WeWork was founded in 2010 by friends and business partners Adam Neumann and Miguel McKelvey. Office space in New York is extremely expensive and finding, furnishing, and maintaining a nice office in an upscale neighborhood was out of the question for most small businesses.
This led Neumann and McKelvey to offer shared office space for entrepreneurs, start-up companies, or even for larger companies who want a satellite office but don’t want to pay for expensive office for only a handful of employees, such as PepsiCo, who rented space in 2011.
WeWork investors included J.P. Morgan, Wellington Management, Goldman Sachs, and Benchmark. Starting off with a single building in New York’s SoHo district, the company now has 270 locations in 90 cities. In July 2017, the company announced that it would expand into China and later that year, that it would expand into Southeast Asia.
Early in 2017, WeWork opened an online store which offers its clients software and discounts on
In November of 2017, the company acquired MeetUp and a few months later, acquired Conductor.