WeWork presentation has numbers critics say should have been in IPO - Business Insider

The presentation stated that WeWork plans, as part of its turnaround plan, to focus on working with companies with more than 500 employees, a customer group that

As of September, according to the presentation, WeWork had 600 locations and 676,000 desks. Overall, its occupancy rate stood at 80%. By comparison, coworking rival IWG, formerly known as Regus, had an occupancy rate of 69%, according to the company's most recent earnings report in August. WeWork locations that have been opened for more than two years are 89% occupied on average.

For the first time, the company also spelled out how its business model works on a per-square-foot basis: In the presentation, WeWork's new leadership team – chairman Marcelo Claure and co-CEOs Artie Minson and Sebastian Gunningham – made clear they were attempting to make a break with the company's recent past.

Why do I see WeWork stories all over Twitter? I've never even heard of this WeWork outfit.

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READ: WeWork lays out five-year plan priorities in leaked memo - Business InsiderThe plan will include a new organizational and compensation plan; and financial restructuring that eliminates the need to raise more capital. techinsider Rather not.
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SoftBank sees recovery for SoftBank after losses on WeWork and Uber - Business InsiderSoftBank has taken serious heat for its WeWork and Uber losses — but one Wall Street analyst says the company will recover from here
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WeWork needs a big, expensive IT upgrade - Business InsiderInsiders say WeWork's IT is a patchwork of cheap devices and band-aid fixes that will take millions to fix
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