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// HALL OF FLAME · STARTUP AUTOPSY
Founded2010
Closed2023
CountryUSA
SectorReal Estate
Total raised$16B
Collapse typeMass Layoff Spiral
FounderAdam Neumann

WeWork

"We are a tech company. We rent offices."

$16000M
RAISED
15,000
EMPLOYEES
156
MONTHS
founder chaosMass Layoff Spiral

Cascading layoffs that accelerated the decline

// Fatal mistake: Governance Failure

Key Events Timeline

2019-01
FUNDING
SoftBank invests $2B. Valuation hits $47B.
2019-08
FRAUD EXPOSURE
S-1 reveals $1.9B loss on $1.8B revenue. Conflicts of interest exposed.
2019-09
CEO CHANGE
IPO withdrawn. Neumann ousted. Valuation collapses from $47B to under $10B.
2019-11
LAYOFF
SoftBank bailout. 2,400 employees laid off — 19% of workforce.
2023-11
SHUTDOWN
WeWork files Chapter 11. $47B to $45M in 4 years.
🔥 Hall of Flame 95%🏆 Hall of Fame 5%

WeWork's 2019 IPO collapsed when its S-1 revealed $1.

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More Real Estate →More from USA →More founder chaos failures →Raised: $16B
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// THE REAL ESTATE GRAVEYARD DOESN'T END HERE

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