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Last Updated:
2024-11-05 05:39:17

WeWork

Provider of coworking spaces
WeWork
WeWork
Provider of coworking spaces

WeWork, headquartered in New York City, offers coworking spaces globally. Despite challenges, it operated in 39 countries with 547,000 members as of December 2022.

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2001
Adam Neumann Moves to the United States

In 2001, Adam Neumann, the future CEO and co-founder of WeWork, relocates to the United States after completing his service as a navy officer in the Israeli military.

2008-05
Expansion of WeWork

In May 2008, WeWork experiences a significant development or event, which may have contributed to its growth or impact in the coworking industry.

2010
Founding of WeWork

WeWork, an American company providing shared workspace, community, and services for entrepreneurs, freelancers, startups, and small businesses, was founded in 2010.

2011-04
Launch of WeWork Labs

WeWork Labs, a startup incubator, is launched within WeWork's network to encourage collaboration among entrepreneurial members.

2012-01-30
WeWork Seed Round Investment

WeWork receives a $6,850,000 investment in its Seed Round funding.

2012-07-01
WeWork Series A Funding Round

WeWork receives a $17,000,000 investment in its Series A funding round.

2013
Series C Funding Round

WeWork secures $150,000,000 in Series C funding round.

2014-12-15
Series D Funding Round

WeWork receives US$355,000,000 in Series D funding round. Investors include T. Rowe Price, Goldman Sachs.

2014-12-16
WeWork raises $355 million

WeWork raised $355 million on December 16th, 2014, to expand its coworking space business.

2015-06-01
Artie Minson Becomes President and COO of WeWork

Artie Minson, the Chief Financial Officer of Time Warner Cable, is announced as the President and Chief Operating Officer of WeWork.

2015-06-25
WeWork Receives Series E Funding

WeWork secures US$433,934,331 in Series E funding round with participation from 4 investors, including Glade Brook Capital Partners.

2016-03-09
Chinese firms Legend Holdings and Hony Capital invest in WeWork Series F funding round

Chinese firms Legend Holdings and Hony Capital invested US$430 million in WeWork Series F funding round, leading to the company’s new valuation at US$16 billion. This investment also aimed to facilitate WeWork’s access to the Chinese market.

2016-03-18
WeWork acquires Welkio

WeWork acquires Welkio, a digital sign-in system for guests at an office, on March 18, 2016.

2016-10-12
WeWork's Series F Funding

Shanghai Jin Jiang International Hotels invests US$260 million in WeWork's Series F round, bringing the total venture capital to $1.7 billion and valuing WeWork at US$16.9 billion.

2017-04-25
Partnership with Zendesk

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.

2017-06-01
Investment in Brave Initiatives

WeWork invests in Brave Initiatives, a non-profit organization that provides programs for high school girls.

2017-06-07
Acquisition of Fieldlens

WeWork acquires Fieldlens, a mobile communication system for the construction industry, in order to help manage construction operations.

2017-07-05
WeWork enters India

WeWork opens a 2,200-seater community workspace in Bangalore, marking its entry into the Indian market.

2017-07-10
WeWork raises US$760 million in Series G funding

WeWork secures US$760 million in a new Series G funding round, leading to a valuation of US$20 billion for the coworking company.

2017-08-06
WeWork opens space in São Paulo

WeWork expands its presence by opening its first space in Brazil, specifically in São Paulo.

2017-08-11
WeWork acquires Singapore-based Spacemob

WeWork acquires Spacemob, a Singapore-based counterpart, to expand its operations in South East Asia.

2017-08-25
Softbank announces investment in WeWork

Japanese telecommunications company Softbank invests US$4.4 billion in WeWork, aiming to fuel the company's expansion in Asia.

2017-10-17
Partnership with Embassy in India

WeWork announced a partnership with real estate firm, Embassy, to expand the co-working brand into India.

2017-10-19
WeWork secures $4.4 Billion in Funding

WeWork is set to expand with a substantial $4.4 billion funding from a Japanese telecom giant, indicating significant growth and investment in the company.

2017-10-20
WeWork Hits $20 Billion Valuation In New Funding Round

WeWork achieved a valuation of $20 billion in a new funding round, reflecting its rapid growth and strong investor confidence in its business model and potential for further expansion.

2017-10-21
WeWork becomes the most valuable startup in New York City

WeWork achieved the status of being the most valuable startup in New York City by offering innovative and attractive working spaces.

2017-10-25
WeWork Enters India, Launches 2,200 Member Capacity Coworking Space In Bengaluru

WeWork, the world's largest co-working startup, expanded its operations to India by launching a large coworking space in Bengaluru with a capacity of 2,200 members.

2017-11-05
Launch of WeGrow

Rebekah Neumann, spouse of Adam Neumann, announces the launch of WeGrow, a private school for children aged 3 through students in grade 4. The first permanent location is set up in WeWork's New York headquarters, with a focus on teaching entrepreneurship to young students through classes on sales techniques, brand-building, and supply and demand.

2017-11-06
WeWork acquires Meetup

WeWork pays US$200 million to acquire social networking service Meetup, which allows people to create, organize, and join groups around specific interests for hosting events.

2017-11-08
Launch of WeWork's Kindergarten School

WeWork founder plans to establish a school to guide 5-year-olds in finding their life's purpose.

2017-11-15
WeWork Acquires Spacemob

WeWork, a co-working unicorn, acquired local counterpart Spacemob to expand its presence in Southeast Asia as part of a US$500M investment.

2018-04-11
WeWork acquires Naked Hub

WeWork acquires Chinese coworking company Naked Hub, which has 10,000 members in 24 locations, similar in size to WeWork's presence in China.

2018-05-16
WeWork's WeGrow acquires MissionU

WeWork's elementary school WeGrow acquires MissionU, a vocational bootcamp for students ages 19-25, preparing them for business intelligence jobs.

2018-08-28
WeWork Acquires Chicago Design School

WeWork acquired a design school in Chicago in August 2018.

2018-09-12
Acquisition of Teem

WeWork acquires Salt Lake City-based software startup Teem for a reported US$100 million. Teem develops facility management software.

2019-01-08
WeWork Raises Additional Capital From SoftBank

WeWork secures additional funding from SoftBank to support its operations and expansion.

2019-01-09
WeWork Series H Funding Round

WeWork raised $1 billion in its Series H round, led by Softbank, bringing the company’s total funding to $12.8 billion and giving it a valuation of $47 billion.

2019-02-07
The We Company acquires Euclid

On February 7, 2019, The We Company acquires tech company Euclid, which specializes in observing people's movements in a workspace.

2019-04-29
WeWork files draft registration statement for IPO

On April 29, 2019, WeWork filed a draft registration statement for a proposed initial public offering (IPO), indicating the company's intention to go public.

2019-08-14
WeWork files Form S-1 revealing significant losses

On August 14, 2019, WeWork filed Form S-1, disclosing substantial losses, expensive lease agreements, and a complex relationship with founder Adam Neumann.

2019-08-15
Form S-1 Registration Statement

On August 15, 2019, WeWork submitted its Form S-1 registration statement to the United States Securities and Exchange Commission, providing crucial financial and operational information.

2019-08-16
WeWork described as a Soap Opera

An article from The Verge described WeWork as a soap opera rather than a tech company, shedding light on the internal issues and controversies within the company.

2019-08-27
WeWork acquires Spacious

WeWork acquired Spacious on August 27, 2019. Spacious leased unused space from restaurants during daytime hours and rented it to remote workers. However, Spacious was shut down in December 2019.

2019-09-05
WeWork Valuation Drops

Bloomberg reported that WeWork aimed for an IPO valuation of $20-30 billion, significantly lower than its previous private valuation of $47 billion. The company planned to start its IPO roadshow and aimed for a share sale of $3.5 billion.

2019-09-09
Pressure from Softbank

There was pressure from Softbank on WeWork for undisclosed reasons.

2019-09-13
Corporate Governance Changes

WeWork disclosed alterations to its corporate governance in a recent regulatory filing, such as diminishing Neumann's voting authority and eliminating the provision allowing his wife to influence his successor in the event of his death.

2019-09-17
WeWork delays IPO

WeWork postpones its initial public offering (IPO) due to a negative response from investors, leading to a significant setback for the company.

2019-09-24
Adam Neumann resigns as CEO of WeWork

On September 24, 2019, under mounting pressure from investors, WeWork's co-founder Adam Neumann resigned as CEO and relinquished majority voting control in the company.

2019-09-30
WeWork Delays IPO

WeWork announces the indefinite delay of its initial public offering, citing plans to eventually go public but postponing the IPO due to undisclosed reasons.

2019-10-01
WeWork’s IPO Implosion

A timeline of WeWork’s decline in the process of going public, illustrating the rapid negative turn in the company's direction.

2019-10-10
Expansion of WeWork in Singapore and Manila

WeWork announced the opening of new co-working sites in Singapore and Manila.

2019-10-14
Formaldehyde Contamination in WeWork Phone Booths

WeWork informed its members about the contamination of over 1,600 office phone booths with formaldehyde.

2019-10-31
Allegations of Gender Discrimination Against Ex-WeWork CEO

The former CEO of WeWork was accused of gender discrimination and smoking marijuana in front of a pregnant employee.

2019-11-06
SoftBank reports $9.2 billion write-down on WeWork investments

On November 6, 2019, SoftBank Group reported $9.2 billion in write-downs on its investments in WeWork, amounting to approximately 90% of its total investment in the company over the previous years.

2019-12-26
The We Company files confidentially for IPO

The We Company, also known as WeWork, files confidentially for Initial Public Offering (IPO).

2019-12-27
WeWork invests $200 million in Meetup

WeWork, a startup valued at $20 billion, allocates $200 million for the acquisition of Meetup, a social networking platform, as part of its expansion strategy.

2019-12-31
SoftBank takes control of WeWork

SoftBank acquires majority control of WeWork, indicating a significant shift in the company's ownership and management.

2020-01-03
SoftBank invests $3 billion in WeWork

SoftBank has provided an additional $3 billion in funding to WeWork, potentially valuing the company at around $42 billion.

2020-02-01
Sandeep Mathrani appointed as CEO of WeWork

On February 1, 2020, WeWork announced the appointment of Sandeep Mathrani as the new CEO of the company, effective February 18, 2020.

2021-03-26
WeWork's merger with BowX Acquisition Corp.

On March 26, 2021, WeWork announced a merger with BowX Acquisition Corp., leading to WeWork's public listing with a valuation of about $9 billion.

2021-04-18
WeWork and Coworking

Information related to WeWork and coworking was accessed on April 18, 2021, through Google Trends and books.google.com.

2021-10-21
WeWork went public at a $9 billion valuation

WeWork went public at a $9 billion valuation after merging with special purpose acquisition company BowX Acquisition Corp., and saw its shares rise 13% despite filings showing the company was losing billions of dollars.

2022-07-19
WeWork Workplace space management software launch

On July 19, 2022, WeWork introduced its Workplace space management software developed in partnership with real estate software provider Yardi.

2022-11-10
WeWork's plan to close underperforming shared office locations

In November 10, 2022, WeWork announced its intention to shut down 40 underperforming shared office locations in the U.S.

2023-03-17
WeWork's financial restructuring announcement

On March 17, 2023, WeWork revealed a financial restructuring plan involving debt reduction and over $1 billion in new funding and capital commitments.

2023-05-16
Sandeep Mathrani Steps Down as WeWork CEO

On May 16, 2023, WeWork announced that Sandeep Mathrani was stepping down as CEO, and David Tolley was named as the interim CEO.

2023-08-08
WeWork's Warning on Financial Stability

By August 8, 2023, WeWork issued a warning about the substantial doubt regarding the company's ability to continue as a going concern unless it could enhance liquidity and profitability within the following 12 months.

2023-09-01
WeWork Completes Reverse Stock Split

On September 1, 2023, WeWork completed a 1-for-40 reverse stock split after its shares slumped to below $1 each, putting the company at risk of being delisted from the New York Stock Exchange.

2023-09-06
WeWork announced plans to renegotiate leases and cut operating costs

WeWork announced its plans to renegotiate 'nearly all' of its leases by leaving 'unfit and underperforming locations' and reinvesting in better-performing markets to cut operating costs and continue running 'for many years to come.'

2023-10-16
David Tolley Named Permanent CEO of WeWork

WeWork appointed David Tolley, a former Blackstone Group executive, as the permanent CEO on October 16, 2023.

2023-10-31
Preparation for Chapter 11 Bankruptcy

On October 31, 2023, WeWork announced that it would be preparing to file for Chapter 11 bankruptcy as its forbearance agreement with its creditors was scheduled to terminate effective November 6.

2023-11-06
WeWork Files for Bankruptcy

On November 6, 2023, WeWork, the company credited with popularizing coworking space, filed for bankruptcy and sought court protection from creditors after a move to renegotiate nearly all its leases.

2023-11-07
WeWork's Bankruptcy

WeWork, once valued at $47 billion, has faced a significant downfall leading to bankruptcy. The company's rise and fall is a notable event in the business world.

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WeWork
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