Here’s how much WeWork made last year

Co-working giant grew revenues

TRD 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
With many tech companies open to long-term remote work for their employees, questions are being asked about how that will impact the office and residential markets in hubs of tech talent. (iStock)

TRD Insights: What #WFH could mean for office and resi costs in tech hubs

TRD Insights: What #WFH could mean for office and resi costs in tech hubs
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Sandeep Mathrani (WeWork, iStock)

WeWork offers pay-as-you-go workspaces

WeWork offers pay-as-you-go workspaces
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
Newmark’s Brian Waterman with 7 Hanover Square (Google Maps, Twitter)

Newmark nabs REBNY prize for deal with NYC Health + Hospitals

Newmark nabs REBNY prize for deal with NYC Health + Hospitals
arrow_forward_ios

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

Loading...