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On August 8, 2023, WeWork warned that it had "substantial doubt" that it can stay in business any longer and announced that it may have to file for Chapter 11 bankruptcy protection. [162] WeWork said it would be trying to control its expenses, as well as reduce its rent and tenancy costs by restructuring and renegotiating leases with landlords.
WeWork has officially emerged from bankruptcy. Once a Wall Street darling promising to revolutionize the world of work, WeWork took a stunning — but anticipated — fall last November when it ...
The company was acquired by WeWork in 2017 and remains headquartered in New York City. [3] WeWork sold it to AlleyCorp, an early stage NY-focused venture fund and incubator, in March 2020. [4] In January 2024, Bending Spoons acquired Meetup. [5] After the acquisition, Meetup introduced a free tier [6] and changed the pricing structure of its ...
WeCrashed is an American drama miniseries that premiered on Apple TV+ on March 18, 2022. Based on the podcast WeCrashed: The Rise and Fall of WeWork by Wondery, it stars Jared Leto and Anne Hathaway as Adam and Rebekah Neumann, the married couple at the heart of WeWork, a coworking space company which claimed a valuation of $47 billion (in an internally produced prospectus) in 2019, before ...
The book received mostly positive reviews from critics for its insight into WeWork's initial success and eventual devaluation. [1] [2] Publishers Weekly wrote that it was "a thrilling page-turner about the fantastic success and subsequent crash of WeWork."
In 2017, McKelvey was named WeWork’s chief culture officer and in 2019, [30] [31] Fast Company named McKelvey one of its Most Creative People. [20] On June 5, 2020, McKelvey announced that he would be leaving WeWork at the end of the month. [32] In 2022, McKelvey purchased a $10m controlling stake in apparel maker American Giant. According to ...
WeWork: Or the Making and Breaking of a $47 Billion Unicorn holds a 77% approval rating on review aggregator website Rotten Tomatoes, based on 56 reviews, with a weighted average of 6.40/10. [7] The film won an News and Documentary Emmy for Outstanding Business and Economic Documentary on September 28, 2022.
Membership costs ranged between $185 and $215 per month for access to a single location and $250 for full access to all locations. [50] [51] In May 2018, The Wing announced it would begin offering scholarships to cover membership fees for a selected few applicants. The scholarships were "aimed at individuals who are currently underrepresented ...