By the numbers: The WeWork effect

From the August issue: There’s never a dull moment at WeWork. In 2014, the New York City real estate industry’s jaw dropped when the office-sharing start-up raised $150 million and hit a valuation of $1.5 billion, suddenly catapulting it into “unicorn status.” But less than a year later, it shocked the business world again with another monster fundraising round and new valuation — this one for $5 billion. And last month, it quadrupled that figure. Since launching with a single 3,000-square-foot Soho office seven years ago, the co-working company has racked up more than 155 locations in 49 cities around the world, from Boston to Buenos Aires to Berlin. Its global footprint now stands at more than 9 million square feet. WeWork’s meteoric rise has also spawned copycat companies in NYC and beyond. Even its largest NYC competitor, Regus, which debuted in 1989 and caters to a more corporate crowd, recently launched a hip new brand called Spaces to rival WeWork. Meanwhile, WeWork — which has expanded into co-living, fitness, construction and other areas — announced a leadership shake-up last month. While CEO Adam Neumann will remain at the helm, his co-founder Miguel McKelvey will take on a new role, and Jen Berrent, the company’s attorney, was named COO. Sources say the move was likely in preparation for the company’s anticipated IPO.