WeWork
Proptech/CoworkingUSA
New to Unitard
💀 Dead / Bankrupt
Peak $47 BillionToday
~-99%
from peak
- 🦄Became a unicorn2014
- 📈Peak valuation$47 Billion ’19
- 💔Became a UnitardNov 2023
- 💸Last valuationWiped out
🔥 Raised & burned
$22B
Total raised
$4.5M/day
Burned · 13.4y alive
Funding: TechCrunch/Wikipedia (widely cited ~$22B)
Current status
Chapter 11 (Nov 2023); reorganized private
The rise & fall
11 moments · 2010–2023The key moments, with employee sentiment along the way.
2010
2010
Founded in SoHo, New York
Adam Neumann and Miguel McKelvey start renting out desks with tech-startup branding.
Wikipedia
Feb 2014
Feb 2014
Joins the unicorn club$1.5B
A JPMorgan-led round makes the four-year-old desk-rental company a unicorn.
WSJ
Jan 2019
Jan 2019
The peak: SoftBank tops up$47B
SoftBank's latest investment values the rebranded “We Company” at $47B.
Reuters
Aug 2019
Aug 2019
The S-1 lands
The IPO filing reveals $1.6B annual losses and founder self-dealing; “community-adjusted EBITDA” becomes a punchline.
SEC S-1
Sep 2019
Sep 2019
IPO pulled; Neumann out
Valuation talk sinks toward $10B before the listing is shelved; a SoftBank rescue follows at ~$8B.
Reuters
Oct 2021
Oct 2021
Second life as a SPAC$9B
Lists via the BowX SPAC at roughly a fifth of its peak valuation.
CNBC
2020–23
From the inside · Glassdoor reviews, 2020–23
Glassdoor reviews chart the grind: community teams described being cut to a fraction of pre-COVID levels and running whole buildings alone, while the 401(k) match and perks were stripped and equity went worthless.
Aug 2023
Aug 2023
“Going concern” doubt
Shares slip under $1 as the company flags substantial doubt it can continue operating.
SEC 8-K
Nov 6 ’23
Nov 6 ’23
Chapter 11 — joins the Unitard Club 💔
Files for bankruptcy in New Jersey and reorganizes as a private company.
Court filing
$46.5Bof peak value erased · 13 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
WeWork rented and subleased flexible office space under tech-startup branding, peaking at a ~$47B private valuation in early 2019 on SoftBank funding. A failed 2019 IPO exposed mounting losses and governance problems, ousting founder Adam Neumann and slashing its value. After a 2021 SPAC listing near $9B, it filed for Chapter 11 in November 2023 and reorganized as a private company.
Source: Fortune/Reuters; SPAC value ~$9B 2021
Where they went
- Adam Neumannco-founder & CEO (led at peak, ousted 2019)Founder & CEO at Flow
- Miguel McKelveyco-founder & chief culture officerCo-Founder at UK50 Basketball
- Rebekah Neumannco-founder (credited in the IPO prospectus); chief brand & impact officerNot on record
Current roles as self-reported on LinkedIn, except where a source is linked, retrieved 2026-08-19. See our methodology.
