WeWork

WeWork Inc.
Company type	Private limited company
Traded as	OTC Pink: WEWKQ (2023); NYSE: WE (2021–2023);
Industry	Commercial real estate
Founded	2010
Founders	Adam Neumann; Miguel McKelvey;
Headquarters	New York City, U.S.
Number of locations	154 locations in 35 countries (2024)
Area served	Worldwide
Key people	John Santora (CEO)
Services	Coworking
Net income	436,099 United States dollar (2016)
Parent	Cupar Grimmond, an affiliate of Yardi Systems (60%); SoftBank (20%); Other (20%)
Website	wework.com
	Footnotes / references;

WeWork location, 1 University Avenue, Toronto

WeWork Inc., headquartered in New York City, is a provider of coworking spaces, including physical and virtual shared spaces, in approximately 600 buildings in 125 cities.

WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey. Over the following 10 years, the company raised $12.8 billion in financing at valuations as high as $47 billion, mostly from the SoftBank Vision Fund, led by Masayoshi Son. In September 2019, the company filed documentation to become a public company and revealed issues with corporate governance. Investors forced both the cancellation of the IPO and the resignation of Neumann.^[3]^[4]^[5] The company filed for bankruptcy in November 2023.^[6] As part of the bankruptcy reorganization, in 2024, Cupar Grimmond (an affiliate of Yardi Systems) acquired a 60% stake in the company, 20% was acquired by affiliates of SoftBank, and 20% was acquired by other investors. The company shrank its operations, selling all owned real estate and cancelling or amending hundreds of leases.

^ C, Priyamvada; Deka, Kannaki (March 17, 2023). "WeWork reaches deals to cut debt, extend maturities". Reuters.
^ Rizzi, Nicholas (May 16, 2023). "WeQuit: WeWork CEO Sandeep Mathrani Stepping Down to Join Private Equity Firm". Observer Media.
^ Cite error: The named reference frosty was invoked but never defined (see the help page).
^ Kimball, Whitney (November 8, 2019). "Swindled WeWorkers Ask for Dignity". Gizmodo.
^ Brown, Elliot (September 19, 2019). "'This is not the way everybody behaves': How Adam Neumann's over-the-top style built WeWork".
^ Thorbecke, Catherine (November 7, 2023). "WeWork files for bankruptcy". CNN.

[1] C, Priyamvada; Deka, Kannaki (March 17, 2023). "WeWork reaches deals to cut debt, extend maturities". Reuters.

[2] Rizzi, Nicholas (May 16, 2023). "WeQuit: WeWork CEO Sandeep Mathrani Stepping Down to Join Private Equity Firm". Observer Media.

[frosty-3] Cite error: The named reference frosty was invoked but never defined (see the help page).

[kimball-4] Kimball, Whitney (November 8, 2019). "Swindled WeWorkers Ask for Dignity". Gizmodo.

[5] Brown, Elliot (September 19, 2019). "'This is not the way everybody behaves': How Adam Neumann's over-the-top style built WeWork".

[6] Thorbecke, Catherine (November 7, 2023). "WeWork files for bankruptcy". CNN.

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