WeWork Inc.
Company History
WeWork History: Founding, Growth & Key Milestones
Founded 2010 in New York, New York, United States
When was WeWork founded?
WeWork was founded in 2010 in New York, New York, United States by Adam Neumann, Miguel McKelvey and Rebekah Neumann, making it 16 years old.
- Founded
- 2010
- Founding place
- New York, New York, United States
- Founders
- Adam Neumann, Miguel McKelvey and Rebekah Neumann
- Headquarters today
- New York, New York, United States
- Milestones documented
- 12 (2010–2026)
- Current CEO
- John Santora
- Acquisitions
- 10
| Year | Event |
|---|---|
| 2010 | WeWork founded |
| 2017 | SoftBank Vision Fund investment |
| 2017 | Flatiron School Acquired |
| 2019 | IPO withdrawn and Neumann resigns |
| 2019 | Artie Minson and Sebastian Gunningham becomes co-CEO |
| 2019 | $47 Billion Valuation |
| 2020 | Sandeep Mathrani becomes CEO |
| 2021 | SPAC listing |
| 2023 | Chapter 11 filing |
| 2024 | Emergence and new CEO |
| 2025 | 245 Fifth Avenue lease |
| 2026 | WeWork Go launch |
- Where was WeWork founded?
- WeWork was founded in New York, New York, United States in 2010.
- Who founded WeWork?
- WeWork was founded by Adam Neumann, Miguel McKelvey and Rebekah Neumann.
- When did WeWork start?
- WeWork was founded in 2010.
- How old is WeWork?
- WeWork is 16 years old as of 2026.
Founding Story
Adam Neumann and Miguel McKelvey started GreenDesk, an eco-friendly coworking space in Brooklyn, in 2008. In 2010 they sold it and founded WeWork, whose first location in SoHo, Manhattan opened in April 2011. The company expanded quickly in New York and then internationally, raising money from Benchmark, JPMorgan, T. Rowe Price, and others. SoftBank's Vision Fund invested $4.4 billion in 2017, and a January 2019 SoftBank investment valued WeWork at $47 billion. The August 2019 S-1 filing showed heavy losses, large lease obligations, and governance arrangements that favored Neumann, including a $5.9 million payment for the "We" trademark. Investors balked, the IPO was withdrawn in September 2019, and Neumann resigned as CEO. WeWork later listed through a merger with BowX Acquisition Corp. in October 2021 but filed for Chapter 11 two years later.
Founders
Adam Neumann
Adam Neumann co-founded WeWork in 2010 and was CEO until September 2019. He led its rapid expansion and fundraising, including SoftBank's 2017 and 2019 investments. Governance problems disclosed in the 2019 S-1 led investors to force his resignation, and he later received a SoftBank package reported at about $1.7 billion. During the 2024 bankruptcy he made an unsuccessful bid to buy back the company. Adam Neumann was born in 1979 in Beersheba. Education: Baruch College; Zicklin School of Business.
Miguel McKelvey
Miguel McKelvey (born 1974) co-founded WeWork in 2010. As the Chief Culture Officer and lead architect, he was responsible for the distinct, highly aesthetic interior design that defined WeWork's brand globally. He managed the physical build-out of hundreds of locations before stepping down in 2020 following the company's failed IPO. Education: University of Oregon; South Eugene High School. McKelvey is an American businessman born in 1974 and is described as WeWork's former chief culture officer.
Rebekah Neumann
Rebekah Neumann was described in WeWork's 2019 IPO filing as a co-founder and served as Chief Brand & Impact Officer. She also led WeGrow, the company's private school, and resigned as its CEO in September 2019. (Exact birth year remains publicly undisclosed).
Key Milestones
WeWork founded
Adam Neumann and Miguel McKelvey founded WeWork after selling GreenDesk.
Source: en.wikipedia.orgSoftBank Vision Fund investment
SoftBank's Vision Fund invested $4.4 billion at a valuation of about $20 billion.
Source: en.wikipedia.orgFlatiron School Acquired
WeWork bought the coding academy Flatiron School in October 2017.
Source: en.wikipedia.orgIPO withdrawn and Neumann resigns
WeWork withdrew its S-1 in September 2019 and Neumann stepped down as CEO.
Source: en.wikipedia.orgArtie Minson and Sebastian Gunningham becomes co-CEO
Artie Minson and Sebastian Gunningham became co-CEO of WeWork in 2019. Ran the company after Neumann's resignation in September 2019 and oversaw layoffs and asset sales.
Source: en.wikipedia.org$47 Billion Valuation
SoftBank invested a further $2 billion in WeWork in January 2019 at a $47 billion valuation.
Source: en.wikipedia.orgSandeep Mathrani becomes CEO
Sandeep Mathrani became CEO of WeWork in 2020. Cut costs, exited leases, and took WeWork public through the 2021 BowX SPAC merger.
Source: en.wikipedia.orgSPAC listing
WeWork began trading on the NYSE in October 2021 after merging with BowX Acquisition Corp.
Source: en.wikipedia.orgChapter 11 filing
WeWork filed for Chapter 11 on November 6, 2023 in New Jersey.
Source: en.wikipedia.orgEmergence and new CEO
WeWork emerged on June 11, 2024 under Yardi-led ownership and named John Santora CEO; it also sold its WeWork India stake to Embassy Group.
Source: businesswire.com245 Fifth Avenue lease
WeWork signed a 55,000 square foot lease with The Moinian Group at 245 Fifth Avenue in Manhattan in August 2025.
Source: wework.comMajor Acquisitions
CASE
2015Real estate and construction technology consultancy; WeWork's first acquisition, in August 2015.
Flatiron School
2017Coding school acquired in October 2017 and sold in June 2020.
Meetup
2017Community events platform acquired in November 2017 for about $156 million and sold at a loss in 2020.
Conductor
2018Marketing software company acquired in March 2018; its executives bought it back in December 2019.
Naked Hub
2018Chinese coworking operator acquired in April 2018 for about $400 million.
MissionU
2018College-alternative startup acquired for $4 million in stock in May 2018 and wound down soon after.
Teem
2018Office management software acquired in September 2018 for $100 million and later sold to iOffice.
Managed by Q
2019Office services marketplace acquired in April 2019 and sold at a loss in March 2020.
Spacious
2019Startup that rented daytime restaurant space to remote workers; acquired in August 2019 and shut down in December 2019.
Common Desk
2022Dallas-Fort Worth coworking operator acquired in January 2022.
Keep researching WeWork
WeWork Company History FAQ
When and where was WeWork originally founded?
WeWork was founded in 2010 in New York, New York, by Adam Neumann, Miguel McKelvey, and Rebekah Neumann, opening its first shared workspace location at 154 Grand Street in Manhattan.
How did WeWork achieve a private valuation of $47 billion?
Backed by massive capital infusions from SoftBank and Masayoshi Son's Vision Fund totaling over $10 billion, WeWork expanded aggressively across 30+ countries, reaching a peak private valuation of $47 billion in January 2019.
Why did WeWork's initial public offering (IPO) collapse in 2019?
WeWork's August 2019 S-1 prospectus revealed staggering net losses ($1.6 billion on $1.8 billion revenue), $47 billion in long-term lease liabilities, bizarre corporate governance, and self-dealing by CEO Adam Neumann.
When was Adam Neumann ousted from WeWork?
In September 2019, under intense pressure from SoftBank and public scrutiny, Adam Neumann resigned as CEO and relinquished control in exchange for a controversial multi-million-dollar exit package.
How did WeWork eventually go public in 2021?
WeWork went public in October 2021 by merging with a special purpose acquisition company (SPAC), BowX Acquisition Corp, at a humbled valuation of approximately $9 billion under CEO Sandeep Mathrani.
Why did WeWork file for Chapter 11 bankruptcy in November 2023?
Burdened by expensive pre-pandemic commercial leases, post-COVID remote work vacancies, and unsustainable corporate debt, WeWork filed for Chapter 11 bankruptcy in New Jersey on November 6, 2023.
When did WeWork emerge from bankruptcy and who owns it now?
WeWork emerged from Chapter 11 on June 11, 2024, as a private, restructured company after eliminating $4 billion in debt, shedding over 190 unprofitable leases, and securing majority backing from Yardi Systems.
Who was appointed CEO of WeWork upon its 2024 bankruptcy exit?
Commercial real estate industry veteran John Santora, former Global Chief Operating Officer and Tri-State Chairman at Cushman & Wakefield, was appointed CEO of the restructured private company in June 2024.
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