WeWork

If you live or exertion in a big city, you’ve perhaps entered one of the 178 WeWork locations.

Either because your office is there or because you know someone who works at a WeWork.

Suppose, for some reason. However, you are not yet familiar with the concept. In that case, his main business is to rent shared office space to clients who need a part-time desk or to companies looking for an alternative contract to the traditional annual contract.

It seems that the company is everywhere. Last year, they launched a kind of dorm called WeLive and recently added a Rise fitness space that costs $ 180 a month.

Collaborative education

  • Both WeWork founders, Miguel McKelvey and Adam Neumann grew up in cooperatives. McKelvey grew up in Oregon, and Neumann grew up in a kibbutz (an agricultural community) in Israel.
  • It explains why they founded a coworking company in which the collaborative environment is key to its operation.
  • WeWork is Neumann’s third attempt in the business world. His first venture was a women’s shoe with retractable heels, but it didn’t take off. The second was Krawlers, baby clothes with knee pads included.

Casual

  • Neumann is married to Rebekah Paltrow Neumann, the cousin of actress Gwyneth Paltrow (Rebekah is also a founder of Goop and a judge on Apple’s Planet of the Apps program ). They have 5 children.

New York roots

  • WeWork’s first location opened in February 2010 in SoHo, a neighborhood in Manhattan.0
  • A second location followed it in New York before expanding to San Francisco. WeWork arrived in London in October 2014, and its # 100 location opened in November 2016 in Berlin, Germany.

Fast growth

  • WeWork started with two locations in 2010 and doubled that by 2011. By 2014 they already had 23 locations in eight cities.
  • The last three years have seen short-tempered growth, reaching 55 zones in 2015, 111 locations in 2016, and 178 sites (in 56 cities in 18 countries) in 2017 (November 2017).
  • The most recent cities include Beijing, Mumbai, and Haifa in Israel.

Your customer base

  • WeWork closed its first year of business with 1,000 members. By the end of 2017, they had 15 times more, renting 30 million square meters of space.
  • It has more than 20,000 companies as clients, being the fastest-growing segment with companies with more than 1,000 employees.
  • Companies of that size consolidate a fifth of WeWork’s customer base, including some big names like Microsoft, Salesforce, Samsung, Spotify, Starbucks, Pinterest, and FB.
  • Imagine the amount of free coffee and beer those tenants receive

In expansion

  • And not only is WeWork having huge companies as clients, but it manages exclusive offices for several of them.
  • Giving to Backchannel, WeWork runs an entire building for IBM in New York, Airbnb’s offices in Berlin, and Amazon’s in Boston. WeWork sees this model as a growing business for the company.

A big team

  • As of October 2017, WeWork had just over 3,000 employees that comprise more than 400 authorities such as architects, interior designers, graphic artists, and builders.

Raw material

  • WeWork not only goes and buys properties that it then rents out, but it also gives space a cat’s hand before opening its doors.
  • The company says it has used 3.6 million square meters of glass, 228,000 square meters of carpet, 2.6 square meters of hardwood flooring, and 4.3 million aluminum kilos in the last 7 years.
  • It has also installed 12,000 phone booths.

Tracking software

  • According to Backchannel, WeWork relies on technology to manage its locations.
  • The New York headquarters has a touch screen that allows WeWork employees to get real-time information from coworking spaces worldwide.
  • The data is so accurate that it includes data such as when was the last time the air filters were changing and how many meeting rooms are occupying in a given building.

Space for Facebook

  • According to the Business Journal, WeWork’s largest space, at 137,000 square meters in Mountain View, California, will be occupied solely and exclusively by Facebook.
  • We previously knew that WeWork would rent one building from Facebook and leave the other for smaller clients.
  • But now we know that the social media giant will occupy the two 8-story buildings.

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