimes.com
Average investors were not able to get in on the last decade's start-up boom in private markets. Once that seemed unfair. Now it looks lucky.
August 24, 2021
mint
As companies delay their plans for returning to the office, many are taking spaces from WeWork, Industrious and others
Peter Bradshaw
August 11, 2021
the Guardian
Adam Neumann's vision of a communal, creative, snack hub-filled future comes crashing down in a fake-it-till-you-make-it fable
August 9, 2021
mint
Alliance aims to help landlords and tenants navigate returning to the office
Shira Ovide
August 3, 2021
www.nytimes.com
Unscrupulous, boundary-pushing executives seem to be an inescapable part of the most exciting technology.
Natasha Mascarenhas
July 24, 2021
TechCrunch
As college students at Berkeley, Spencer Kimball and Peter Mattis created a successful open-source graphics program, GIMP, which got the attention of Google. The duo ultimately joined Google, and even personally got kudos from Sergey Brin and Larry Page. Kimball and Mattis quickly rose to prominence within the company, and then chose to leave it [...]
Natasha Mascarenhas
July 21, 2021
TechCrunch
Hello and welcome back to Equity, TechCrunch's venture capital-focused podcast, where we unpack the numbers behind the headlines. For this week's deep dive, Alex and Natasha took a trip down memory lane to the great WeWork saga. We had WSJ reporter and author Eliot Brown on the show to chat about his new book, The Cult of We, written [...]
June 21, 2021
mint
The global co-working company said Monday that it sold enough desks in April and May and had fewer cancellations to record its best net desk sales since September 2019.
Catherine Shu
June 17, 2021
TechCrunch
"People are the backbone of any organization. People are more important than the product. Without people, you don't have a product," says Joseph Ifiegbu, who is Snap's former head of human resources technology and also previous lead of WeWork's People Analytics team. Ifiegbu's startup, called eqtble, wants to give HR teams the same kind of [...]
Supantha Mukherjee | Reuters
June 10, 2021
@bsindia
Verizon has been trialing private 5G with several customers and has partnered with the likes of Microsoft and Amazon
Research and Markets
June 9, 2021
www.prnewswire.com:443
/PRNewswire/ -- The "Coworking Space Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering....
Kate Duffy
May 30, 2021
Business Insider
As firms redesign offices for the return to work, WeWork says it is introducing touch-free coffee makers that work by scanning a QR code.
May 27, 2021
mint
Shared-office company gave Adam Neumann $245 million stock deal to clear way for listing
Edward Helmore in New York
May 27, 2021
the Guardian
Neumann received $245m in company stock and $200m in cash earlier this year as part of a renegotiation with investor SoftBank
Reuters
May 21, 2021
@bsindia
WeWork in March agreed to go public through a merger with BowX Acquisition Corp, a special purpose acquisition company, in a deal that valued it at $9 billion
Mark Sweney and Julia Kollewe
May 21, 2021
the Guardian
Move to flexible working during Covid pandemic drives 30% fall in customers at office-sharing company
Kate Duffy
May 21, 2021
Business Insider
Ousted WeWork cofounder Adam Neumann's $500 million settlement with WeWork contributed to the company's huge losses.
BBC News
May 21, 2021
BBC News
The troubled office-sharing startup's business was hit particularly hard by the coronavirus pandemic.
Madison Hoff
May 18, 2021
Business Insider
Julia Lamm from PwC said young workers can benefit from observing coworkers or tagging along in meetings with managers when they're in an office.
Avery Hartmans
May 17, 2021
Business Insider
WeWork CEO Sandeep Mathrani said he didn't intend to "cast a negative light" on those who are working from home.
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References

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