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

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.

July 30, 2019

WeWork announces that it will acquire SpaceIQ, a workplace real estate management and operations platform.

June 2019

WeWork buys Waltz, a company sells building access software.

April 29, 2019

WeWork, valued at $47 billion in January, raises $8.4 billion in a combination of debt and equity funding.

April 29, 2019

WeWork announced April 29 that it filed confidentially in late December to go public.

The company's revenue doubled in 2018, to $1.8 billion. By that measure, the company earned $467.1 million last year, double what it earned in 2017.

April 3, 2019

WeWork acquires Managed by Q and will remain as a wholly owned separate entity under the leadership of current CEO, Dan Teran.

January 2019

WeWork secures a $47 billion valuation in a private fundraising.

January 2019

SoftBank privately values WeWork at $47 billion.

January 2019

We Company receives an investment of $47 billion from SoftBank.

2019

SoftBank is planning to pledge an extra $1 billion or even more to alter warrant agreement terms it struck this year with WeWork

2019

WeWork invests $32 million into Laird Superfood

September 2018

WeWork buys Teem, a company that sells room booking software.

2018

WeWork loses $1.9 billion in a abandoned IPO.

July 2017

WeWork raises a $760,000,000 series G round.

2017

WeWork’s 2017 revenue $886 million

2010

WeWork Founded

WeWork is founded by Adam Neumann and Miguel McKelvey in 2010.

2010

Founded

Funded Companies

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6 Results
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Funding rounds

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Investment
3 Results
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People

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Role
LinkedIn

Adam Neumann

Co-Founder

Miguel McKelvey

Co-Founder

Rebekah Neumann

Co-Founder

Further reading

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Documentaries, videos and podcasts

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Companies

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News

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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.
Yuri Kageyama
April 2, 2020
CTVNews
Japanese technology company SoftBank Group Corp. called off its offering of up to US$3 billion worth of shares in office-space rental venture WeWork, though it remains committed to its $5 billion bailout of the financially troubled company.
Sam Nussey
April 1, 2020
U.S.
SoftBank Group Corp said on Wednesday it has appointed former Goldman Sachs banker Taiichi Hoshino as head of a new investment planning department, as the group increases oversight of its tech bets battered by volatile markets.
Reuters Editorial
March 30, 2020
IN
Social media platform Meetup said on Monday that shared-office operator WeWork had sold the company to a group of investors led by AlleyCorp, which funds companies in New York.
Herbert Lash
March 26, 2020
U.S.
WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had on hand at year-end 2019 is sufficient to execute its five-year plan, including managing the challenges posed by the recession-bearing coronavirus crisis.
Jason Cross
March 25, 2020
Macworld
Apple's spending a ton of money to produce its own TV content. Here what you can expect to see, and when.
Peter Eavis
March 24, 2020
www.nytimes.com
The shared office space company is offering its workers $100-a-day bonuses to go to its locations amid the coronavirus crisis.
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References

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