Members of the NYC Mastermind Group were treated to a summary of WeWork’s transition to its new corporate identity – The WeCompany – by two of its leading execs. Zachary Vaughn, Associate Director, addressed the projected growth and new focus of the firm, while Kristen Fulmer, Manager of Sustainability Advisory Services, summarized its commitment and goals to increase its Sustainability & Wellness footprint.
Key Takeaways:
• The new WeCompany brand is moving to a more enterprise-centric model from its current 35% enterprise/65% co-working space experience. By 2020, its aim is to reach a 50-50 balance.
• The firm – which has grown from 7,000 to 14,000 employees worldwide in the last year – has a global portfolio of operations that includes 100 cities in 27 countries and more than 466,000 members.
• 30% of Fortune 500 companies are WeWork members.
• A $2.9 billion equity investment platform has been allocated to expand the firm’s international reach and offerings.
• Its new vision is supported by acquisitions like Powered by We, Meetup and Creator and strategic partnerships with AMEX, Airbnb, Sweetgreen, and RTR.
• Sustainability and Wellness efforts are grounded on three key pillars: energy, materials and health with achievable goals in place for the present and future.
• The WeCompany is actively pursuing measures that will ensure it is carbon neutral by 2023