WeWork has been named the 5th most valuable startup in the world! Last week, our CEO called an all-employee meeting to announce some major changes/news. On the morning of the meeting, I had never seen the office so packed, everyone was excited and there was a buzz all around the office – camera crews and sound equipment everywhere, people packed together closer than on the subway, and the executive team up at the front giving the crowd very welcoming positive smiles. I felt like I was at an Apple Keynote or a ted talk. CEO Adam Neumann took the stage and made 3 major announcements:
The first announcement was that we had received additional funding from the Japanese firm SoftBank which raised our valuation to $20 billion! My team, enterprise sales, were influential in this investment as our sales numbers have grown exponentially since the beginning of the year. We’ve shown investors that WeWork is not only a small business workspace solution, but the premier global workspace partner for enterprise companies. Our little team feels like a startup within a startup – we’ve nearly doubled in size since I started a few months ago. We’ve seen unprecedented success and exceeded all of our goals – paving the way for many more exciting months to come for the company.
Although not specifically covered in the presentation, this announcement was very exciting because a $20 billion valuation places us right on the heels of companies like Uber and Airbnb and equivalent to Peter Thiel’s Palantir as the fifth most valuable startup company in the world. WeWork is a really interesting company, because while tech-based startups typically see these high valuations because of how easy it is to scale technology, we have received the same type of valuation as a real estate/services company. The future is very very bright for this company, and more people (and investors) are beginning to catch on.
The second major announcement was that we will be expanding our operations in Japan. As mentioned in the link above, WeWork plans on using some of SoftBank’s investment to expand operations in Japan and open as many as 20 new buildings in Tokyo. This is very exciting news because Japan presents the company with all new opportunities similar to those in London and New York where we have seen great success. Also, I believe that the WeWork team can make a significant impact on the toxic Japanese workplace culture. Members of the Japanese government have even recognized that there are serious issues with the way people work in Japan, and I think that WeWork’s focus on community and collaboration will fix a lot of these issues.
The third and final announcement was that WeWork has a new COO and refined organizational structure. This was perhaps the least exciting, but most interesting portion of the presentation. It’s amazing how many moving parts this company has created over the last 2-3 years or so, and at times things can get a little unorganized. By solidifying our internal structure, the company will run more efficiently. With the necessary leaders in place, we can operate with a clearer vision and eliminate redundancies throughout the company.
I’ve had an incredible few weeks here at WeWork, and have learned so much — especially from events like the meeting last week. I’ve also seen some personal success at work as I got my internship extended for an extra couple of weeks! I’m excited to spend some more time in New York and help out the team as we continue to grow and exceed our goals.
