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 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. Founded 2010 in New York, United States by Adam Neumann and Miguel McKelvey, it invests in series A, series C, convertible note, series B, grant, seed round and funding round. Its portfolio companies include Landit, The Wing, Hargol™ FoodTech, Victor Tech Inc, Brave Initiatives, Luna Lights, and Wavegarden. As of April 2020, The We Company has made eight investments. Their most recent investment was on February 26, 2019, when Landit raised $13M.

Timeline

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.

September 24, 2019

WeWork announces that Adam Neumann will step down as CEO.

September 13, 2019

Reports indicate that WeWork is seeking a valuation between $10 and $12 billion in its IPO.

August 14, 2019

WeWork, now known as The We Company, released its IPO prospectus Wednesday morning months after filing confidentially to go public.

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Funded Companies

Company
Description
Industry
Website
Location
CasaOne

CasaOne is a San Francisco-based company.

Landit is a company that provides a career pathing platform.

6 Results
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Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
WeWork funding round, January 2019
3 Results
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Associated investment funds

Investment Fund
Total offering (USD)
Total sold (USD)
Location
Date signed
WeWork Creator Fund
1 Result
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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

Title
Date
Link

WeCrashed: In the Beginning There Was Adam...

29th January, 2020

WeCrashed: Thank God It's Monday

4th February, 2020

WeCrashed: The IPO

19th February, 2020

WeCrashed: Think Crazy

12th February, 2020

WeCrashed: Two Tall Guys From A Commune

29th January, 2020

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Tina Reed
September 3, 2020
FierceHealthcare
Welcome to this week's Chutes & Ladders, our roundup of hirings, firings and retirings throughout the industry. Please submit the good news--or the bad--from your shop, and we will feature it here at the end of each week.
Connie Loizos
September 1, 2020
TechCrunch
This one is unusual: Laird Superfood, a five-year-old, 100-person, Sisters, Ore.-based startup that was cofounded by famed surfer Laird Hamilton and which makes plant-based packaged beverage products, filed today to raise up to $40 million in an IPO. We'd reported on this company early last year in large part because it had attracted backing from [...]
Catherine Shu
July 22, 2020
TechCrunch
Japanese e-commerce giant Rakuten has decided not to renew its contract with WeWork when it expires next month, according to a report in the Japan Times. Rakuten had leased about 700 desks in Tokyo, but is now planning to move employees from its fintech division into its own new offices. Both WeWork and Rakuten declined [...]
Catherine Shu
July 13, 2020
TechCrunch
After aggressive cost-cutting measures, including mass layoffs and selling several of its businesses, WeWork's chairman expects the company to have positive cash flow in 2021. Marcelo Claure, who became WeWork's chairman after co-founder Adam Neumann resigned as chief executive officer last fall, told the Financial Times that the co-working space startup is on target to [...]
Jordan Crook
June 30, 2020
TechCrunch
WeWork, the once $47 billion company that was on the brink of a public offering, has been divesting a great number of its assets as it looks to right the course since releasing its S-1, which exposed its expanding costs, among other things, and sent its valuation plummeting. Today, WeWork is announcing the sale of [...]
Bloomberg
May 18, 2020
@bsindia
Takes hit after writing down the value of investments in WeWork, Uber and others; plans to double buybacks
Reuters Editorial
May 14, 2020
U.S.
The We Company, owner of WeWork, said its first-quarter free cash outflow grew 60% sequentially, according to an email the company's chief financial officer sent to employees on Thursday and reviewed by Reuters.
Joshua Franklin
May 11, 2020
U.S.
A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp <9984.T> over an abandoned $3 billion tender offer for the office space-sharing start-up.
Peter Eavis
May 5, 2020
www.nytimes.com
The lawsuit accuses SoftBank of improperly backing out of an offer to buy shares held by Mr. Neumann, employees and other investors.
Reuters Editorial
May 4, 2020
U.S.
WeWork co-founder Adam Neumann filed a lawsuit against Japan's SoftBank Group Corp and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup's shareholders.
Kirsten Korosec
May 4, 2020
TechCrunch
WeWork co-founder Adam Neumann accused Softbank Group of abusing its power in a new lawsuit filed Monday that alleges breach of contract and breach of fiduciary duty for pulling a $3 billion tender offer for WeWork shares. The lawsuit, filed in Delaware Court of Chancery, included a motion to consolidate his case with a lawsuit [...]
Bloomberg
April 30, 2020
@bsindia
The Japanese company made the announcement in a statement Thursday, citing more than 1 trillion yen of non-operating losses from investments held outside of its $100 billion Vision Fund.
Reuters Editorial
April 30, 2020
U.S.
SoftBank Group Corp <9984.T> said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group&#039;s expected net loss to 900 billion yen.
Reuters Editorial
April 20, 2020
U.S.
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp <9984.T> that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
April 14, 2020
Moneycontrol
Watch this edition of Business Insight to find out whether Oyo will become another WeWork for SoftBank
Jonathan Shieber
April 13, 2020
TechCrunch
The Japanese technology conglomerate SoftBank Group said it would lose a staggering $24 billion on investments made through its Vision Fund and bets on the co-working real estate company, WeWork, and satellite telecommunications company, OneWeb. Ultimately, the company expects the losses to help generate a $7 billion total loss for the technology giant for the [...]
April 13, 2020
Moneycontrol
The Ritesh Agarwal-backed company, once touted by Son to overtake the biggest hotel chains, has frozen operations across the world.
Reuters Editorial
April 7, 2020
U.S.
The special committee on the board of The We Company, which operates office-sharing startup WeWork, has filed a lawsuit against its largest shareholder SoftBank Group Corp <9984.T>, challenging its decision to terminate a $3-billion tender offer.
Jason Cross
April 3, 2020
Macworld
Apple's spending a ton of money to produce its own TV content. Here what you can expect to see, and when.
SHOW MORE

References

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