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Title : WeWork – Success & Failure
Contents
Introduction    3
We Work: A “Unicorn”    3
The Failure    4
Conclusion    7
References    8
Introduction
The launch of We work in 2010 depicted that it would be held at the future of working lives. The organization became an attractive pothole for freelancers and entrepreneurs who mostly focused their business in furious coffee-shop laptop sessions and was looking for co-working spaces and networking with a place to connect. It has been found that the company had a valuation of 47 billion dollars and was planning almost focused on world domination with a scope to expand. However, the success was short-lived and by the end of 2019 it was almost bankrupt and the CEO Adam Neumann stepped down. This transition was quite overwhelming and the sudden success and the failure were so fast that it provides a contextual summarization of We Work.
We Work: A “Unicorn”
We work was co-founded by Adam Neumann and Miguel McKelvey. The idea was to influence a high-level empty office space for the freelancers and the startup founders. In the following year, the company created labs and this was specially meant for young businesses that not only give them desk space and meeting rooms to carry out their operations but also promised to support their fledgling days. This was more inherently not charging the new companies and helping them to grow (Waters et al., 2019). Very soon with the effective investment from Soft Bank, the company began to expand exponentially by opening its new species in 51 locations in the United States, Europe, and Israel. It also produced the specific plans to enhance its business to every continent across the globe by 2017.
In 2016 it was declared the most innovative company across the globe and was worth staggering a 10 billion dollars. This came to be known as the Unicorn in the financial market which is considered to be once in a lifetime investment. At the end of 2016, the organization announced that the business had attracted more than 1.7 billion dollars as just a private capital. So, things were entirely going well with the chronic support of the companies that were operating and the investors who had shown a long-term commitment to the company.
The Failure
The company however could not hold this success for a long time. The hype with which the company started to operate was perhaps the demising part of the company. The significant commercial real-estate company popularised itself as a tech company. This had an influence on the way investors invested. Much like Facebook or Google the company tried to claim that it wants to change the world and the office spaces "physical social networks" against the offices (Tintiangko et al., 2019). The essential part of the business was the fact that it fairly provided a standard offering a desk space for providing the context of cultural revolution. This begins to show early demise when the founder pitched the company as a revolution and ran his company accordingly. The space was essentially overwhelming for festivals where drugs and alcohol while actively encouraged and had a mandatory work-hard, a party-hard culture where after-work drinking was essential for the employees. The space had merchandise, gyms, co-leaving spaces, and even schools.
The idea was that this can be an essential place where every aspect of your life is accommodated. The very beginning of the demise of the company started when it started its marketing. This was the point where the real impact lies in the terms of the...