Logo: WeWork, Public domain

WeWork

Flexible workspace provider that leases, builds out and rents shared and private office space.

Flexible workspaceCoworkingCommercial real estateSoftBank-backed

Active^{Source [4]}^{Source [14]}Last verified Oct 2, 2026

About WeWork

WeWork is a flexible workspace provider that leases office buildings and rents private offices, dedicated desks, coworking space and meeting rooms to companies and individuals on flexible terms. It says it has about 600 locations in more than 30 countries and over half a million members.^{Source [8]}

Adam Neumann and Miguel McKelvey started the company in 2010 in New York's SoHo neighborhood after running the Brooklyn coworking space Green Desk. Backed heavily by SoftBank, it grew to 528 locations in 111 cities across 29 countries by mid-2019, with 2018 revenue of $1.82 billion and a net loss of $1.93 billion.^{Source [3]}^{Source [2]}^{Source [1]}^{Source [9]}

A planned 2019 IPO was withdrawn and SoftBank took about 80% ownership in a rescue package. WeWork listed on the NYSE in October 2021 through a SPAC merger, filed for Chapter 11 in November 2023, and emerged on June 11, 2024 as a private company majority owned by a Yardi Systems affiliate, with John Santora as CEO. TIME reports it returned to profitability in 2025 with nearly $2.3 billion in revenue.^{Source [10]}^{Source [6]}^{Source [5]}^{Source [11]}^{Source [4]}^{Source [7]}^{Source [12]}

What happened

Founded in 2010 by Adam Neumann and Miguel McKelvey. The We Company filed for an IPO in August 2019 and withdrew the registration on September 30, 2019, days after Neumann stepped down as CEO; WeWork later became publicly listed on the NYSE in October 2021 through a merger with the SPAC BowX Acquisition Corp. It filed for Chapter 11 on November 6, 2023, emerged on June 11, 2024 as a private company with Yardi Systems as majority owner, and still operates.^{Source [1]}^{Source [10]}^{Source [13]}^{Source [5]}^{Source [11]}^{Source [4]}^{Source [7]}^{Source [14]}

Timeline

2025Returned to profitability with nearly $2.3 billion in revenue.^{Source [12]}
2024-06-12John Santora became CEO.^{Source [4]}
2024-06-11Emerged from Chapter 11 as a private company majority owned by a Yardi Systems affiliate.^{Source [4]}^{Source [7]}
2023-11-06Filed for Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey.^{Source [11]}
2021-10-21Began trading on the NYSE under the ticker WE after merging with BowX Acquisition Corp.^{Source [5]}
2019-10-22Accepted a SoftBank rescue package of up to $8 billion; Marcelo Claure became executive chairman.^{Source [6]}
2019-09-30Withdrew its IPO registration statement.^{Source [10]}
2019-09-24Adam Neumann stepped down as CEO.^{Source [13]}
2019-08-14The We Company filed an S-1 for an IPO.^{Source [1]}
2017Acquired Meetup.^{Source [15]}^{Source [1]}
2016Operated 77 locations across 23 cities with more than 40,000 members.^{Source [2]}
2010Founded by Adam Neumann and Miguel McKelvey; opened its first space in SoHo, New York.^{Source [1]}^{Source [3]}^{Source [2]}

Products and brands

Private offices: Furnished private offices and full-floor offices on flexible terms.^{Source [8]}
Dedicated desks and coworking: Reserved or shared desks in WeWork buildings.^{Source [8]}
WeWork All Access: Membership giving access to many WeWork locations.^{Source [8]}
WeWork On Demand: Pay-as-you-go desks and meeting rooms.^{Source [8]}
WeWork Workplace: Workspace management offering for companies.^{Source [8]}
WeWork Business Address: Virtual office and mailing address service.^{Source [8]}

How it makes money: Leases or manages buildings, fits them out, and earns membership and rental fees from companies and individuals using the space.^{Source [8]}^{Source [1]}

Leadership

John Santora	CEO^{Source [4]}^{Source [12]}	Since 2024
David Tolley	CEO^{Source [4]}	Until 2024
Sandeep Mathrani	CEO^{Source [5]}	Since 2021

Funding and financials

Revenue: Nearly $2.3 billion (2025)^{Source [12]}
Revenue: $1.82 billion (2018)^{Source [1]}
Net loss: $1.93 billion (2018)^{Source [1]}
Valuation: About $8 billion (October 2019 SoftBank deal), down from a $47 billion peak^{Source [6]}^{Source [9]}

Date	Round	Amount	Investors
2019-10	SoftBank rescue package^{Source [6]}	Up to $8 billion	SoftBank Group
2021-10	SPAC merger with BowX Acquisition Corp.^{Source [5]}	About $1.3 billion gross proceeds	BowX trust, Cushman & Wakefield parent backstop, private investors
2024	Bankruptcy exit financing^{Source [7]}	$450 million	Yardi Systems affiliate Cupar Grimmond ($337 million) and senior lenders

Notable acquisitions

Meetup^{Source [15]}^{Source [1]}	2017	About $156 million
Conductor^{Source [15]}^{Source [1]}	2018
Managed by Q^{Source [15]}^{Source [1]}	2019

People on Founded, and where they went next

1 person on record, connected to 4 other companies.

Person	Here	Also built
Adam Neumann	Co-founder, CEO2010 to 2019	Flow2022 to nowActiveFlowcarbon2022Status unknownGreen Desk2008AcquiredKrawlers2006Status unknown

Sources

The We Company, Form S-1 Registration Statement, U.S. Securities and Exchange Commission (EDGAR), 2019-08-14. Accessed Oct 2, 2026.
7 NYC companies that helped lead the coworking movement, Built In NYC, 2016-02-22. Accessed Oct 2, 2026.
Baruch College Confers More Than 4,800 Degrees during 2017 Commencement, Baruch College, 2017-06-05. Accessed Oct 2, 2026.
WeWork Inc., Form 8-K (plan effective date and emergence), U.S. Securities and Exchange Commission (EDGAR), 2024-06-12. Accessed Oct 2, 2026.
WeWork Inc., Form 8-K (completion of business combination with BowX Acquisition Corp.), U.S. Securities and Exchange Commission (EDGAR), 2021-10-26. Accessed Oct 2, 2026.
WeWork confirms an up to $8 billion lifeline from SoftBank Group, names new executive chairman, TechCrunch, 2019-10-22. Accessed Oct 2, 2026.
Yardi To Become WeWork's Majority Owner In $450M Bankruptcy Exit Plan, Bisnow, 2024-04-29. Accessed Oct 2, 2026.
About us, WeWork. Accessed Oct 2, 2026.
The career rise, fall, and attempted return of Adam Neumann, the controversial WeWork cofounder, Business Insider via Yahoo Finance, 2024-02-06. Accessed Oct 2, 2026.
The We Company, Request for Withdrawal of Registration Statement on Form S-1, U.S. Securities and Exchange Commission (EDGAR), 2019-09-30. Accessed Sep 28, 2026.
WeWork Inc., Form 8-K (Chapter 11 petitions), U.S. Securities and Exchange Commission (EDGAR), 2023-11-07. Accessed Oct 2, 2026.
WeWork: 2026 TIME100 Most Influential Companies, TIME, 2026. Accessed Oct 2, 2026.
WeWork CEO Adam Neumann steps down, TechCrunch, 2019-09-24. Accessed Sep 28, 2026.
WeWork news, WeWork. Accessed Oct 2, 2026.
WeWork, Wikipedia. Accessed Oct 2, 2026.

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