WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey with the primary objective of providing shared workspaces catered to freelancers, startups, and companies seeking “flexible office solutions.” Pulling together data from Business Insider, YCharts, SEC Filings, and Crunchbase we follow the rise and fall of WeWork since 2011. “Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern.” - WeWork, SEC filing, August 8th, 2023.īut how did the once-poster child of Silicon Valley end up seeing its valuation collapse more than 99% from its peak? Despite its recommitment to core business fundamentals in the last few years, WeWork’s management-which saw a shakeup in May 2023 when CEO Sandeep Mathrani departed-is setting off a signal flare about the company’s future.
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