WeWork
WeWork Inc.
WeWork Inc. is an American flexible-workspace company headquartered in New York City. Founded in 2010 by Adam Neumann and Miguel McKelvey, it provides coworking, private office, and related workspace services in multiple countries, and has also operated co-living and other workplace-related ventures.
History
WeWork began in New York City in 2010 and expanded rapidly from a single coworking location into a global flexible-workspace brand. Its growth included related ventures such as WeLive, a co-living project launched in 2016.
Business model
WeWork leases office buildings and then offers desks, private offices, and related services to members on shorter terms. This model is designed to appeal to freelancers, startups, and larger companies seeking flexible space.
Operations
WeWork has operated in many cities across several continents, with locations in the United States, Canada, Europe, Asia, and elsewhere. Public sources describe it as a provider of coworking, office services, and workplace management solutions.
Financial difficulties and restructuring
WeWork faced serious financial strain in the late 2010s and entered bankruptcy proceedings in 2023. It later emerged from bankruptcy in 2024 and continued operating under a reorganized structure.
Key facts
- WeWork provides flexible workspace, including physical and virtual shared offices.
- The company was founded in New York City in 2010 by Adam Neumann and Miguel McKelvey.
- Its business model is based on leasing office space and subletting it as coworking and flexible offices.
- WeWork filed for bankruptcy protection in 2023 and emerged from bankruptcy in 2024, continuing operations afterward.
- PitchBook reports that WeWork was acquired by Yardi Systems in 2024.
WeWork has had operations in Canada as part of its North American and international footprint, making it relevant to Canadian readers seeking flexible office space options.[3][15]
Frequently asked questions
What is WeWork?
Who founded WeWork?
Where is WeWork headquartered?
What is WeWork’s business model?
Does WeWork still operate?
What is WeWork’s relation to Canada?
References
- Wikipedia — https://en.wikipedia.org/wiki/WeWorkSupports: Founding date, founders, headquarters, and general company description.
- Encyclopaedia Britannica — https://www.britannica.com/money/WeWorkSupports: Business model based on leasing office space and subletting desks.
- World Economic Forum — https://www.weforum.org/organizations/wework/Supports: Company description, founding year, headquarters, services, and international operations.
- GlobalData — https://www.globaldata.com/company-profile/wework-inc/Supports: Company profile, headquarters, and worldwide operations.
- Investing.com — https://www.investing.com/equities/wework-company-profileSupports: Services offered, founding year, headquarters, and flexible workspace products.
- Runway East — https://www.runwayea.st/blogs/what-is-weworkSupports: Post-bankruptcy continued operations after 2024 restructuring.
- PitchBook — https://pitchbook.com/profiles/company/62181-28Supports: 2024 acquisition by Yardi Systems and company profile details.
- WeWork — https://www.wework.com/newsroom/wecompanySupports: Company mission statement.