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August 1, 2026Short & citedBlog
Civic Viewpoint.
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Kept by Bryan McAllister — short guides, clear facts, and the Canadian angle when it matters.
Money & Work • Real Estate

WeWork

WeWork Inc.

Updated August 1, 20261 min readCited sources

WeWork is an American flexible-workspace company that provides coworking spaces, private offices, and related services globally. Founded in 2010, it expanded rapidly before facing financial difficulties and restructuring through bankruptcy in 2024.

What it is

WeWork leases office buildings and sublets them as flexible workspace on shorter terms. Its services include shared desks, private offices, virtual offices, and workplace management solutions. The company operates in multiple countries and cities worldwide, including Canada.

Key details

WeWork was founded in New York City in 2010 by Adam Neumann and Miguel McKelvey. It grew from a single location into a global brand, with ventures like WeLive co-living. The company filed for bankruptcy in 2023 and emerged in 2024, continuing operations after being acquired by Yardi Systems.

Why it matters

WeWork's rise and fall illustrate the risks of rapid expansion in commercial real estate. Its restructuring shows how flexible workspace models can adapt to financial pressures. For Canadian readers, WeWork's presence offers coworking options in major cities.

In short

  • WeWork provides flexible office space through leasing and subletting.
  • Founded in 2010 by Adam Neumann and Miguel McKelvey.
  • Filed for bankruptcy in 2023, emerged in 2024 under Yardi Systems.
  • Operates in Canada as part of its global network.
Canadian angle

WeWork has had operations in Canada as part of its North American and international footprint, making it relevant to Canadian readers seeking flexible office space options.[3][15]

Quick questions

What is WeWork?
WeWork is a flexible-workspace company offering coworking spaces, private offices, and related services.
Who founded WeWork?
WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey.
Does WeWork still operate?
Yes, after bankruptcy restructuring in 2024, WeWork continues to operate.

Sources

  1. Wikipedia — https://en.wikipedia.org/wiki/WeWork
    Supports: Founding date, founders, headquarters, and general company description.
  2. Encyclopaedia Britannica — https://www.britannica.com/money/WeWork
    Supports: Business model based on leasing office space and subletting desks.
  3. World Economic Forum — https://www.weforum.org/organizations/wework/
    Supports: Company description, founding year, headquarters, services, and international operations.
  4. GlobalData — https://www.globaldata.com/company-profile/wework-inc/
    Supports: Company profile, headquarters, and worldwide operations.
  5. Investing.com — https://www.investing.com/equities/wework-company-profile
    Supports: Services offered, founding year, headquarters, and flexible workspace products.
  6. Runway East — https://www.runwayea.st/blogs/what-is-wework
    Supports: Post-bankruptcy continued operations after 2024 restructuring.
  7. PitchBook — https://pitchbook.com/profiles/company/62181-28
    Supports: 2024 acquisition by Yardi Systems and company profile details.
  8. WeWork — https://www.wework.com/newsroom/wecompany
    Supports: Company mission statement.