![]() ![]() In October 2019, Neumann received close to US$1.7 billion from stakeholder SoftBank for stepping down from WeWork's board and severing most of his ties to the company. As of August 2023, the company had a market capitalization of $326 million. At that time, the reported public valuation of the company was around US$10 billion, a reduction from the $47 billion valuation it had achieved in January and less than the $12.8 billion it had raised since 2010. ![]() Amid growing investor concerns over its corporate governance, valuation, and outlook for the business, the company formally withdrew its S-1 filing and announced the postponing of its IPO. The following month, facing mounting pressure from investors based on disclosures in the S-1, company co-founder Adam Neumann resigned from his position as CEO and gave up majority voting control. ![]() The We Company filed its Form S-1 for the IPO in August 2019. The Wall Street Journal noted that, on the release of its public prospectus in August 2019, the company was "besieged with criticism over its governance, business model, and ability to turn a profit". In 2019 the initial public offering (IPO) of its then-parent company, The We Company failed. As of December 31, 2022, the company operated 43.9 million square feet (4,080,000 m 2) of space, including 18.3 million square feet (1,700,000 m 2) in the United States and Canada, in 779 locations in 39 countries, and had 547,000 members, with a weighted average commitment term of 19 months. is a provider of coworking spaces, including physical and virtual shared spaces, headquartered in New York City. The kitchen area at the WeWork location on Broad Street in Manhattan WeWork location in San Francisco WeWork location in Jongno Tower WeWork location, 1 University Avenue, Toronto WeWork location on Rhode Island Avenue in Washington, D.C. ![]()
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