Difference between revisions of "Timeline of WeWork"

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| 2018 || Crisis || In 2018 WeWork loses over US$2 billion.<ref name=WaPo>{{cite news|url=https://www.washingtonpost.com/business/2019/09/23/adam-neumanns-chaotic-energy-built-wework-now-it-might-cost-him-his-job-ceo/|title=Adam Neumann’s chaotic energy built WeWork. Now it might cost him his job as CEO.|author=Telford, Taylor|date=September 23, 2019|work=Washington Post}}</ref> Losses and revenue both double in the year. According to the ''{{w|Financial Times}}'', the company lost US$219,000 each hour of each day from March 2018 to March 2019.<ref>{{Cite web|url=https://www.ft.com/content/0e426c90-8c45-11e9-a1c1-51bf8f989972|title=WeWork: the 'hypothetical' company at the heart of the property market|last=Platt|first=Eric|date=July 2, 2019|website=Financial Times|archive-url=|archive-date=|url-status=|access-date=26 December 2019}}</ref><ref>{{Cite web|url=https://www.businessinsider.com/wework-not-close-to-profitable-loses-hundreds-thousands-every-hour-2019-7|title=WeWork isn't even close to being profitable — it loses $219,000 every hour of every day|last=Aydin|first=Rebecca|website=Business Insider|access-date=26 December 2019}}</ref>
 
| 2018 || Crisis || In 2018 WeWork loses over US$2 billion.<ref name=WaPo>{{cite news|url=https://www.washingtonpost.com/business/2019/09/23/adam-neumanns-chaotic-energy-built-wework-now-it-might-cost-him-his-job-ceo/|title=Adam Neumann’s chaotic energy built WeWork. Now it might cost him his job as CEO.|author=Telford, Taylor|date=September 23, 2019|work=Washington Post}}</ref> Losses and revenue both double in the year. According to the ''{{w|Financial Times}}'', the company lost US$219,000 each hour of each day from March 2018 to March 2019.<ref>{{Cite web|url=https://www.ft.com/content/0e426c90-8c45-11e9-a1c1-51bf8f989972|title=WeWork: the 'hypothetical' company at the heart of the property market|last=Platt|first=Eric|date=July 2, 2019|website=Financial Times|archive-url=|archive-date=|url-status=|access-date=26 December 2019}}</ref><ref>{{Cite web|url=https://www.businessinsider.com/wework-not-close-to-profitable-loses-hundreds-thousands-every-hour-2019-7|title=WeWork isn't even close to being profitable — it loses $219,000 every hour of every day|last=Aydin|first=Rebecca|website=Business Insider|access-date=26 December 2019}}</ref>
 
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| 2019 || The We Company era || WeWork is rebranded as the We Company.
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| 2019 || The We Company era || WeWork {{w|Initial public offering}} attempt becomes one of the most notables business failures of the year, and its valuation falls by US$40 billion in a matter of months. A series of allegations include weak governance, idiosyncratic management, and astronomical valuation.<ref>{{cite web |title=Why We Should Celebrate WeWork’s Failed IPO |url=https://www.forbes.com/sites/amiyatoshpurnanandam/2019/11/11/why-should-we-celebrate-weworks-failed-ipo/#1e8f0a7c10ea |website=forbes.com |accessdate=12 January 2020}}</ref> WeWork is rebranded as the We Company. In September, Adam Neumann resigns as CEO of the company.
 
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|}
 
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| 2019 || July 30 || Acquisition || The We Company acquires California-based space and workplace management software vendor SpaceIQ, which provides a cloud-based workplace management platform.<ref>{{cite web |title=WeWork Acquires SpaceIQ To Equip Itself With Space Planning Tools For Its Growing Enterprise Customer Base |url=https://www.verdantix.com/blog/wework-acquires-spaceiq-to-equip-itself-with-space-planning-tools-for-its-growing-enterprise-customer-base |website=verdantix.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork to acquire workplace real estate platform SpaceIQ, expanding enterprise technology suite |url=https://www.wework.com/ideas/wework-to-acquire-workplace-real-estate-platform-space-iq-expanding-enterprise-technology-suite |website=wework.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork is in talks to acquire start-up SpaceIQ as it pushes into software ahead of IPO |url=https://www.cnbc.com/2019/07/30/wework-is-in-talks-to-acquire-software-start-up-spaceiq.html |website=cnbc.com |accessdate=27 December 2019}}</ref>
 
| 2019 || July 30 || Acquisition || The We Company acquires California-based space and workplace management software vendor SpaceIQ, which provides a cloud-based workplace management platform.<ref>{{cite web |title=WeWork Acquires SpaceIQ To Equip Itself With Space Planning Tools For Its Growing Enterprise Customer Base |url=https://www.verdantix.com/blog/wework-acquires-spaceiq-to-equip-itself-with-space-planning-tools-for-its-growing-enterprise-customer-base |website=verdantix.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork to acquire workplace real estate platform SpaceIQ, expanding enterprise technology suite |url=https://www.wework.com/ideas/wework-to-acquire-workplace-real-estate-platform-space-iq-expanding-enterprise-technology-suite |website=wework.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork is in talks to acquire start-up SpaceIQ as it pushes into software ahead of IPO |url=https://www.cnbc.com/2019/07/30/wework-is-in-talks-to-acquire-software-start-up-spaceiq.html |website=cnbc.com |accessdate=27 December 2019}}</ref>
 
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| 2019 || August 24 || || The We Company's {{w|SEC filing}} states that the company faces substantial risk in the event of an economic downturn.<ref>{{Cite web|date=August 24, 2019|publisher=UNITED STATES SECURITIES AND EXCHANGE COMMISSION|location=Washington, D.C. 20549|title=FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |author=The We Company| website=sec.gov|url=https://www.sec.gov/Archives/edgar/data/1533523/000119312519220499/d781982ds1.htm}}</ref> because the company has US$47 billion of future lease obligations and only $4 billion of future lease commitments.<ref name=BT >{{ cite news | url=https://www.businessinsider.com/wework-47-billion-and-4-billion-lease-disparity-dangerous-recipe-2019-8 | title=2 big numbers — $4 billion and $47 billion — sum up WeWork's business model and the risky reason it could collapse in a recession | last=Wolverton | first=Troy | newspaper=Business Insider | date=August 21, 2019 | accessdate=September 17, 2019| quote=The company touted its $4 billion in future lease commitments from its customers. But it also disclosed that it had $47 billion in future lease obligations to its landlords. }}</ref>
+
| 2019 || August 24 || Financial || The We Company's {{w|SEC filing}} states that the company faces substantial risk in the event of an economic downturn.<ref>{{Cite web|date=August 24, 2019|publisher=UNITED STATES SECURITIES AND EXCHANGE COMMISSION|location=Washington, D.C. 20549|title=FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 |author=The We Company| website=sec.gov|url=https://www.sec.gov/Archives/edgar/data/1533523/000119312519220499/d781982ds1.htm}}</ref> because the company has US$47 billion of future lease obligations and only $4 billion of future lease commitments.<ref name=BT >{{ cite news | url=https://www.businessinsider.com/wework-47-billion-and-4-billion-lease-disparity-dangerous-recipe-2019-8 | title=2 big numbers — $4 billion and $47 billion — sum up WeWork's business model and the risky reason it could collapse in a recession | last=Wolverton | first=Troy | newspaper=Business Insider | date=August 21, 2019 | accessdate=September 17, 2019| quote=The company touted its $4 billion in future lease commitments from its customers. But it also disclosed that it had $47 billion in future lease obligations to its landlords. }}</ref>
 
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| 2019 || August 27 || Acquisition || The We Company acquires rival co-working business, Spacious, a three-year-old, New York-based startup that turns restaurants that sit empty during the day into co-working spaces.<ref>{{cite web |title=WeWork acquires co-working rival Spacious |url=https://techcrunch.com/2019/08/27/wework-acquires-co-working-rival-spacious/ |website=techcrunch.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork just acquired a startup that converts empty New York and San Francisco restaurants into coworking spaces |url=https://www.businessinsider.com/wework-acquires-spacious-restaurant-workspaces-2019-8 |website=businessinsider.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork Continues Consolidation Spree with Acquisition of Spacious |url=https://fortune.com/2019/08/27/wework-consolidation-spacious-acquisition/ |website=fortune.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork acquires restaurant-coworking startup Spacious |url=https://www.crainsnewyork.com/real-estate/wework-acquires-restaurant-coworking-startup-spacious |website=crainsnewyork.com |accessdate=27 December 2019}}</ref>
 
| 2019 || August 27 || Acquisition || The We Company acquires rival co-working business, Spacious, a three-year-old, New York-based startup that turns restaurants that sit empty during the day into co-working spaces.<ref>{{cite web |title=WeWork acquires co-working rival Spacious |url=https://techcrunch.com/2019/08/27/wework-acquires-co-working-rival-spacious/ |website=techcrunch.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork just acquired a startup that converts empty New York and San Francisco restaurants into coworking spaces |url=https://www.businessinsider.com/wework-acquires-spacious-restaurant-workspaces-2019-8 |website=businessinsider.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork Continues Consolidation Spree with Acquisition of Spacious |url=https://fortune.com/2019/08/27/wework-consolidation-spacious-acquisition/ |website=fortune.com |accessdate=27 December 2019}}</ref><ref>{{cite web |title=WeWork acquires restaurant-coworking startup Spacious |url=https://www.crainsnewyork.com/real-estate/wework-acquires-restaurant-coworking-startup-spacious |website=crainsnewyork.com |accessdate=27 December 2019}}</ref>

Revision as of 19:52, 11 January 2020

This is a timeline of WeWork, an American company which provides shared workspace, community, and services for entrepreneurs, freelancers, startups and small businesses.

Big picture

Time period Development summary More details
2008 – 2010 GreenDesk era GreenDesk, the earliest version of WeWork, is established as a coworking business.
2010 onwards WeWork era GreenDesk is sold and WeWork opens to entrepreneurs with a first location in New York City. At least thirteen funding rounds would be announced by the startup, rainsing a cumulative US$ 9.8 billion.
2014 (October) onwards International expansion WeWork goes international after opening a location in London. As of November 2017, WeWork has locations in 20 countries outside the United States.
2018 Crisis In 2018 WeWork loses over US$2 billion.[1] Losses and revenue both double in the year. According to the Financial Times, the company lost US$219,000 each hour of each day from March 2018 to March 2019.[2][3]
2019 The We Company era WeWork Initial public offering attempt becomes one of the most notables business failures of the year, and its valuation falls by US$40 billion in a matter of months. A series of allegations include weak governance, idiosyncratic management, and astronomical valuation.[4] WeWork is rebranded as the We Company. In September, Adam Neumann resigns as CEO of the company.

Visual Data

Funding Rounds for WeWork, in US$.
WeWork expansion as of December 2019.[5]

Full timeline

Year Month and date Event type Details
2001 Prelude Future WeWork CEO and cofounder Israeli–born Adam Neumann moves to the United States after serving as a navy officer in the Israeli military.[6]
2008 May Prelude Adam Neumann owns a baby clothing company, working in the same building in Brooklyn as his future cofounder, Miguel McKelvey, a lead architect at a small firm. The partially vacant building would lead to Neumann and McKelvey team up and establish GreenDesk, an "eco-friendly coworking space", aimed at entrepreneurs. GreenDesk, the earliest version of WeWork, focuses at offering a sustainable coworking space, complete with sustainable office furniture.[7][8]
2010 Creation Neumann and McKelvey sell Green Desk and WeWork opens its doors to entrepreneurs at its first location in [{w:SoHo, Manhattan|SoHo]].[8]
2011 April WeWork Labs is launched. This would function as a startup incubator within WeWork’s network. WeWork Labs provides an open workspace with the goal of encouraging collaboration between entrepreneurial members.[8]
2011 October 25 Funding WeWork receives US$1,000,000 investment in Seed Round.[9]
2012 January 30 Funding WeWork receives $6,850,000 investment in Seed Round.[9]
2012 January 30 Expansion WeWork opens its first space in Los Angeles.[8]
2012 February WeWork Labs relocates at 175 Varick Street, SoHo.[8]
2012 May Expansion WeWork has already four offices in New York and one in Los Angeles. A first space in San Francisco is announced, and would hold approximately 100 entrepreneurs, designers and developers.[8]
2012 July 1 Funding WeWork receives $17,000,000 investment in Series A funding round.[9][8]
2013 May 1 Funding WeWork receives $40,000,000 investment in Series B funding round.[9][8]
2013 October 20 Funding WeWork receives $150,000,000 Series C funding round.[9]
2014 February Expansion WeWork launches two coworking locations in Washington D.C. and one more location in Seattle.
2014 October Expansion (international) WeWork opens its first international location in London’s South Bank.[8]
2014 December 15 Funding WeWork receives US$355,000,000 in Series D funding round. T. Rowe Price, Goldman Sachs. 6 investors.[9][10][11][12]
2015 May Partnership WeWork partners with Chase with the purpose to offer WeWork members discounted rates and premium customer service with Chase Paymentech, whose payment platforms support businesses of all sizes to process payments, including credit, debit, and digital, alternative, mobile payment options.[13][14][15]
2015 June 1 Team WeWork announces Time Warner Cable Chief financial officer Artie Minson Artie Minson as President and Chief Operating Officer.[16][17][18]
2015 June 25 Funding WeWork receives US$433,934,331 in Series E funding round. Glade Brook Capital Partners. 4 investors.[9]
2015 July Partnership WeWork partners with New York real estate developers, Boston Properties and Rudin Management, to build the WeWork’s first ground-up project at the Brooklyn Navy Yard.[8]
2015 August 5 Acquisition WeWork acquires New York–based CASE, a building information and technology consultancy firm.[19][20][21][22]
2015 October Legal WeWork announces it would hire Union cleaners due to pressure from labor organizers after settling a two-month dispute with its janitorial staff and the Service Employees International Union. Previously, WeWork had fired more than 90% of its contracted cleaners in New York city, following a lengthy dispute over pay and working conditions.[23][24][25][26]
2015 December Expansion WeWork has 54 coworking spaces in New York City, Boston, Philadelphia, Washington DC, Miami, Chicago, Austin, Berkeley, San Francisco, Los Angeles, Portland, and Seattle. International locations include London and Amsterdam, along with new locations in Tel Aviv and Herzliya in Israel.[8]
2016 March 9 Funding Chinese firms Legend Holdings and Hony Capital invest US$430 million in WeWork Series F funding round, putting the company’s new valuation at US$16 billion. Both firms would facilitate WeWork’s access to the Chinese market.[27][28][29][30]
2016 March 18 Acquisition WeWork acquires Welkio, a digital sign-in system for guests at an office.[31][32][33][34]
2016 April 4 Service WeWork launches WeLive in New York city, a service under termed co–living concept – analogous to coworking, by renting out shared living spaces.[35][36][37][38]
2016 August Expansion (international) WeWork opens its first office space in Seoul, South Korea.[39]
2016 October 12 Funding Shanghai Jin Jiang International Hotels, one of China’s largest hotel companies, puts up US$260 million towards WeWork’s Series F round of financing, bringing its total venture capital to $1.7 billion and valuing WeWork at US$16.9 billion. The investment completes a US$690 million funding round started in March 2016.[40][41][42][43]
2017 February 26 Funding Japanese telecommunications company Softbank invests US$ 3 billion in WeWork Private Equity Round and Secondary Market investment round.[9]
2017 April 25 Service WeWork partners with global customer service software company Zendesk and launches WeWork Service Store, a software-only platform that aggregates business software and services for members.[44][45][46][47]
2017 June 1 Investment WeWork invests in Brave Initiatives, a non-profit organization that provides programs for high school girls.[48]
2017 June 7 Acquisition WeWork acquires Fieldlens –a mobile communication system for the construction industry, in order to help manage construction operations.[49][50][51][52][53]
2017 June 13 Investment WeWork invests in Victor Tech inc., a Chicago-based company that developed an app to connect former soldiers to a mental health program, job services and other veterans groups and meetups.[48][54]
2017 July 5 Expansion (international) WeWork enters India, opening a 2,200-seater community workspace in Bangalore.[55][56][57][58]
2017 July 10 Funding WeWork raises US$760 million in a new Series G funding round, putting the coworking company's valuation at US$20 billion according to sources close to the deal.[9][59][60][61]
2017 July Expansion (international) WeWork announces debut in Japan with 10 to 20 Tokyo workspaces.[62][63][64][65]
2017 July 14 Expansion (international) WeWork opens space in São Paulo, its first in Brazil.[66]
2017 August 6 Acquisition WeWork acquires Singapore-based counterpart Spacemob, with the purpose ox expanding in South East Asia.[67][68][69][70][71]
2017 August 11 Acquisition WeWork acquires Tel Aviv based company Unomy, in order to help its team sell enterprise clients on the idea of opening offices in its workspaces around the world.[72][73][74][75][76]
2017 August 25 Funding Japanese telecommunications company Softbank announces a US$4.4 billion investment in WeWork, with US$3.3 billion to buy WeWork shares, and the rest towards fueling the company’s expansion in Asia.[77][78][79][80]
2017 September 12 Legal WeWork files a complaint with New York’s Southern District Court, alleging that China-based UrWork is guilty of trademark infringement, under the argument is that UrWork is a name that is far too similar to WeWork given that both companies operate in the coworking industry.[81][82][83][84]
2017 October Partnership Wework partners with Airbnb with aims at allowing business travelers using Airbnb for housing to also use WeWork to book a desk, conference room, or other office amenities nearby.[85][86][87][88]
2017 October 17 Partnership WeWork announces partnership with real estate firm, Embassy, with the purpose of expanding the co-working brand into India.[89][90]
2017 October Service WeWork opens first permanent gym, in Manhattan.[91][92][93][94]
2017 November 5 Venture launch Rebekah Neumann (Adam Neumann spouse) first announces WeGrow as a private school for children aged 3 through students in grade 4.[95] The first permanent location is in WeWork's New York headquarters,[96] where a kindergarten is set up with aims at teaching entrepreneurship. The students, all between five and eight years old, take classes on sales techniques, brand-building, and supply and demand[97][98][99][100]
2017 October Acquisition WeWork acquires coding bootcamp Flatiron School, a platform that offers both online and offline classes to people interested in the tech industry.[101][102][103][104]
2017 November Acquisition WeWork pays US$200 millions to acquire social networking service Meetup, which runs a website that lets people create, organize, and join groups around specific interests, usually for the sake of hosting events and inviting people to them.[105][106][107]
2018 April 11 Acquisition WeWork acquires Chinese rival Naked Hub, a coworking company with 10,000 members in 24 locations, as large in China as WeWork, which has 10,000 members in a dozen locations.[108][109][110]
2018 May 16 Acquisition WeWork elementary school WeGrow acquires MissionU, a one-year vocational bootcamp aimed at students ages 19-25, enrolling them in a one-year program designed as preparation for business intelligence jobs.[111][112][113]
2018 April Acquisition WeWork acquires UK purchasing office fit-out company LTB, which specializes in office design, fit-out, refurbishment and relocation.[114]
2018 April Merger It is announced that WeWork has merged its China operations with local competitor Naked Hub.[115]
2018 August Acquisition WeWork acquires Designation, a for-profit design school.[116]
2018 September 12 Acquisition WeWork acquires Salt Lake City-based software startup Teem for a reported US$100 million. Teem develops facility management software.[117][118][119]
2018 November Funding WeWork signs a warrant with SoftBank, securing an additional US$3 billion in funding from the Japanese group.[120][121][122]
2019 January Rebranding WeWork decides to change its legal name to We Company. Under the new brand, the startup would consist of three business units. Beyond the existing WeWork entity, the new model includes the spin-offs WeLive, which runs community-oriented coliving "hacker houses" in New York and Arlington, Virginia; and WeGrow, which is more education-focused.[123][124][125]
2019 January Funding The We Company secures an additional US$2 billion from the SoftBank Group.[126]
2019 February 7 Acquisition The We Company acquires tech company Euclid, which provides a platform aimed at observing the movements of people in a workspace.[127][128][129]
2019 April 4 Acquisition The We Company acquires US$249 million valued Managed by Q, an office management platform for tenants to hire on-demand service workers for office-management tasks like cleaning or staffing reception desks.[130][131][132]
2019 April 29 Financial The We Company files confidentially for an Initial public offering.[133][134][135]
2019 May Funding The We Company receives US$575.0 million in Series G funding by Amazon, Fidelity Management and Research Company, Greenoaks Capital, and T. Rowe Price.[136]
2019 June 19 Acquisition The We Company acquires Islands, a digital platform that people can use to communicate with each other.[137][138][139]
2019 June 24 Acquisition The We Company acquires American mobile-focused product agency Prolific Interactive.[140][141][142]
2019 June 25 Acquisition The We Company acquires building access and security management startup Waltz, which offers a mobile app that allows workers to access a building’s turnstiles, elevators, and doors with an electronic pass.[143][144][145][146]
2019 July 18 The Wall Street Journal reports that Adam Neumann has liquidated US$700 million of his WeWork stock before its IPO.[147]
2019 July 30 Acquisition The We Company acquires California-based space and workplace management software vendor SpaceIQ, which provides a cloud-based workplace management platform.[148][149][150]
2019 August 24 Financial The We Company's SEC filing states that the company faces substantial risk in the event of an economic downturn.[151] because the company has US$47 billion of future lease obligations and only $4 billion of future lease commitments.[152]
2019 August 27 Acquisition The We Company acquires rival co-working business, Spacious, a three-year-old, New York-based startup that turns restaurants that sit empty during the day into co-working spaces.[153][154][155][156]
2019 August Financial The We Company filed S-1 paperwork goes public.[157] According to it, WeWork paid US$5.9 million to license the name from an entity called We Holdings owned by Adam Neumann and additional WeWork founders.[158][159]
2019 August Growth As of date, The We Company has 500 locations in 29 countries.[160]
2019 September 4 Leadership The We Company adds its first female director, Harvard Business School professor Frances Frei, to the company's board of directors.[161][162][163][164]
2019 September 17 Financial The We Company decides to postpone its IPO until the end of 2019. In a prepared statement, the company says "The We Company is looking forward to our upcoming IPO, which we expect to be completed by the end of the year"[165][166] It is reported that The We Company may seek a valuation in its upcoming initial public offering of between US$10 billion and $12 billion, in contrast to the $47 billion valuation it achieved in January.[167]
2019 September 24 Divestment The We Company sells the company's $60 million luxurious private Gulfstream G650 that Adam Neumann and his family personalized and used to fly all over the world. Critics say the plane has become a "red flag in the lead up to the company's IPO" and has created perceptual problems with employees who didn't receive promised bonuses or raises.[168]
2019 September 24 Leadership Adam Neumann announces resignment as CEO of The We Company, changing his role as non-executive chairman of the board. Neumann previously faced increasing pressure to relinquish his position after reports highlighted strange behaviors, including drug use and desires to become Israel’s prime minister.[169][170][171][172]
2019 September 27 Divestment According to report in Fortune, The We Company seeks to divest and sell off three businesses acquired in recent years. The three companies are Conductor, Managed by Q, and Meetup. The company also seeks to layoff between 2,000 and 3,000 people to reduce costs. The report also states that approximately 20 long-time friends and family members would be let go from the company.[173]
2019 September Leadership It is announced that Rebekah Neumann would step down as CEO of WeGrow and will relinquish her role in WeCompany.[174]
2019 October 14 Security CNBC reports that WeWork has warned clients that approximately 1,600 office phone booths at some of its offices in Canada and the United States are tainted with formaldehyde. The company says another 700 phone booths would possibly be taken out of service as a precautionary measure. This situation comes to the attention of the company after some members report eye irritation and a strong odor.[175]
2019 October Legal Medina Bardhi, the former chief of staff for Adam Neumann, sues We Company over various allegations including a gender pay gap, marijuana use by company executives, and pregnancy discrimination.[176]
2019 October Expansion (international) The We Company announces the opening of new co-working locations in Singapore and Manila.[177]
2019 November 6 Funding SoftBank Group reports a US$9.2 billion in write-downs on its investments in WeWork. This amount is approximately 90 percent of the $10.3 billion SoftBank invested in WeWork over the past few years.[178]
2019 November Acquisition SoftBank Group takes control of at least 70 percent of the The We Company's equity, and announces plans to spend somewhere between $4 billion and $5 billion on new funding and existing shares. The deal values The We Company between $7.5 billion and $8 billion on a prefunding basis.[179][180]
2019 November Staff WeWork confirms having cut 2,400 jobs in a round of layoffs following its failed IPO attempt.[181]
2019 December Funding The We Company arranges US$1.75 billion credit line with American multinational investment bank Goldman Sachs.[182][183][179]

Meta information on the timeline

How the timeline was built

The initial version of the timeline was written by User:Sebastian.

Funding information for this timeline is available.

What the timeline is still missing

Timeline update strategy

See also

External links

References

  1. Telford, Taylor (September 23, 2019). "Adam Neumann's chaotic energy built WeWork. Now it might cost him his job as CEO.". Washington Post. 
  2. Platt, Eric (July 2, 2019). "WeWork: the 'hypothetical' company at the heart of the property market". Financial Times. Retrieved 26 December 2019. 
  3. Aydin, Rebecca. "WeWork isn't even close to being profitable — it loses $219,000 every hour of every day". Business Insider. Retrieved 26 December 2019. 
  4. "Why We Should Celebrate WeWork's Failed IPO". forbes.com. Retrieved 12 January 2020. 
  5. "WeWork Locations". wework.com. Retrieved 26 December 2019. 
  6. Kosoff, Maya. "How WeWork became the most valuable startup in New York City". businessinsider.com. Retrieved 21 October 2017. 
  7. Sheftell, Jason. "WeWork gives alternative to working at home with swanky buildings across NYC". Daily News. Retrieved 17 October 2017. 
  8. 8.00 8.01 8.02 8.03 8.04 8.05 8.06 8.07 8.08 8.09 8.10 Majewski, Taylor. "A history of WeWork, the multi-billion dollar company taking over NYC". builtinnyc.com. Retrieved 21 October 2017. 
  9. 9.0 9.1 9.2 9.3 9.4 9.5 9.6 9.7 9.8 "Funding Rounds". crunchbase.com. Retrieved 20 October 2017. 
  10. "WeWork lève 355 millions de dollars pour devenir le Uber des bureaux". frenchweb.fr. Retrieved 21 October 2017. 
  11. Sophy, Joshua. "WeWork Coworking Space Raises $355 Million". smallbiztrends.com. Retrieved 21 October 2017. 
  12. "Wework raised $355,000,000 on December 16th, 2014.". whogotfunded.com. Retrieved 21 October 2017. 
  13. Crook, Jordan. "WeWork Partners With Chase To Offer Discounted Commerce Services To Members". techcrunch.com. Retrieved 20 October 2017. 
  14. "WeWork Links With Chase To Offer Discounts Via Paymentech". pymnts.com. Retrieved 20 October 2017. 
  15. "WeWork Partners With Chase". nocamels.com. Retrieved 20 October 2017. 
  16. "WeWork Announces Artie Minson as President and Chief Operating Officer". marketwatch.com. Retrieved 20 October 2017. 
  17. "WeWork Announces Artie Minson as President and Chief Operating Officer". prnewswire.com. Retrieved 20 October 2017. 
  18. Hal Schwartz, Eric. "WeWork Hires Time Warner Cable Exec as New President". americaninno.com. Retrieved 20 October 2017. 
  19. Crook, Jordan. "WeWork's First Acquisition Is Building Information Modeling Firm Case". techcrunch.com. Retrieved 21 October 2017. 
  20. Lau, Wanda. "WeWork Acquires Case Inc.". architectmagazine.com. Retrieved 21 October 2017. 
  21. Stott, Rory. "As WeWork Acquires CASE, the Future of Office Design May Start Today". archdaily.com. Retrieved 21 October 2017. 
  22. Ingalls, Julia. "The design never stops: WeWork acquires Case". archinect.com. Retrieved 21 October 2017. 
  23. "WeWork to Hire Union Cleaners after Pressure from Labor Organizers". seiu32bj.org. Retrieved 20 October 2017. 
  24. "Leading union files complaint against WeWork over cleaners who lost jobs". theguardian.com. Retrieved 20 October 2017. 
  25. Lewis, Cora. "WeWork Goes Union, After Clash With Cleaners". buzzfeed.com. Retrieved 20 October 2017. 
  26. GELLES, DAVID. "At WeWork, an Idealistic Start-Up Clashes With Its Cleaners". nytimes.com. Retrieved 20 October 2017. 
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