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WeWork Summary

Overview

WeWork (also known as The We Company) is a provider of shared workspaces for technology startup subculture communities, and services for entrepreneurs, freelancers, startups, small businesses, and large enterprises. The company offers office space with facilities and services like high-speed internet, printers, free refreshments, and private phone booths, enabling startups, entrepreneurs and small businesses to collaborate and share experiences.

TypePrivate
Founded2010
HQNew York, NY, USMap
Websitewework.com
Employee Ratings
3.3
More
Overall CultureBMore

Locations

WeWork is headquartered in
New York, United States

Location Map

Latest Updates

Company Growth (employees)

Employees (est.) (Nov 2019)10,100(-19%)
Website Visits (Nov 2020)1 m(-5%)
Revenue (FY, 2018)$1.8 B(+106%)
Cybersecurity ratingDMore

Key People/Management at WeWork

WeWork Office Locations

WeWork has offices in New York, Shanghai and London

WeWork Financials and Metrics

Summary Metrics

Founding Date

2010

WeWork total Funding

$13.8 b

WeWork latest funding size

$5 b

Time since last funding

a year ago

WeWork investors

Goldman Sachs, DAG Ventures, Benchmark, T. Rowe Price, Wellington Management, Fidelity Investments, Glade Brook Capital Partners, Hony Capital, JP Morgan Chase & Co, Harvard Management Company, Primary Venture Partners, Aleph, Softbank, SoftBank Group, Alpha JWC Ventures, Syren Capital Advisors, Legend Holdings, JP Morgan Chase & Co., Masayoshi Son, SoftBank Group Corp, Catalyst Ventures, StraightPath Venture Partners

WeWork's latest funding round in October 2019 was reported to be $5 b. In total, WeWork has raised $13.8 b.

WeWork's revenue was reported to be $1.82 b in FY, 2018 which is a 105.6% increase from the previous period.

USD

Revenue (Q3, 2019)$934 m
Net income (Q3, 2019)($1.25 b)
Cash (30-Jun-2019)$2.47 b

USDFY, 2016FY, 2017FY, 2018
Revenue436.1 m886 m1.8 b
Revenue growth, %103%106%
Sales and marketing expense43.4 m143.4 m378.7 m
General and administrative expense115.3 m454 m357.5 m
USDQ1, 2017Q2, 2017Q3, 2017Q4, 2017Q1, 2018Q2, 2018Q3, 2018Q4, 2018Q1, 2019Q2, 2019Q3, 2019
Revenue163 m198.3 m241.1 m283.3 m342.2 m421.6 m482.3 m575.7 m728.3 m807.1 m934 m
Sales and marketing expense23.7 m41.2 m59.8 m62.8 m77.1 m109.6 m129.3 m151 m169 m
General and administrative expense46 m52.7 m318.8 m78.2 m77.1 m90.7 m111.5 m218.5 m171.4 m
R&D expense19.5 m26.9 m46.1 m58.7 m115.4 m118.5 m184.7 m141.8 m227.9 m
show all

USDFY, 2016FY, 2017FY, 2018
Cash506.6 m2 b1.7 b
Accounts Receivable18 m35.6 m99.5 m
Current Assets621.4 m2.4 b2.5 b
PP&E1.5 b2.3 b4.4 b
USDQ2, 2019
Cash2.5 b
Accounts Receivable181 m
Current Assets3 b
PP&E6.7 b
show all

USDFY, 2016FY, 2017FY, 2018
Net Income(429.7 m)(933.5 m)(1.9 b)
Depreciation and Amortization89 m162.9 m313.5 m
Accounts Receivable(13.9 m)(22.1 m)(69.4 m)
Accounts Payable12.9 m96.4 m147.6 m
USDQ2, 2019
Net Income(904.7 m)
Depreciation and Amortization255.9 m
Accounts Receivable(83.3 m)
Accounts Payable112.5 m
show all

Revenue Breakdown

WeWork revenue breakdown by business segment: 93.2% from Membership and Service Revenue and 6.8% from Other

WeWork revenue breakdown by geographic segment: 20.5% from Other foreign countries, 5.5% from Greater China, 15.1% from United Kingdom and 58.9% from United States

WeWork Operating Metrics

WeWork's Locations was reported to be 838 in May, 2020.

FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016May, 2017Q2, 2017Jul, 2017Sep, 2017Q3, 2017FY, 2017Feb, 2018Mar, 2018Q1, 2018Apr, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019May, 2020
Members4502 k4 k5 k15 k40 k87 k128 k154 k186 k219 k268 k319 k401 k466 k527 k
Active Cities123381634496571100111121
Locations272352111140156164200230234287425528838
Workstations107 k154 k178 k214 k251 k301 k354 k466 k548 k604 k

WeWork Acquisitions / Subsidiaries

Company NameDateDeal Size
SpaceIQAugust 30, 2019
Spacious TechnologiesAugust 27, 2019
WaltzJune 25, 2019
TeemSeptember 12, 2018$100 m
MissionUMay 17, 2018
Naked HubApril 12, 2018$400 m
ConductorMarch 06, 2018
MeetupNovember 28, 2017$30 m
Flatiron SchoolOctober 23, 2017
UnomyAugust 11, 2017

WeWork Cybersecurity Score

Cybersecurity ratingPremium dataset

D

65/100

SecurityScorecard logo

WeWork Website Traffic

Alexa Website Rank

Total Visits per monthSimilarWeb

WeWork Online and Social Media Presence

Twitter followers

113.02 k Twitter followers

6 Months

WeWork has 113.02 k Twitter Followers. The number of followers has increased 0.53% month over month and increased 0.83% quarter over quarter.

WeWork's Trends

Search term - WeWork

Twitter Engagement Stats for @WeWork

  • 35.73 k

    Tweets

  • 951

    Following

  • 113.02 k

    Followers

  • 213

    Tweets last 30 days

  • 4.6

    Avg. likes per Tweet

  • 91.5%

    Tweets with engagement

WeWork Technology StackBuildWith Logo

  • ads

    42 products used

    • adingo
    • Adobe Audience Manager Sync
    • AdRoll
      • Advertising.com
      • AppNexus
      • AppNexus Segment Pixel
      • Beeswax
      • Bizo
      • BlueKai
      • BlueKai DMP
      • BrightRoll
      • Criteo
      • DemDex
      • DialogTech
      • DoubleClick Bid Manager
      • DoubleClick.Net
      • eXelate
      • Eyeota
      • Facebook Custom Audiences
      • Geniee
      • Google Floodlight Counter
      • Google Remarketing
      • Index Exchange
      • IponWeb BidSwitch
      • LinkedIn Ads
      • LiveRail
      • Media.net
      • Openads/OpenX
      • Pubmatic
      • RhythmOne
      • Rocket Fuel
      • Rubicon Project
      • SiteScout
      • Smartclip
      • SpotXchange
      • StickyAds TV
      • Taboola
      • Tapad
      • Teads
      • Twitter Ads
      • X Plus One
      • Yahoo Small Business
  • analytics

    60 products used

    • Acxiom
    • Bing Conversion Tracking
    • Bing Universal Event Tracking
      • Bizo Insights
      • Bombora
      • Chartbeat
      • Clicky
      • comScore
      • CrazyEgg
      • Datalogix
      • DataXu
      • Demandbase
      • DoubleClick Floodlight
      • Everest Technologies
      • Facebook Conversion Tracking
      • Facebook Domain Insights
      • Facebook Pixel
      • Facebook Signal
      • Facebook Tag API
      • Fastly
      • Global Site Tag
      • Google AdWords Conversion
      • Google Analytics
      • Google Analytics Enhanced Link Attribution
      • Google Analytics with Ad Tracking
      • Google Conversion Linker
      • Google Conversion Tracking
      • Google Universal Analytics
      • Heap
      • Hotjar
      • Inspectlet
      • IXI Digital
      • KISSmetrics
      • Krux Digital
      • Lead Forensics
      • LinkedIn Insights
      • LiveRamp
      • Logentries
      • Lotame Crowd Control
      • MediaMath
      • MediaMind
      • Microsoft Adcenter
      • Mixpanel
      • Naver Analytics
      • New Relic
      • NS8
      • Optimizely
      • Pardot
      • Pingdom RUM
      • Pmetrics
      • Rapleaf
      • Segment
      • Signal
      • Soasta mPulse
      • Twitter Analytics
      • Twitter Conversion Tracking
      • Twitter Website Universal Tag
      • Visual IQ
      • Visual Website Optimizer
      • Yandex Metrika
  • CDN

    10 products used

    • AJAX Libraries API
    • Akamai
    • CDN JS
      • Cloudflare
      • CloudFront
      • Cloudinary
      • Content Delivery Network
      • GStatic Google Static Content
      • Twitter CDN
      • Vimeo CDN
  • cdns

    1 product used

    • Amazon CloudFront
Learn more on BuiltWith

WeWork Company CultureCultureAndCompensation Logo

  • Overall Culture

    B

    72/100

  • CEO Rating

    B-

    70/100

  • Compensation

    C

    61/100

  • Diversity

    B

    71/100

Learn more on Comparably

WeWork News and Updates

Jan 06, 2021
Wework raises concerns over long-term future due to Covid-19 impact
_3xOCqFlexible office space giant Wework has raised concerns over its long-term future after the Covid-19 pandemic sparked a dramatic shift The post Wework raises concerns over long-term future due to Covid-19 impact appeared first on CityAM.
Dec 22, 2020
The pandemic could have crushed WeWork. It may have saved it instead.
_3xOCq WeWork is still working. | Kazuhiro Nogi/AFP via Getty Images How do you make a business out of sharing office space when no one is going to the office? Last year, WeWork failed to become a public company after a high-profile implosion full of intrigue, excess, and downright stupidity. Miraculously, one year and one global pandemic later, the coworking company is not only still kicking, but it stands to ride post-Covid-19 office trends to profitability and an IPO — if it can hold on long enough. A company that rents out trendy shared and private office space, WeWork has made a number of critical changes that have helped it hold on while facing a pandemic that kept people home and away from offices. Some of the most important changes, however, happened before the coronavirus took hold. Last year, the company ditched its founder, Adam Neumann, who had created a company culture that was more in line with the most outrageous tech company than something as quotidian as real estate. As he sought a tech company valuation for the office subleasing company, Neumann’s hard partying, profligate spending, and poor judgment derailed that goal and nearly destroyed the company. A new CEO, Sandeep Mathrani, took over in February of this year and was charged with righting the company’s mission, cutting costs, and excising a destructive company culture in order to bring the once highly valued unicorn back from the brink. WeWork’s upheaval meant that the company was already forced to be agile in order to avoid destruction before the pandemic. But the company’s perseverance is also a testament to the strength of the flexible office market, a real estate sector that focuses on short leases and move-in ready space, in addition to coworking. Indeed, so-called flexible office space has proved surprisingly hardy during the pandemic, given that its business had been predicated, in part, on the idea of squeezing as many people into as little square footage as possible. With the arrival of a vaccine, those issues are seeming less important. Meanwhile, flexible space’s value proposition is looking more attractive for companies trying to contend with the uncertainty of a more dispersed workforce spending more of their days at home. “We believe, based on our data and history, that flex is going to be a very viable alternative when interest in office space rebounds,” Julie Whelan, Global Head of Occupier Research at commercial real estate firm CBRE, said in a recent briefing about flexible office space. “It will come out of this stronger than it went in.” So to comprehend WeWork’s remarkable recovery, you need to know more about flexible office space and its prospects. Why flexible office space has a future There’s no getting around the fact that the pandemic has been rough on owners and operators of office space, including flexible space, which people can get rid of more easily. Only a small portion of people have returned to the office. In Manhattan, the biggest office market, just 10 percent of office workers have come back, and some may never do so. But while new leases are down, few are relinquishing flexible office space. The amount of leased flexible office space in the top 23 US markets was 67.1 million square feet at the end of the third quarter this year, according to the commercial real estate services giant Cushman & Wakefield, up 2.5 percent from where it was at the end of 2019. WeWork and its competitors like Knotel and Industrious — all of which lease ready-to-use office space to individuals and companies — have slowed their rapid growth but haven’t had to downsize much. They’ve retained enough business to keep them afloat during the pandemic and are looking forward to a time when their flexible space is more attractive than regular long-term office leases. Industrious says it thinks it will max out on fitting new customers into its existing space next year. The attraction to flexible office space is that businesses can more easily adjust to trends like the hybrid office, in which people go into the office less often and for different reasons than they used to. They also provide a stopover for companies still trying to figure out what the future will bring. Real estate experts say that rather than shying away from the space, companies — especially big ones — are planning on increasing their flexible space footprints and making it a bigger part of their portfolio in the future. Some 86 percent of companies plan to use flexible space as a key part of their real estate strategies in the future, according to a report by CBRE that surveyed about 80 companies around the globe. They’re also highly likely to favor leasing in buildings that have flexible space offerings. JLL, a commercial real estate services company, predicts that 30 percent of all office space will be flexible by 2030. Jonathan Wasserstrum, CEO of digital commercial real estate brokerage SquareFoot, thinks it could happen sooner. Demand for flexible options on his platform increased 15 percent in 2020. The reasons for the move to flexible space are myriad, and in general, they represent an acceleration of trends apparent before the pandemic. Surprisingly, real estate experts don’t think that shared space will be as scary in the future as it’s been during the pandemic, thanks to widespread adoption of safety measures and, perhaps more importantly, a vaccine on the way. “Anyone who manages an office environment, including flexible space providers, has been tasked with putting protocols in place to increase safety at work, such as air filtration, social distancing, enhanced cleaning, mask usage, etc.,” CBRE’s Whelan said. “As long as safety protocols are in place and followed, we don’t see flexible space being different than other types of office space.” In fact, the pandemic has made such space more attractive. “For corporate occupiers considering spacing needs, having flexibility is exactly what they would want because of things like this pandemic,” Paul Leonard, a managing consultant at CoStar Advisory Services, told Recode. That is, if something bad happens, companies want to be able to more quickly relinquish their rental expenses than if they signed a traditional office lease. They’re willing to pay a premium to mitigate uncertainty. But the main reason for wanting more flexible space, according to the CBRE survey, is to provide places for companies’ increasingly mobile workforce to work. Going forward, most companies plan on adopting a so-called hybrid model where some of their employees work from home some of the time. The rest of the time, they’ll need office space. Flexible space helps accommodate office space in a wider variety of locations to reflect a dispersed workforce. It can also more easily be acquired and relinquished than traditional office space. Flexible space is ascendant as businesses are reconsidering the purpose of the office, according to David Smith, Americas Head of Occupier Research at Cushman & Wakefield. “Instead of having just an office space, we’ll have a workplace ecosystem,” Smith told Recode. That means people may not go to a main office every day by default, but instead go there “more for learning development, collaborating, mentoring, socializing.” In other words, businesses still need office space, but they need it for different reasons than they used to. Offices for many will function as a welcome reprieve from working from home, especially for people with roommates or children or too-small apartments. And companies like WeWork are uniquely positioned to provide office space for people and companies not quite sure what the future will hold. WeWork’s miraculous turnaround No one could’ve predicted that WeWork would still be at the forefront of office trends in 2020. Its new path to profitability and perhaps even a public listing is especially extraordinary considering how bad things were and how far it fell in the last few years. Though it’s a tech company in name only, WeWork had once been a Silicon Valley darling with a lofty valuation of $47 billion and the biggest banks tripping over themselves to help make it a public company. But the process of going public brought to light the company’s shocking financial mishaps and cultural ethos. The year before it intended to go public, the company was losing $1.6 billion on $1.8 billion in revenue. Losing money is nothing new for tech startups, but those losses were the product of even larger issues about corporate governance and bad behavior. As the company struggled to prove its value to potential public shareholders, its co-founder and CEO Adam Neumann surfed, missed meetings, and enriched himself and his family with company money. There were drugs, alleged sexual assault, and a “spa and ice bath” attached to Neumann’s office. He also spent insane amounts of money on investments that had nothing to do with WeWork — which he needlessly renamed the We Company — including a school and a wave pool. It turned out that the public markets were less amenable to this behavior than the private investors had been. In late 2019, the company canceled its public offering and fired Neumann, who got a giant $1.7 billion exit package to leave the company he drove into the ground. SoftBank, its main investor, lost billions on the company and set about trying to rescue it. That included cutting spending, slowing its new real estate investments, and reconsidering the ones it already had. It fired thousands of employees and divested from non-core businesses, including the wave pool. It hired also hired Mathrani, a more moderate executive known for turning companies around. And finally, the We Company changed its name back to WeWork. While the company isn’t out of the woods, it has managed to get back on the right path. WeWork has already halved the amount of money it’s losing from $1.2 billion in the third quarter of last year to a still large but more manageable $500 million this year. Its membership and revenue are down, but they’re down less than 15 percent from last year. That’s not so bad when you consider that many of WeWork’s members have monthly subscriptions and can cancel any time. Additionally, a growing share of its memberships — 54 percent versus 43 percent last year — is coming from enterprise companies that have 500 or more employees. These companies sometimes lease whole floors or buildings and are more valuable and stable than individual memberships. The company has also added some revenue lines that actually make sense. In October, the company launched Business Solutions to help small and medium-sized businesses in its spaces handle things like human resources and payroll. Businesses will pay a monthly subscription fee for access to these services, in addition to what they pay for rent. “This is really moving [WeWork] from not just a space company but really offering end-to-end business solutions,” Prabhdeep Singh, WeWork’s global head of marketplace, told Yahoo Finance in October. “I wouldn’t say this is the final grand vision and plan, but this is the first step.” It also added in-office advertising to allow advertisers to reach its business clientele through the thousands of screens within WeWork offices. The challenges ahead WeWork has fixed some major flaws and is in a promising industry, but that doesn’t mean it’s assured success. The company is going to face some severe challenges before the pandemic is over. WeWork generally operates by leasing space in buildings or entire buildings from landlords, and retrofitting that space to make it look like a hip startup office. It then subleases desks, offices, or even entire floors or buildings to individuals and companies, who pay much more than WeWork pays for it. One challenge is that WeWork signed many of those leases with landlords at the top of the market before the pandemic, when rents were at their highest. But the company is subleasing them now when people expect to pay less for office rent since there is more available and we’re in a recession. Newer locations are also less likely to be fully occupied, since it takes a while to fill them with tenants, so they’re bringing in less total rent than mature locations do. In other words, for its newer locations, WeWork is paying more and bringing in less. One of WeWork’s biggest competitors, Industrious, has forsworn leases in exchange for revenue shares with building owners. That means instead of paying rent, it gives landlords a share of its revenue for about 80 percent of its portfolio. That arrangement allowed it to actually expand into new locations during the pandemic. It also let it minimize losses, since bringing in less revenue meant it had to pay out less as well. CBRE says to expect more of these types of arrangements in the future. Additionally, building owners themselves are getting into the coworking and flexible office space, meaning they could knock out middlemen like WeWork. Finally, a large portion of WeWork’s business does come from traditional coworking, with many people using shared workspaces. It remains to be seen if people prefer private offices within flexible space after the pandemic is over. For now, WeWork has to make it through the rest of the pandemic if it’s going to continue to be a major contender in the flexible office space. As CoStar’s Leonard put it, “If you can survive it, the concept is still good. The survivors of this period will probably do well and thrive again.”
Nov 26, 2020
China’s WeWork for renters is creating a new batch of internet economy victims
_3xOCqOnline platform Danke Apartments was once a rising star in China's fast-growing flat rental market. Now financial difficulties and a spate of evictions have prompted protests from its tenants and landlords.
Nov 18, 2020
A new book on WeWork reveals the confidence skill we really need
_3xOCqThe failures of WeWork founder Adam Neumann were also the failures of investors who couldn't see past his confidence.
Nov 16, 2020
Former WeWork China exec launches a ‘startup studio’ for real estate
The real estate industry has been slow to adopt technology compared to many other sectors. So when Dominic Penaloza left his job at WeWork China as the head of innovation and technology this spring, he decided to focus on proptech in Asia. Instead of building a startup himself or investing in one, Penaloza combines both […]

WeWork Blogs

Oct 04, 2019
Is this a photo—or a rendering?
WeWork’s in-house 3D-rendering studio innovates in order to create beautiful renderings that tell the stories of our spaces The post Is this a photo—or a rendering? appeared first on Ideas.
Oct 04, 2019
11 vibrant offices that bring the outdoors inside
Research shows that indoor plants and greenery can help improve employee productivity and wellbeing The post 11 vibrant offices that bring the outdoors inside appeared first on Ideas.
Oct 04, 2019
WeWork Dock 72 floats atop the Brooklyn Navy Yard’s storied past
The site that launched some of America’s most innovative ships becomes home to entrepreneurs and enterprises The post WeWork Dock 72 floats atop the Brooklyn Navy Yard’s storied past appeared first on Ideas.
Oct 04, 2019
WeWork’s new India HQ blends office design with local culture
Employees and members enjoy shared amenities including a library, café, and sunlit atrium The post WeWork’s new India HQ blends office design with local culture appeared first on Ideas.
Oct 02, 2019
Is your workspace going to deliver maximum value?
Ask yourself these six questions before signing on the dotted line The post Is your workspace going to deliver maximum value? appeared first on Ideas.
Oct 01, 2019
What Pinterest’s Meredith Guerriero does all day
She travels weekly, works from home on Fridays, and emphasizes transparency at the office The post What Pinterest’s Meredith Guerriero does all day appeared first on Ideas.

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When was WeWork founded?
WeWork was founded in 2010.
Who are WeWork key executives?
WeWork's key executives are Sebastian Gunningham, Sandeep Mathrani and Joanna Lee.
How many employees does WeWork have?
WeWork has 10,100 employees.
What is WeWork revenue?
Latest WeWork annual revenue is $1.82 b.
What is WeWork revenue per employee?
Latest WeWork revenue per employee is $351.07 k.
Who are WeWork competitors?
Competitors of WeWork include Real Time Acquisition, IWG and LiquidSpace.
Where is WeWork headquarters?
WeWork headquarters is located at 115 W 18th St, New York.
Where are WeWork offices?
WeWork has offices in New York, Shanghai and London
How many offices does WeWork have?
WeWork has 3 offices.

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