We all know WeWork grew significantly in 2016. We also know they had their ups and downs (like any business usually does). The question is, was 2016 a good year for WeWork in the end?
Despite having cut their earnings predictions from $65 million to $14 million and despite having a 63% surge in negative cash flow midway through 2016, WeWork came through with significant strides and expanded its global footprint in 2016.
So here is a summary of WeWork in 2016, in numbers.
Information taken from WeWork’s latest newsletter, sent December 29, 2016
In 2016 WeWork:
Officially made it to 4 continents: North America, Europe, Asia, Australia.
Opened coworking locations in 6 new countries: Germany, China, South Korea, Mexico, Canada, and Australia; adding up their presence to 10 countries total.
They didn’t stop at 6 new countries…they went further and opened locations in 18 new cities including Be’er Sheva, Astoria, Denver, Mexico City, Sydney, Hong Kong, Seoul, Montreal, Berlin, Long Beach, and others. (This adds up their global presence to 34 cities.)
They opened their 100th coworking space, and reached a total of 111 spaces.
Oh, they also doubled their membership base and they now have over 85,000 members worldwide.
They launched their Mission Possible Program, which is currently operating in 11 cities: Miami, Philadelphia, Brooklyn, Queens, Chicago, Denver, Los Angeles, San Jose, London, Washington D.C., and Atlanta; and it gave them 1,100 new members.
If you’re wondering what it takes to operate on such a large scale…here are some fun facts that might (or might not) help.
WeWork created 123 custom wallpaper patterns, helped with 67 murals, and installed 74 neon signs.
For their Summer Camp, they consumed a whopping 1,200 lbs of Mac & Cheese (yum!) and 45,000 lbs of ice.
And lastly, they managed to cap off $690 million in funding—which explains their numbers and their growth.