WeWork's rise and fall (2010-2023)
WeWork expanded aggressively, offering cushy, amenity-filled workspaces backed by SoftBank. At its 2019 peak, it was valued at $47 billion, then its IPO collapsed and it filed for bankruptcy in 2023.
WeWork's overexpansion and governance problems led to a valuation crash and eventual bankruptcy.
The coworking industry learned that growth without profitability is fragile.
The Malin's hospitality-driven model resembles WeWork's premium approach, but on a smaller scale. The cautionary tale highlights the risk of expanding too quickly.
