What Happened to WeWork?
Return
0.0%
Current Price
$0
Peak Price
â
Trust Size
$15.1B
Summary
WeWork was the world's largest co-working space provider, operating shared office spaces in over 700 locations globally. After a failed 2019 IPO attempt, it went public via SPAC merger with BowX Acquisition Corp in 2021 at a $9 billion valuation, down from its peak $47 billion private valuation. WeWork filed for Chapter 11 bankruptcy in November 2023.
What Happened
BowX Acquisition Corp merged with WeWork in October 2021 at a $9 billion valuation. The co-working giant had already been humbled from its peak $47B valuation after its 2019 IPO implosion. Post-SPAC, WeWork continued to burn cash with long-term leases and short-term tenants. The stock fell from $10 to pennies before WeWork filed Chapter 11 in November 2023 with $18.6 billion in liabilities, emerging as a smaller private company in 2024.
Timeline
2020-07-28
S-1 Registration Filed
2024-07-03
Last SEC Filing