WeWork, the company that simulates startup life, is worth more than Twitter, Box, and Blue Apron combined
At a $20 billion valuation, the co-working giant tops the market caps of Twitter ($12.96 billion), Box ($2.44 billion), and Blue Apron ($1.54 billion) combined.
The company has not confirmed the investment or its source, but Forbes dug up documents filed publicly with the Delaware Secretary of State on June 30, issuing 13.2 million new shares of preferred stock. WeWork did not immediately respond to request for comment.
Founded in 2010, WeWork has more than 120,000 members in 156 offices worldwide. Entrepreneurs, freelancers, and remote workers who maintain a base at WeWork receive amenities like free coffee, meeting rooms, privacy booths, and networking events.
The company has grown its offerings over the last year. WeLive, an offshoot of WeWork evolved the hacker-house concept into all-inclusive living experiences that comes with lots of perks. A new enterprise business puts Microsoft employees in WeWork offices across four major cities.
In May, WeWork also quietly got into the fitness business. The company plans to open a permanent gym, which is being called WeWork Wellness, at a New York City office location.
Miguel McKelvey, chief creative officer of WeWork, told Business Insider earlier this year that a network of shared experiences has been "always part of the equation" for the brand.
He and cofounder Adam Neumann envision an ecosystem of office rentals, residences, gyms, and even barber shops that served the concept of community living.
"It was always thought of, 'How can we support this person who wants to live more collectively, live lighter - who wants to have less stuff, who wants to pursue their passion, pursue a life of meaning, rather than looking for just material success?'" McKelvey said.
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