WeWork may abandon WeLive

Co-working giant launched co-living unit in 2016, but never met lofty expectations

National /
Jun.June 08, 2020 04:00 PM
Sandeep Mathrani, the WeLive website and 110 Wall Street (Google Maps)

Sandeep Mathrani, the WeLive website and 110 Wall Street (Google Maps)

WeWork is considering ditching its co-living business.

The Sandeep Mathrani-led firm is working with an adviser on options to hand over operations of its two communal living locations in New York City and outside Washington, D.C., Bloomberg reported.

The talks are in the early stages regarding WeLive, which WeWork launched in 2016. The company at one point had planned to open 36 of the furnished apartments, but never expanded beyond its locations at Rudin Management’s 110 Wall Street and one in Crystal City, Maryland.

WeWork expanded into the residential space under co-founder and former CEO Adam Neumann, along with other lines like the WeGrow daycare and the Rise by We fitness center. But Neumann was ousted after the company’s failed IPO last year, and since then Mathrani has been retooling the business. On Friday, WeWork co-founder Miguel McKelvey announced he was leaving the company.

WeWork ditched plans to open a WeWork/WeLive location in Seattle in October. [Bloomberg] – Rich Bockmann


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
Starcity CEO Jon Dishotsky, Ollie President Gregg Christiansen and Long Island City's Alta Tower (LinkedIn, Alta LIC via Facebook, iStock)

Starcity scoops up co-living rival Ollie’s assets

Starcity scoops up co-living rival Ollie’s assets
Common CEO Brad Hargreaves (iStock; Common)

Repositioning resi: Common’s Brad Hargreaves on the future of co-living and prepping for a WFH world

Repositioning resi: Common’s Brad Hargreaves on the future of co-living and prepping for a WFH world
The mall was already beset by 18 years of starts and stops (Getty)

Can the American Dream mall survive the pandemic?

Can the American Dream mall survive the pandemic?
WeWork CEO Sandeep Mathrani (Getty)

WeWork losses continue but firm sees glimmer of hope

WeWork losses continue but firm sees glimmer of hope
Jennifer Berrent (Getty)

Chief legal officer Jennifer Berrent to leave WeWork

Chief legal officer Jennifer Berrent to leave WeWork
arrow_forward_ios

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

Loading...