WeWork, which promised to revolutionize the way people work alongside one another, announced in a financial filing on Tuesday that it had “substantial doubt” it would stay in business.
That declaration raises questions about not only the company’s viability but also the future of commercial real estate.
Here’s what you need to know about WeWork’s past and prospects.
WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey, tech entrepreneurs who used the funds from the sale of their previous co-working start-up, Green Desk.
WeWork’s vision was to create a “physical social network” that would appeal to a new class of workers who were freelancing or working from home.
Persons:
WeWork, Adam Neumann, Miguel McKelvey
Organizations:
Green