WeWork’s Softer Rebrand Is Another Step in Its Comeback Strategy

Over the past three years, leaders of the beleaguered co-working firm WeWork have been laser-focused on a comeback. The firm has set targets for when they hope the cash-burning company will start being profitable, but so far, has fallen short. Over the past six months, WeWork’s stock price has fallen nearly 83 percent. The CEO brought on in 2020 to put WeWork on the right course stepped down this past May, and it hasn’t been that long since a documentary and a fictionalized drama series about co-founder Adam Neumann didn’t exactly put the once powerful company in the best light. With the company still struggling to get into the black, the latest move by decision-makers at the firm has been to undergo a rebrand. 

Before its fall, WeWork hit its peak in 2019. At the time, the co-working firm was valued at $47 billion and surpassed JPMorgan Chase to become the largest occupier of space in Manhattan. It was a brand that became synonymous with startups and startup culture, promising the kind of networking and synergy that just couldn’t be replicated in traditional office space. Though it wasn’t the first to sublease space (Regus had already been doing it for years) WeWork’s model was fresh, hip, and included amenities like free beer, flexible leases, and crucially, a certain office culture that attracted exactly the demographic they were looking for. 

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WeWork has tried a few different marketing strategies in the past.

Read more at Propmodo.

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