Is WeWork Profitable 2024?

WeWork is a company that was once valued at $47 billion and attracted major banks like JPMorgan Chase, and blue-chip investors like SoftBank and Benchmarks. Now if this made you wonder: Is WeWork Profitable? then you have landed on the right page.

Is WeWork Profitable

So, let’s begin our guide by first understanding what is WeWork, notable timelines of the company and its profitability.

What Is WeWork?

WeWork is a company headquartred in New York city, United States. It is a company that provides coworking spaces including both physical and virtual shared spaces.

The company was founded in 2010, when Israeli Adam Neumann and American Miguel Mckelvey sold their business named ‘GreenDesk’ and founded WeWork.

WeWork is a company that was once valued at $47 billion and attracted blue-chip investors like SoftBank, Benchmarks and JPMorgan Chase.

Timeline Of WeWork’s Financial Growth And Funding

Here is a timeline showing some notable events that impacted the growth and funding of WeWork:

2010: Adam Neumann and Miguel Mckelvey eastblished WeWork.

2011-2017: The company started expanding its operations by launching new coworking spaces in different locations. Then in 2015, it raised $434 million in a funding round spearheaded by Fidelity Managemnet and Reasearch Company. By 2017, WeWork was coninuing to penetrate the new market to hit $20 billion in valuation.

2018-2019: WeWork’s valauation rose to $47 billion. This made the company one of the valuable startups globally. In 2019, the company decided to file for IPO but faced scrutiny and criticim over its governance structure, leaderships and financials.

The IPO plans was deferred in the year and teh CEO, Adam Neumann was stepped down from his position.

2019-2020: With the company reporting significant losses the financial struggles of the company worsen. The COVID-19 also contributed in the downfall of WeWork.

In 2020, SoftBank which is the largest investor of WeWork, offered $1.1 billion bailout package to support the operations of the company.

2021: WeWork announces its plans to go public through a merger with a special purpose acquisition (SPA) called BowX Acquisition Corp.

2023: WeWork filed for Chapter 11 bankruptcy protection.

Is WeWork Profitable?

Revenue And Net Loss Of WeWork

WeWork was once a hot, venture-backed company. It was not until it filed to go public that people really learned how WeWork managed to have impressive growth rates.

It went from $436.1 million in 2016 to $886 million in 2017, then $1.82 billion in 2018, and $1.54 billion in the first half of 2019.

However, this growth came at a massive cost. The company’s operating losses swelled from $931.8 million in 2017 to $1.69 billion in 2018. In 2022, the company lost $635 million in the second quarter, which was $238 million more than in the year 2023.

As a result, the company was forced to file for Chapter 11 bankruptcy protection in the United States.

Moreover, WeWork admitted in a press release that the company’s ability to continue as a going concern is possible upon successfully executing the management strategy to improve liquidity and profitability over the next 12 months.

Therefore, WeWork is not a profitable company as it once was before going public.

What Led To The Downfall Of WeWork?

The journey of WeWork’s downfall began when in 2019, WeWork attempted to launch an IPO with Neumann as CEO. The parent company, We Company spent several months to prepare for the IPO.

However, the deal failed miserably after some investors showed concerns about the company’s larges losses and were hesitant due to Neumann’s management style and corporate government shortcomings.

Then by October 2021, WeWork’s value plummeted to $10 billion before going public. Moreover, the company’s rise and fall was turned into a tv show called “WeCrashed”.

Financial Performance Of WeWork

WeWork’s Financial Performance: Revenue (In Millions)

Financial Performance Of WeWork: Revenue

WeWork’s Financial Performance: Profit (In Millions)

Financial Performance Of WeWork: Profit

What Is The Potential For Profitability Of WeWork?

As we know that WeWork’s primary source of revenue is leasing office spaces. But the company can also expand into adjacent markets and offer aditional services.

The company can diversify by leveraging its extensive markets, exploring partnerships, introducing value-added services and tapping into emerging trends like remote work solutions or enterprise-focused offerings.

To become profitable, WeWork must focus on operational efficiency and cost otimization.


Is WeWork Profit 2024? is a tricky question to answer as the company recently filed for bankruptcy protection. WeWork was once a company that was valued at $47 billion and attracted many major banks and blue-chip investors.

However, things soon started to escalate for the company after it filed to go public. And as of now it filed for bankruptcy.

But bankruptcy doesn’t mean that the company is closing entirely. In fact, WeWork has started to apply new startegies such as laser focus on member retention and growth, double down on real estate portfolio and taking measures to reduce operating costs.


Is WeWork in financial trouble?

Yes, WeWork is in financial trouble. The trouble started in 2019 and after that the company faced constant loss to the point that it has now filed for bankruptcy.

Does SoftBank still owns WeWork?

Yes, SoftBank is the biggest investor of WeWork. The bank holds almost 80% of the company.

Who are WeWork's biggest creditors?

Brigade Capital Management, Capital Reasearch and Managment Co. and Scuptor capital are among the biggest creditors of WeWork.

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