Here’s how much WeWork made last year

Co-working giant grew revenues

New York /
Feb.February 26, 2018 01:50 PM

Artie Minson and WeWork’s Park South location

WeWork TRData LogoTINY grew its revenue to around $900 million in 2017, according to the company’s president Artie Minson.

In 2016 the company expected to generate $532 million in revenue, according to documents produced in April of that year that were later leaked to the press.

Minson told Bloomberg that WeWork hopes to double its membership from a current 200,000 to around 400,000 by the end of 2018 and to double the number of locations around the globe to around 400. The company hopes make at least $2.3 billion in revenue next year.

Despite the rapid growth, Minson said there is no plan for an IPO in the near future. “We are running the company with all the practices that a public company would run with, but no timing has been set,” he said. He added that the $4.4 billion investment from Japanese conglomerate SoftBank, which closed in August, allowed some earlier investors and employees to sell shares.

WeWork has branched out from its core co-working business into apartments, kindergartens, gymnasiums and other ventures.  [Bloomberg]Konrad Putzier


Related Articles

arrow_forward_ios
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
WeWork’s side businesses are fizzling
WeWork’s side businesses are fizzling
Sarah Pontius (Credit: Union College)
Another head rolls at WeWork
Another head rolls at WeWork
Claudio Del Vecchio has owned Brooks Brothers since 2001. (Getty)
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Brooks Brothers’ Madison Ave store could give way to Midtown East tower
Gov. Andrew Cuomo (Getty)
Industry reacts to Cuomo’s proposed commercial eviction ban
Industry reacts to Cuomo’s proposed commercial eviction ban
Merchants Hospitality Inks Club Deal at Cachet Hotel (Google Maps, Playboy Club)
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Nightlife veteran John Blair inks deal for Hell’s Kitchen club
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Financial disclosures show extent of Trump Org losses
Developers pitch New York City casino
Developers pitch New York City casino
Developers pitch New York City casino
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...