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    Wework Report

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    tran quoc viet
    WeWork is a company that provides shared workspaces for entrepreneurs, startups, and businesses. It finds large buildings in prime urban locations and designs collaborative working spaces within them. WeWork then rents these spaces out to members on flexible monthly membership plans. WeWork has grown rapidly since being founded in 2010, expanding to over 500 locations across 29 countries by 2019. Its success is due to providing an inspiring community environment for work, as well as efficiently designing office spaces using data and technology. However, WeWork lost investor confidence in 2019 due to governance issues and lack of a clear path to profitability.

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    Wework Report

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    tran quoc viet
    107 views4 pages
    WeWork is a company that provides shared workspaces for entrepreneurs, startups, and businesses. It finds large buildings in prime urban locations and designs collaborative working spaces within them. WeWork then rents these spaces out to members on flexible monthly membership plans. WeWork has grown rapidly since being founded in 2010, expanding to over 500 locations across 29 countries by 2019. Its success is due to providing an inspiring community environment for work, as well as efficiently designing office spaces using data and technology. However, WeWork lost investor confidence in 2019 due to governance issues and lack of a clear path to profitability.

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    WeWork is a company that provides shared workspaces for entrepreneurs, startups, and businesses. It finds large buildings in prime urban locations and designs collaborative working spaces within them. WeWork then rents these spaces out to members on flexible monthly membership plans. WeWork has grown rapidly since being founded in 2010, expanding to over 500 locations across 29 countries by 2019. Its success is due to providing an inspiring community environment for work, as well as efficiently designing office spaces using data and technology. However, WeWork lost investor confidence in 2019 due to governance issues and lack of a clear path to profitability.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    107 views4 pages

    Wework Report

    Uploaded by

    tran quoc viet
    WeWork is a company that provides shared workspaces for entrepreneurs, startups, and businesses. It finds large buildings in prime urban locations and designs collaborative working spaces within them. WeWork then rents these spaces out to members on flexible monthly membership plans. WeWork has grown rapidly since being founded in 2010, expanding to over 500 locations across 29 countries by 2019. Its success is due to providing an inspiring community environment for work, as well as efficiently designing office spaces using data and technology. However, WeWork lost investor confidence in 2019 due to governance issues and lack of a clear path to profitability.

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    https://www.coworkingresources.

    org/blog/the-wework-business-model

    https://notesmatic.com/five-forces-analysis-of-amazon-inc/

    https://www.slideshare.net/romanaaktara/how-resources-and-capabilities-lead-to-competitive-
    advantages
    WeWork is at the forefront of the shared workspace industry, founded in
    2010 in New York. The business model is simple, it finds large, centrally-
    located buildings where have a big population and signs contracts for five
    to fifteen year then decorates, redesigns and offers coworking spaces to
    entrepreneurs, startup companies, freelancers and big corporarations on a
    monthly or yearly basis. The WE company resources and capacities:
    - Physical: Wework is expanding very quickly and has 527,000
    members at the end of June 2019 , an increase more than 90% from
    2018 with 528 locations, spread across 86 cities in 32 countries. Till
    2018, WeWork manages 46.63 M square feet, more than 5.2 M from
    New York alone. It has the most of its locations in the US with 212
    locations, London has the second most Wework locations after New
    York city. Wework is also expanding in emerging markets, especially
    China, India, Brazil. WeWork has a lot of data and uses software to
    find ideal office locations and layouts. In WeWork’s building, each
    person works in a space of 50 sq ft, compared to 250 sq ft in normal
    office building. Taking advantage of economy of scale and
    technology, the company operates much more effitiently (4 months
    compared with the average of 9 months), it has decreased the cost of
    redesigning offices and reduced price 40% compared with the
    average price. It also exploits those advantages of data and software
    to provide facilities managing services to large coparations such as
    IBM, Verizon,…
    - Financial: WeWork has raised a lot of money from Softbank (nearly
    $11B, given the company valuation at 47B), Harvard Management
    Company, JP Morgan Chase, Goldman Sachs, Fidelity Investments,
    Benchmark, which has been helping it to expand very quickly. The
    company wants to float at the end of 2019 to have more funding for
    its expantions and operations.
    - Human and Brand recognition: WeWork redesigns offices and
    creates all the art on WeWork walls with the help of 450 designers
    and architects around the world. The company has mastered the art
    of telling a story by focusing on entrepreneurialism, creating slogans
    like “do what you love” and “create your life’s work” which makes an
    office does seem like an office.
    Wework definitely are VROI. It brings value to customer by combining all
    the ingredients of a fun, exciting startup to create the atmosphere where
    people can work more productively, flexiblly and having fun with like-
    minded people. The rarity is when one of its biggest competitors IWG
    (Regus) taking conventional approach with slogan “Stay productive”,
    WeWork promotes a sense of community, it even has an ambition to
    build an ecosystem, where people can live in a WeLIve’s place, go to
    work at WeWork, go to gym at “Rise By Me” and go to school at
    “WeGrow”. It is hard to imitate when the company already has many of
    its offices in big prime locations and a relatively high recognizable brand
    with compelling culture. It is also very effitient at redesigning office over
    its competitors.
    The company gets organizational support to building its culture, at the
    same time able to make changes in strategy by targeting enterprise
    clients (29% are enterprises), having longer lease terms with its
    members, starting to buy properties and sharing profit and risk with
    landlords by co-management deals.
    With the valuation of $20B, I would invest in the company. Despite having
    governance problems and the concern about co-founder and CEO Adam
    Neumann over conflict of interest, the company is expanding quickly even
    its alrealy at a large scale and the CEO recently steped down, gave up the
    majority of his power, which could make a change in its governance
    structure. Its long term strategy to focus on enterprise business and
    making co-management deals with landlords place the company at much
    more stable position. At the moment, Wework is massively overspending
    and wants to raise more money because it wants to expand business, if it
    stopped doing it or slowed down to let its locations mature, I believe it
    could soon become profitable. Also at such large scale, WeWork has more
    power over suppliers and its customers. More important, it has half a
    million customers in a potential market of 255M potential customers.
    Finally, Wework has a brand advantage, when consumers think of co-
    working, they think of WeWork. With the back up of many others big
    investors, it is really hard for the company to fail.
    WeWork’s $47 Billion Dream: The Lavishly Funded Startup That Could Disrupt Commercial Real Estate
    https://www.cbinsights.com/research/report/wework-strategy-teardown/#how

    Softbank Needs A $24 Billion WeWork Valuation To Break Even On Its Investment

    https://www.forbes.com/sites/sergeiklebnikov/2019/10/01/softbank-needs-a-24-billion-wework-
    valuation-to-break-even-on-its-investment/#5857917a7fe7

    Would You Invest In WeWork? Here’s the Bull and Bear Case Before Its IPO

    https://fortune.com/2019/09/01/wework-ipo-stock-should-i-buy/

    How Did WeWork Beat Regus?

    https://www.forbes.com/sites/forbestechcouncil/2019/06/14/how-did-wework-beat-
    regus/#28e996374303

    The coworking world: How WeWork, Regus, and Industrious measure up

    https://media.thinknum.com/articles/wework-regus-industrious-coworking-comparison/

    Exploring WeWork's Biggest Competitors

    https://www.coworkingresources.org/blog/the-competitor-of-wework

    The WeWork Business Model

    https://www.coworkingresources.org/blog/the-wework-business-model

    WeWork website

    https://www.wework.com/en-GB

    https://en.wikipedia.org/wiki/WeWork

    https://www.theguardian.com/business/2019/sep/17/wework-delays-ipo-investors-flotation

    https://www.theverge.com/2019/9/24/20882034/wework-ceo-adam-neumann-stepping-down-
    chairman

    CB Insights Research. (2019). The WeWork Report. [online] Available at:


    https://www.cbinsights.com/research/report/wework-strategy-teardown/#investors [Accessed 6 Oct.
    2019].

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