Misplaced Pages

#424575

109-510: WeWork Inc. is a provider of coworking spaces, including physical and virtual shared spaces, headquartered in New York City . As of December 31, 2022, the company operated 43.9 million square feet (4,080,000 m) of space, including 18.3 million square feet (1,700,000 m) in the United States and Canada, in 779 locations in 39 countries, and had 547,000 members, with

218-453: A cooperative , including a focus on community rather than profit. Some coworking participants are also involved in an unconference such as BarCamp . Some coworking spaces are geared towards particular niches. For example, CoWorking With Wisdom, in Berkeley, California , combines coworking with meditation , mindfulness , and yoga programs, The Wing was founded for "the advancement of

327-569: A $ 47 billion valuation. SoftBank considered investing as much as $ 16 billion but downsized plans due to turbulence in financial markets and opposition from investors. The investment brought SoftBank's total funding in WeWork to over $ 10 billion. In late January 2019, WeWork announced that it would open a location on two floors of a building in Tampa Heights in 2020 as part of its expansion into Tampa, Florida . In April 2019, WeWork acquired Managed by Q ,

436-540: A $ 500 million credit to assist him to repay his loans to J.P. Morgan Chase . He was retained as a consultant with an annual salary of $ 46 million. In October 2019, WeWork announced the opening of new co-working locations in Singapore and Manila . Also in October 2019, WeWork abandoned plans to open an office in the U.S. Steel Tower in downtown Pittsburgh . The company had planned to build out as much as 105,000 square feet in

545-462: A 25% in TWEC L.P., including Time Warner Cable; this was in part to finance a joint venture, eventually named TW Telecom , intended to build up a fiber-optic communication infrastructure, as well as provide additional cash for Time Warner to upgrade their cable systems. Another cited benefit was that TWC could market telephone service provided by US West alongside their cable television services In 1995,

654-538: A 29 percent increase, while Comcast gained almost 1.7 million subscribers. Adelphia stockholders received 16% of Time Warner Cable. Time Warner Cable went public effective February 13, 2007, and the company began trading on the New York Stock Exchange on March 1, 2007. In addition to Adelphia's coverage being divided up, Time Warner Cable and Comcast also agreed to exchange some of their own subscribers in order to consolidate key regions. An example of this

763-706: A 33% interest in the company for $ 15 million. In 2011, PepsiCo placed a few employees in the location, who acted as advisors to smaller WeWork member companies, making the location a startup incubator . By 2013, WeWork customers included 350 startups such as Fitocracy and HackHands . By 2014, WeWork was considered "the fastest-growing lessee of new office space in New York" and was on track to become "the fastest-growing lessee [lessor] of new space in America." WeWork investors as of 2014 included J.P. Morgan Chase & Co , T. Rowe Price , Wellington Management , Goldman Sachs ,

872-684: A 37% dip in share value. One week later, on November 6, the company officially filed for bankruptcy, which was described by ABC as emblematic of the "excesses of business startup culture." In May 2008, Israeli Adam Neumann and American Miguel McKelvey established GreenDesk, an "eco-friendly coworking space" in Brooklyn . In 2010, Neumann and McKelvey sold the business and founded WeWork, renting its first location in SoHo, Manhattan , which opened in April 2011. Manhattan real estate developer Joel Schreiber purchased

981-584: A Campus Co-working space in University of Abuja known as Ventures Platform campus In 2023, WomHub coworking space opened in Cape Town. It is a female-founded innovation center and coworking space designed to support women entrepreneurs in South Africa. The average age of members in coworking spaces is currently 36 years old, increasing slightly from the previous year. Freelancers and entrepreneurs with staff are

1090-497: A certain type of woman", and Work and Play in South Orange, New Jersey has onsite childcare for entrepreneurial parents. Coworking spaces with a religious aspect include Epiphany Space, a Los Angeles space for artists, and SketchPad, a Chicago space for Jewish not-for-profit organizations. Between 2006 and 2015, a few studies showed that the number of coworking spaces and available seats have roughly doubled each year. Coworking

1199-688: A coding school. It was sold in June 2020. In November 2017, WeWork invested in The Wing , a co-working space for women. It sold the stake in January 2020. Also in November 2017, WeWork acquired Meetup for approximately $ 156 million. It was sold at a loss in 2020. In the same month, WeWork invested in Wavegarden , which designs and manufactures artificial wave devices. In addition, during November 2017, WeWork announced that in

SECTION 10

#1732855748425

1308-554: A college campus at the University of Maryland, College Park . In March 2018, WeWork raised over $ 400 million alongside Rhône Group , a private equity firm to start a fund to purchase properties directly. Also in March 2018, WeWork acquired Conductor . Conductor executives bought back the company from WeWork in December 2019. In April 2018, WeWork acquired Chinese coworking operator Naked Hub for $ 400 million. In May 2018, WeWork acquired MissionU,

1417-544: A complex relationship with founder Adam Neumann . It also disclosed $ 47 billion of future lease obligations and only $ 4 billion of future lease commitments. The company was then "besieged with criticism over its governance, business model, and ability to turn a profit." The company changed the legal name of WeWork to We Company and, according to the August 2019 Form S-1 filing, the firm paid $ 5.9 million to an entity owned by Adam Neumann and other WeWork founders for brand licensing

1526-400: A court-approved deal was reached between WeWork and its senior creditors outlining the company's financial restructuring. Yardi Systems, a real estate technology provider and creditor to WeWork, will invest $ 337 million, acquiring a 60% stake. The remaining $ 113 million will come from a separate group of hedge funds in exchange for a 20% stake. On 30 May 2024 the deal was approved and Anant Yardi

1635-542: A deal to acquire TWC for $ 195 a share. Charter had been involved in the Comcast/TWC merger, as the companies planned to divest around 4 million subscribers to Charter in order to reduce the combined company's market share to an acceptable level. The next day, Charter officially announced its intent to acquire Time Warner Cable in a deal valued at $ 78.7 billion, and confirmed that it would also continue with its proposed, $ 10.1 billion acquisition of Bright House Networks. The deal

1744-595: A deal to acquire TWC in an overall deal valued at $ 45.2 billion, pending regulatory approval. The proposed merger was met with prominent opposition from various groups, showing concerns that the sheer size of the combined company would reduce competition and would give Comcast an unprecedented level of control over the United States' internet and television industries, increased leverage in the distribution of NBCUniversal content, hamper over-the-top services, and lead to higher prices for its services. In April 2015, it

1853-507: A deal with Cablevision , the Long Island telecommunications company, who are the owners of News 12 Long Island on July 7, 2009. On March 16, 2010, Time Warner Cable's transmission of their Kids on Demand and Kids Pre-School on Demand channels on systems in eastern North Carolina was interrupted by programming from the adult pay television channel Playboy TV for approximately two hours between 6:15 a.m. and 8:15 a.m./EDT, in which

1962-459: A documentary titled WeWork: Or the Making and Breaking of a $ 47 Billion Unicorn , released April 2, 2021. Coworking Coworking is not only about providing a physical place, but also about establishing a community. Its rapid growth has been seen as a possible way for city planners to address the decline of high street retail in urban centres. Its benefits can already be experienced outside of

2071-451: A figure that is thought to be increasing. This rise is largely attributed to the growing number of employees working in coworking spaces; in these spaces, women represent a small majority of employees, 46% of freelancers, and 24% of employer positions. Similar to trends outside of coworking spaces, the share of female members drops, particularly in the age group of 30 to 50 years, after marriage due to child care. This could also be influenced by

2180-588: A for-profit design school. In September 2018, WeWork acquired Teem, an office management software company, for $ 100 million. It was sold to iOffice in 2020. In November 2018, SoftBank acquired a warrant to buy up to $ 3 billion worth of shares in the company by the end of September 2019 at a $ 42 billion valuation. In 2018, the company purchased a Gulfstream G650 business jet for more than $ 60 million, cited as an example of CEO Adam Neumann's excessive spending. WeWork lost over $ 2 billion in 2018. In January 2019, WeWork raised an additional $ 2 billion from SoftBank at

2289-588: A former WeWork executive making $ 300,000 per year, sued the company for age discrimination after allegedly being replaced with a younger worker. Markel voluntarily dismissed the case in August 2019. In October 2019, Medina Bardhi, the former chief of staff for Adam Neumann, represented by Douglas Wigdor , sued the company over various allegations including a gender pay gap , marijuana use by company executives, and pregnancy discrimination . In February 2020, Ayesha Whyte, former director of employee relations, sued WeWork for gender and race discrimination, "saying she

SECTION 20

#1732855748425

2398-480: A group of nude women talked and posed in a sexually suggestive manner. This accidental display affected Time Warner Cable's digital cable subscribers in four towns in the system's eastern North Carolina cluster, while other areas displayed a black screen. A Time Warner Cable spokesperson said in a statement to Raleigh CBS affiliate WRAL , "It was a technical malfunction that caused the wrong previews to be shown on our kids' on-demand channels. Unfortunately, it hit at

2507-607: A large presence in the coworking community and is home to a growing number of coworking spaces. Also in the Bay Area , Anca Mosoiu established Tech Liminal in 2009, a coworking place in Oakland . The coworking model for office space is extremely popular in Miami . In fact, a 2018 study done by Yardi Matrix, recognized Miami as the US city with most co-working spaces per square foot. As of 2023, Florida

2616-463: A large presence. The demand for coworking in Brooklyn neighborhoods is high due to the increased number of millennials in the workforce; nearly one in 10 workers in the Gowanus, Brooklyn area are remote workers . The industrial area of Gowanus is seeing a surge in new startups that are redesigning old buildings into new coworking spaces. In Brooklyn, in 2008, the first green-focused coworking space in

2725-498: A larger restructuring. From 2009 to 2016, Time Warner Cable was an entirely independent company, continuing to use the Time Warner name under license from its former parent company (including the " Road Runner " name for its Internet service, that was merged into what is now Spectrum Internet ). In 2014, the company was the subject of a proposed purchase by Comcast Corporation , valued at $ 45.2 billion; however, following opposition to

2834-566: A lawsuit from the Attorney General of New York. In October 2018, former WeWork director of culture Ruby Anaya filed a sexual harassment lawsuit claiming that at a company event in January 2018, a male employee grabbed her by the waist and forcibly kissed her and that in August 2017, a different employee grabbed Anaya from behind in a "sexual manner". The suit highlighting the company's "frat-boy culture" also alleged that co-founder Neumann "plied [her] with tequila shots during her interview with

2943-565: A luxury health club at its Broad Street , Manhattan location. The space includes exercise equipment and a boxing area, general workout area, spa, and a yoga studio with fitness classes. In June 2017, in partnership with Embassy Group , WeWork India, led by then 25-year old Karan Virwani, son of the Embassy Group owner Jitu Virwani, opened its first space in Bangalore , India , named WeWork Galaxy, with capacity for 2,200 members. In July 2017,

3052-765: A net loss of $ 397 million (£311 million) between April and June 2023, though this was an improvement of $ 238 million compared with the same period a year earlier. On August 24, 2023, a group of investment management companies that lent cash to WeWork announced they were exploring options to save the company, including a potential Chapter 11 bankruptcy reorganization. The group includes three companies, BlackRock , King Street Capital Management , and Brigade Capital . In October 2023, Bloomberg reported that investors and creditors, including SoftBank, King Street Capital Management, and others were negotiating to gain control of WeWork. On October 31, 2023, WeWork announced that it would be preparing to file for Chapter 11 bankruptcy as soon as

3161-407: A platform that office tenants can use to hire service providers. It was sold at a loss in March 2020. On April 29, 2019, WeWork filed a draft registration statement for a proposed initial public offering . By July 2019, Adam Neumann had liquidated $ 700 million of his WeWork stock. On August 14, 2019, the company filed Form S-1 . The filing revealed significant losses, expensive lease agreements, and

3270-532: A pricing hierarchy based on the amount of data that they used. In 2009, Time Warner Cable announced that additional cities including Rochester, New York will become additional test sites. In particular in Rochester groups have formed to stop TWC. Several groups including Stop TWC and Stop The Cap are currently working to oppose these efforts. On April 7, 2009, then US Congressman Eric Massa called on TWC to eliminate its broadband Internet cap. They chose to not make

3379-793: A self-styled college alternative, for $ 4 million in stock. MissionU was wound-down shortly afterwards and students were not charged tuition. Cash was returned from MissionU to its investors. MissionU's CEO went on to become COO of WeWork's kindergarten program, WeGrow. In July 2018, the company restricted employees globally from being reimbursed by the company for meals that contained pork, poultry, or red meat. The firm also announced that it would not provide meat for events at its locations nor allow meat at self-serve food kiosks in its locations. In July 2018, WeWork raised $ 500 million to expand its business in China, valuing its Chinese subsidiary at $ 5 billion. In August 2018, WeWork's Flatiron School acquired Designation,

WeWork - Misplaced Pages Continue

3488-665: A separate but related co-living venture called WeLive in New York City and in Crystal City, Virginia , near Ronald Reagan Washington National Airport in the Washington metropolitan area . A third WeLive location in Seattle was planned in the new Third and Lenora building in 2020, but the lease was terminated in October 2019. In July 2021, WeWork terminated this business line. In April 2017, WeWork launched an online store for services and software for its members. In May 2017, WeWork opened

3597-416: A sexual harassment claim. WeWork was also sued by several landlords for breach of contract when it failed to pay rent or for closing locations. Notable WeWork locations include: In January 2021, Apple TV+ announced a new show called WeCrashed that follows the launching and fall of WeWork. Jared Leto plays Adam Neumann and Anne Hathaway plays Rebekah Neumann . In March 2021, Hulu unveiled

3706-528: A slower growth rate. On February 1, 2020, WeWork announced that Sandeep Mathrani , a former senior executive at GGP Inc. and Brookfield Property Partners , would become CEO of the company, effective February 18, 2020. On February 3, 2020, WeWork opened its first location in the Middle East outside of Israel in Abu-Dhabi's technology park Hub 71 under the name WeWork x Hub 71. On February 10, 2020, WeWork announced

3815-457: A space and seek a community with a collaborative spirit. Customers also often benefit from professional services such as printing or incorporation or consulting. Coworking is distinct from business accelerators, business incubators , and executive suites . These spaces do not fit into the coworking model because they often miss the social, collaborative, and informal aspects of the process. In coworking, management practices are closer to that of

3924-459: A strong odor. On November 6, 2019, SoftBank Group reported $ 9.2 billion in write-downs on its investments in WeWork. This amount was approximately 90% of the $ 10.3 billion SoftBank invested in WeWork over the previous few years. On November 21, 2019, WeWork announced layoffs of 2,400 employees, almost 20% of its workforce globally. In January 2020, WeWork began phasing out free beer at all North American co-working locations and announced plans for

4033-446: A suburb of Appleton . The team and Time Warner Cable mutually agreed to end the rights deal after the 2013 season, and the venue is now known as Neuroscience Group Field at Fox Cities Stadium , named for a local neurology practice. On July 31, 2006, Time Warner Cable and Comcast completed a deal to purchase practically all of Adelphia 's assets for $ 17 billion. Time Warner Cable gained 3.3 million of Adelphia's subscribers,

4142-523: A total of 5 tiers of internet speeds, which are listed below: Prior Time Warner Cable internet charges/fees: Time Warner Cable charged a modem lease fee what was $ 10/month and offered free WiFi with their service if requested in lieu of what Spectrum does today, what is giving the modem for free and charging $ 5/month for WiFi service. For Time Warner Cable, customers could purchase their own modem to alleviate that charge, along with today, Spectrum allows their customers to purchase their own router to alleviate

4251-551: A weighted average commitment term of 19 months. In 2019, the initial public offering (IPO) of its then-parent company, The We Company, failed. The Wall Street Journal noted that, on the release of its public prospectus in August 2019, the company was "besieged with criticism over its governance, business model, and ability to turn a profit". The We Company filed its Form S-1 for the IPO in August 2019. The following month, facing mounting pressure from investors based on disclosures in

4360-552: Is also an innovation hub and incubator space for startups founded by Erik Hersman in 2010. iHub was a pioneering coworking space in Africa, in 2019 Cc-hub announces the acquisition of IHub in Nairobi, Kenya . Ventures Park was founded in 2016 in Abuja by Kola Aina. Its an artsy space for freelancer, entrepreneurs, professionals, and startups manage their operations and network. They launched

4469-666: Is among the most responsive European country to the idea of collaborative working, with a special focus on London . In the city, the Shoreditch area leads the coworking market, not only for the large number of coworking places it offers but also for the variety of places that exist to fit the differing needs among start-ups, entrepreneurs and freelancers. Camden Collective is a regeneration project in London that re-purposes previously vacant and underused properties that opened its first 'wire-less, wall-less' coworking space in 2009. In June 2013,

WeWork - Misplaced Pages Continue

4578-688: Is limited in regions like China , Hong Kong , India , the Philippines , Saudi Arabia , Singapore , Taiwan , and Vietnam . The major metropolitan cities in each of these regions are every day coming up with new coworking ideas and spaces, promoting emerging startups and business to adopt the trend. Research from commercial brokerage firm JLL found that flexible work space in Asia-Pacific, including both serviced offices and coworking, surged 150% from 2014 to 2017. In Pacific countries such as Australia and New Zealand , coworking has been made popular as

4687-665: Is one of the fastest growing coworking markets. Coworking has also spread into many other metropolitan areas, with cities such as Seattle, Washington , Portland, Oregon , Toronto , Wichita, Kansas , and Columbus, Ohio now offering several coworking venues. In recent years there has been an increase in the number of suburban and rural coworking spaces including Amarillo, Texas, Des Moines, Iowa, Independence, Oregon and Indianapolis, Indiana. The New York coworking community has also been evolving rapidly in Regus and Rockefeller Group Business Center . WeWork and other services have

4796-643: Is popular in India . According to a 2017 report by real estate firm CBRE , there are 350 shared office operators present in India spread across more than 800 locations. Leasing activity by coworking and business center operators more than tripled on 2016. In Australia , WeWork and Spaces are present, challenging locally owned and operated companies. Hub Australia is the largest, privately owned Australian coworking operator. With many independent operators opening smaller specialist sites (including in rural and regional areas of

4905-573: Is the Los Angeles market, which was mostly covered by Comcast and Adelphia (and some areas of the region already served by TWC), is now under Time Warner Cable. Philadelphia had been split between Time Warner Cable and Comcast, with the majority of cable subscribers belonging to Comcast. Time Warner Cable subscribers in Philadelphia were swapped with Comcast in early 2007. Similarly, the Houston area, which

5014-628: The COVID-19 pandemic as reasons for withdrawing the offer. WeWork then sued SoftBank. On May 4, 2020, former CEO Adam Neumann separately sued SoftBank for withdrawing the $ 3 billion tender offer. The lawsuits were settled in February 2021. On July 8, 2020, former WeWork stock plan administrator Diane Allen, and former head of diversity & inclusion Christopher Clermont, filed separate complaints against WeWork. Both alleged race discrimination, while Allen also alleged gender discrimination and lack of action over

5123-566: The Companies' Creditors Arrangement Act . Locations outside the United States and Canada and WeWork franchisees are not part of the bankruptcy procedure. According to the Financial Times , SoftBank had invested or committed over $ 16 billion by the time of WeWork's bankruptcy, including a $ 1.5 billion payment to Goldman Sachs and other creditors days prior to WeWork's bankruptcy as SoftBank had acted as guarantor of WeWork's loans. On 29 April 2024,

5232-694: The Government of the United Kingdom announced it would be applying coworking principles to a new pilot scheme for its 'One Public Sector Estate' strategy covering 12 local authorities in England, which will encourage councils to work with central government departments and other bodies so that staff share buildings. This will enable the authorities to encourage collaboration as well as re-use or release property and land deemed surplus to requirements, cutting spending and freeing up land for local development. Estonia At

5341-552: The Harvard Corporation , Benchmark , and Mortimer Zuckerman , former CEO of Boston Properties . In February 2015, WeWork was named to Fast Company ’s 50 Most Innovative Companies list. On June 1, 2015, Artie Minson , former chief financial officer of Time Warner Cable , joined the company as president and chief operating officer. In August 2015, the company acquired CASE, a real estate and construction technology company, in its first acquisition. According to its founder,

5450-590: The Spectrum brand in most markets (a brand of Charter which launched in 2014), though it will continue to use the roadrunner.com email addresses and adelphia.net email addresses to new customers. Time Warner Cable traces back to two cable entities owned by Time Inc. and Warner Communications respectively in the 1970s; American Television and Communications, which was established in 1962, and would be acquired by Time in 1977; and Warner Cable, established in 1973. Warner Cable would eventually diversify into channels with

5559-466: The $ 47 billion valuation it had achieved in January and less than the $ 12.8 billion it had raised since 2010. As of December 2023, the company had a market capitalization of $ 21 million. In October 2019, Neumann received close to US$ 1.7 billion from stakeholder SoftBank for stepping down from WeWork's board and severing most of his ties to the company. He was retained as a consultant with an annual salary of $ 46 million. The New York Times described

SECTION 50

#1732855748425

5668-669: The 2008–09 season, allowing coverage through both the Carolinas. Shortly after being acquired by Charter, the arena was renamed to Spectrum Center. On March 9, 2007, Time Warner Cable, which provided service to the northeastern Wisconsin area, signed a 10-year naming rights deal for the home field of the Wisconsin Timber Rattlers , a minor league baseball team and affiliate of the Milwaukee Brewers , based in Grand Chute ,

5777-452: The S-1, company co-founder Adam Neumann resigned from his position as CEO and gave up majority voting control. Amid growing investor concerns over its corporate governance, valuation, and outlook for the business, the company formally withdrew its S-1 filing and announced the postponement of its IPO. At that time, the reported public valuation of the company was around US$ 10 billion, a reduction from

5886-631: The TWC co-owned Carolinas Sports Entertainment Television for its first season, which failed to find much cable coverage in the Charlotte market outside of Time Warner Cable systems and went dark after a year, and then News 14 Carolina which was limited to only the North Carolina side of the market, until the arena naming rights deal was made. The team moved to the new Fox Sports South sub-feed Fox Sports Carolinas and SportSouth (now Fox Sports Southeast ) with

5995-645: The Time Warner Cable Group. This was in large part because 18% of ATC was still owned by outside shareholders. Both divisions were merged into a single division of Time Warner Entertainment in 1992, following Time Warner Entertainment's buyout of the remainder of ATC; this was in part so it could in turn include the cable systems as part of a new limited partnership with Toshiba and C Itoh & Company , Time Warner Entertainment Company L.P., under which TWC, Warner Bros. , and Home Box Office, Inc. were put into. In 1993, telephone company US West purchased

6104-472: The US, called Green Spaces, was founded by Jennie Nevin, and it expanded in 2009 to Manhattan and Denver and has been a driving force for green entrepreneurship through the collaboration of coworking. In 2011, Co-Creation Hub was founded in Yaba , Lagos by Bosun Tijani and Femi Longe, it is often referred to as Cc-Hub and it houses over 50 startups such as BudgIT, GoMyWay, Lifebank, Findworka, Autobox IHub

6213-566: The WiFi charge. Spectrum Center , formerly Time Warner Cable Arena, is located in Charlotte, North Carolina , the home of the NBA 's Charlotte Hornets . In April 2008, the then-Bobcats reached a naming rights deal with Time Warner Cable, the Charlotte area's major cable television provider; the arena was named for the cable provider in exchange for the release of the team's television rights, which had been on

6322-826: The acquisition of Singapore-based SpaceMob, and it allocated $ 500 million to grow in Southeast Asia. In late October 2017, WeWork signed a contract to acquire the Lord & Taylor Building on Fifth Avenue in Manhattan from the Hudson's Bay Company for $ 850 million. The deal also included the use of floors of certain HBC owned department stores in Germany, New York, Toronto, and Vancouver as WeWork's shared office workspaces. The transaction closed in February 2019. In October 2017, WeWork acquired Flatiron School ,

6431-408: The age group of over 50-year-olds has a slightly lower percentage of university graduates. Additionally, freelancers are more likely to hold a university degree, while employers are more likely to have a doctorate. Time Warner Cable Time Warner Cable, Inc. ( TWC ) was an American cable television company. Before it was acquired by Charter Communications on May 18, 2016, it was ranked

6540-571: The bankruptcy procedure. However, the company has entered agreements with its bondholders to request to reject leases and exit largely non-operational leases. Members of affected locations will immediately receive advance notice of their office location shutting down. Almost immediately after the filing was announced, WeWork's stock was delisted from the New York Stock Exchange. The company also filed recognition proceedings in Canada under Part IV of

6649-553: The beginning of 2022, the Pärnu Start-Up Center coworking space opened in Pärnu. Their aim is to connect remote workers and small entrepreneurs who usually work in a café or at home, offering them a comfortable business centre where they can work in peace and meet their clients. Helping local business community to grow and make new contacts. Believing in the power of community and collaboration, and knowledge that together they can make

SECTION 60

#1732855748425

6758-400: The building. On October 14, 2019, WeWork warned clients that approximately 1,600 office phone booths at some of its offices in Canada and the United States were tainted with formaldehyde . The company said another 700 phone booths would possibly be taken out of service as a precautionary measure. This situation came to the attention of the company after some members reported eye irritation and

6867-419: The business, WeWork formally withdrew its S-1 filing and announced the postponing of its IPO until late 2019. At that time, the reported public valuation of the company was around $ 10 billion, a reduction from the $ 47 billion valuation it achieved in January and less than the $ 12.8 billion it had raised since 2010. In mid-September 2019, unrelated to the company's delayed initial public offering, Wendy Silverstein,

6976-588: The capital city of George Town into coworking spaces. As well as tech startups, coworking is becoming increasingly common amongst digital nomads in Asia. A 2011 survey found most coworkers are currently in their late twenties to late thirties, with an average age of 34 years. Two-thirds are men, one third are women. Four in five coworkers started their career with a university education. The majority of coworkers work in creative industries or new media . Slightly more than half of all coworkers are freelancers. Coworking

7085-468: The co-head of WeWork's real estate investment fund ARK, departed the company. By September 23, 2019, SoftBank wanted Neumann removed as chief executive. The following day, amid mounting pressure from investors, company co-founder Adam Neumann resigned as CEO and gave up majority voting control in WeWork. Artie Minson and Sebastian Gunningham were named co-CEOs of the company. That same day, WeWork put its Gulfstream G650 aircraft up for sale. Critics said

7194-508: The company announced that it was developing a software product with Yardi Systems called WeWork Workplace. In May 2022, WeWork named Andre Fernandez as its new CFO. He replaced Benjamin Dunham, who departed after 18 months at the company. In April 2023, WeWork faced delisting on the New York Stock Exchange as its stock price had fallen below a $ 1.00 threshold. The company was valued at $ 360.9 million, down from its $ 47 billion valuation in 2019. At

7303-664: The company launched the Southern Tier On-Line Community in Elmira, New York , a cable modem service later known as Road Runner High Speed Online. That year, talks began that would later result in Warner's acquisition of Paragon Cable . Glenn Britt (1949–2014) was the CEO from 2001 until December 2013. Time Warner retained Time Warner Cable as a subsidiary until May 26, 2010, when it was spun off as an independent company. Prior to

7412-515: The company raised $ 760 million in a Series G financing round valuing the company at $ 20 billion. Also in July 2017, WeWork announced expansion plans into China, with US$ 500 million invested by SoftBank and Hony Capital . In August 2017, the company raised $ 4.4 billion from the SoftBank Vision Fund at a valuation of approximately $ 20 billion. In September 2017, WeWork expanded into Southeast Asia via

7521-449: The company reached a deal to become a public company via a special-purpose acquisition company with a $ 9 billion valuation and merge with BowX Acquisition Corp. Post merger, Mathrani would continue to remain CEO but Vivek Ranadivé from BowX and Deven Parekh from Insight Partners would join the new board. The merger was consummated in October 2021 and shares of WeWork began trading on the New York Stock Exchange . In August 2021, WeWork

7630-469: The company's board of directors. On September 13, 2019, the company announced changes to its corporate governance to include the ability for the board of directors to pick a new CEO and not having CEO Adam Neumann's family members on the board. Neumann also agreed to transfer to the company any profits from his real estate deals with the company. On September 17, 2019, amid growing investor concerns over its corporate governance, valuation, and outlook for

7739-527: The company's failed effort to go public and its related turmoil as "an implosion unlike any other in the history of start-ups", which it attributed to Neumann's questionable tenure and the easy money previously provided to him by SoftBank, led by Masayoshi Son . In August 2023 WeWork warned that it had 'substantial doubt' that it could stay in business, and might file for Chapter 11 bankruptcy protection. On October 31, 2023, reports circulated that WeWork would be filing for bankruptcy "imminently", which resulted in

7848-434: The company." Shortly after this claim was made, WeWork put an end to its unlimited beer for employees and implemented a policy of only four beers per day in the New York office. In June 2019, WeWork was sued by the former head of compensation, Lisa Bridges, for gender-based pay discrimination, particularly in granting stock options. She alleged that she was fired after discussing the issue. Also, in June 2019, Richard Markel,

7957-521: The deal by various groups, along with plans by the U.S. government to try to block the merger, Comcast called off the deal in April 2015. On May 26, 2015, Charter Communications announced that it would acquire Time Warner Cable for $ 78.7 billion, along with Bright House Networks in a separate $ 10.1 billion deal, pending regulatory approval. The purchase was completed on May 18, 2016; Charter had continued to do business as Time Warner Cable in its former markets, but has now re-branded these operations under

8066-689: The end of June 2023, the firm had more than 700 locations in 39 countries worldwide. At the time, WeWork spent more than 80% of its revenue on rent and interest, paying over $ 2.7 billion a year. On August 8, 2023, WeWork warned that it had "substantial doubt" that it can stay in business any longer and announced that it may have to file for Chapter 11 bankruptcy protection. WeWork said it would be trying to control its expenses, as well as reduce its rent and tenancy costs by restructuring and renegotiating leases with landlords. The company also said it would attempt to retain current occupants of its workspaces and try to raise money by selling some assets. The company made

8175-559: The fall of 2018 it would launch WeGrow, a private school for children aged 3 through students in grade 4. The first permanent location was in WeWork's New York headquarters. In September 2019, Rebekah Neumann resigned as CEO of WeGrow. The WeGrow school closed at the end of the 2019 academic year. In December 2017, the company opened its first location in Singapore . In January 2018, students taking online university courses from 2U were given access to WeWork common spaces and meeting rooms. In December 2018, WeWork opened its first location on

8284-410: The fifth-largest landline phone provider in the United States. As of 2013, Time Warner Cable's business division had the second largest business-facing enterprise by revenue (of cable providers who offer business services), with $ 1.7 billion in revenue as of the third quarter of 2013. Total revenue for 2012 was $ 1.9 billion. Prior to Time Warner Cable merging with Charter Communications, they offered

8393-729: The following week as its forbearance agreement with its creditors was scheduled to terminate effective November 6. As a result, WeWork's stock plunged an additional 37%. On November 6, WeWork's stock trading was suspended and halted, and WeWork filed a petition under Chapter 11 of the United States Bankruptcy Code in the United States District Court for the District of New Jersey shortly after that, listing liabilities of approximately $ 10 billion to $ 50 billion. Most of WeWork's office spaces will remain operational during

8502-443: The formation of Warner Cable Communications in 1977, creating test channels such as Pinwheel, Star Channel and even Sight on Sound; these would eventually be officially launched as Nickelodeon & The Movie Channel in 1979, and MTV in 1981 respectively. In 1979, American Express was brought in to form a joint-venture cable network and cable television firm called Warner-Amex Satellite Entertainment , and eventually Warner Cable

8611-435: The global coworking market was valued at $ 10.44 billion, and it's projected to grow by 14.6% during the forecast period according to Polaris Market Research . By 2024, the market is expected to reach $ 14.4 billion, continuing its impressive expansion. It is anticipated to grow at an average annual rate of 17.2%, reaching $ 37.4 billion by 2031. Since Neuberg started the coworking movement in 2005, San Francisco continues to have

8720-440: The impossible possible. The building Hommiku 5 was renovated and funded for digital professionals by Chi Keung Ivan Wong from Hong Kong. Coworking is also common in continental Europe, in places such as Stockholm and Brussels . Smaller urban areas with many young and creative people and especially College towns may offer coworking places. Cooperation between coworking spaces and academic environments are focused. In 2023,

8829-741: The jointly owned cable systems equal to their percentage of equity. Under this arrangement, Advance/Newhouse enjoys the proceeds of their actively managed systems rather than simply a percentage of the partnership's total earnings. The majority of the affected systems were in the Indianapolis , Tampa and Orlando markets under the Bright House Networks brand. The transactions proposed by Charter were approved, TWC and Bright House Networks have been absorbed into Charter. In Beaumont, Texas , during 2008, Time Warner Cable began testing tier-based metered data plans that effectively placed customers into

8938-459: The large country), some larger providers have expanded nationwide, with the distance between major cities an asset to both the coworking provider and the community. In India , Coworking business is very popular in metro city as Tier 2 and Tier 3 Cities of India. In India during 2017 and 2018 indicates a marked increase. While in 2017, the space leased was 1.9 million sq. ft., it increased more than two times to 3.9 million sq. ft. in 2018. India has

9047-582: The longer travel times women often face, especially as employees, when travelling to coworking spaces. Smaller coworking spaces largely house freelancers, and as the spaces grow bigger, they provide offices for companies or private individuals, which causes a decline in the ratio of freelancers. However, the trend has stagnated lately, and freelancers still make up 41% of coworking space members. The dominating industries for coworkers are IT, PR & sales. The survey also found that members are highly educated, with around 85% having finished an academic education, and

9156-599: The majority of places are situated on Hong Kong Island and there predominantly in the Central and Sheung Wan districts. The Malaysian state of Penang , long regarded as the Silicon Valley of the East , has also witnessed an increase in coworking spaces. Aside from privately owned startups , the Penang state government has embarked on a drive to convert colonial-era buildings in

9265-399: The name to Warner Cable. In the late 1980s, Warner Communications, which was in financial trouble at the time, planned to merge with Time Inc; which would lead to ATC becoming a sibling to Warner Cable. After a delay in the deal, Warner Communications officially merged with Time Inc. to create Time Warner in 1990; ATC & Warner Cable would eventually become part of a new division known as

9374-539: The name. In early September 2019, Neumann returned the $ 5.9 million to the company for the use of the trademark and gave the company all of the trademark rights for the "We" family trademarks. On August 27, 2019, WeWork acquired Spacious, a company that leases unused space from restaurants during daytime hours and then rents this space to remote workers . Spacious was shut down 4 months later, in December 2019. On September 4, 2019, WeWork added its first female director, Harvard Business School professor Frances Frei , to

9483-459: The oldest members with an average age of 38 and 40 years, respectively. Meanwhile, employees under the age of 30 make up 43% of the total workforce, with an average age of 33 years.In larger cities, where the ratio of employees is higher, the average age of members is lower at 34.5 years, while smaller cities with populations of less than 100,000 have an average member age of 38.5 years. Women represent an estimated 40% of workers in coworking spaces,

9592-405: The parent company of NBCUniversal .) When first launched, it used Scientific-Atlanta set-top boxes with DVR. In June 2009, Time Warner Cable unveiled a concept known as " TV Everywhere "—a means of allowing multi-platform access to live and on-demand content from television channels that is tied to a user's television subscription. It was first reported in October 2013 that Time Warner Cable

9701-653: The physical spaces, and it is recommended to start with building a coworking community first before considering opening a coworking place. However, some coworking places have no community building; they just get a part of an existing one by combining their opening with an event which attracts their target group. Coworking tends to fall into two sides: Those that are real-estate-centric (all about selling desks and offices first) while others are community-centric (focused on building community that happens to also have offices or desks). Players target freelance professionals, remote workers, and small to medium enterprises (SMEs) who need

9810-424: The plane had become a "red flag in the leadup to the company's IPO" and had created problems with employees who didn't receive promised bonuses or raises. In October 2019, Neumann received close to $ 1.7 billion from SoftBank for resigning from WeWork's board of directors and severing most of his ties to the company. The $ 1.7 billion included $ 970 million for his remaining shares, a $ 185 million consulting fee, and

9919-669: The press that showed that WeWork would miss its financial goals. By October 2016, the company had raised $ 1.7 billion in private capital. In October 2016, WeWork announced plans to open a fourth location in Central Square, Cambridge , with space for 550 desks. WeWork opened offices in Boston's Leather District and Fort Point in 2014. It also announced plans to open a location in Lincoln Square in Bellevue, Washington . In 2016, WeWork launched

10028-455: The prices of commercial spaces and bills rise, with coworking being up to 25% cheaper for most freelancers and businesses. In Hong Kong for example, dozens of coworking spaces have been set up to foster the rapidly growing startup community; according to Forbes it is among the leading tech locations in the world, along with New York City and Silicon Valley . Spread across almost all districts, coworking places can be found everywhere while

10137-581: The regional cable system clusters operated by Time Warner Cable were owned by the Time Warner Entertainment – Advance/Newhouse Partnership (TWEAN). In 2002, Advance/Newhouse Communications , unhappy with some of the operating policies of Time Warner Cable in the AOL Time Warner era, forced a restructuring of the TWEAN partnership such that Advance/Newhouse would actively manage and operate a portion of

10246-711: The second largest cable company in the United States by revenue behind only Comcast , operating in 29 states. Its corporate headquarters were located in the Time Warner Center in Midtown Manhattan , New York City, with other corporate offices in Stamford, Connecticut ; Charlotte, North Carolina ; and Herndon, Virginia . It was controlled by Warner Communications, then by Time Warner (later known as WarnerMedia and presently Warner Bros. Discovery ). The company had spun off its cable operations in March 2009 as part of

10355-408: The speed of the transaction damaged the organizational culture of CASE. In March 2016, WeWork raised $ 430 million in financing from Legend Holdings and Hony Capital , valuing the company at $ 16 billion. In June 2016, the company announced layoffs of 7% of its staff and implemented a temporary hiring freeze. In July 2016, WeWork fired and sued Joanna Strange, an employee who leaked information to

10464-495: The spin-out, Time Warner had held an 84% stake in Time Warner Cable. Non-TW shareholders received 0.083670 shares for each share already owned. This move made Time Warner Cable the largest cable operator in the United States owned solely by a single class of shareholders (without supervoting stock). Time Warner Cable launched DVR service in the Houston area in 2004. (TWC's Houston-area cable systems are now owned by Comcast,

10573-476: The temporary closure of 100 buildings in China due to the COVID-19 pandemic . In late March 2020, WeWork laid off 250 employees in an effort to lower expenses, followed by another round of employee layoffs at the end of April 2020. On June 5, 2020, McKelvey announced that he would be leaving WeWork at the end of the month. In 2020, the company vacated 66 locations and re-negotiated lower rent, deferrals, or other lease changes at more than 150 others. In March 2021,

10682-542: The third-largest startup ecosystem after China and the US with more than 5,200 startups. Now many major cities like Mumbai, Hyderabad, Bangalore, Delhi, Ahmedabad and Chennai have coworking spaces and they are increasing by the day due to the startups. In 2017, Europe ranked third as a region in terms of the number of coworking spaces, behind the United States (3,205) and Asia (3,975). France opened its first coworking space in 2008, La Cantine, located in Paris . The U.K.

10791-400: The worst possible time on the worst possible channels." A Time Warner Cable executive said normal monitoring procedures did not take effect because the glitch affected only a few areas. Time Warner Cable's divisions, from official website: Sold to Comcast Divisions that became Bright House Networks The American Customer Satisfaction Index (ACSI) ranked Time Warner Cable as one of

10900-560: Was added to the board of WeWork. John Santora was appointed as CEO the following month. In 2024, WeWork decided to exit the Indian market and sold its stake in WeWork India to Embassy Group. Some commentators opined that this was a distress sale because Embassy Group was itself selling part of its stake to outside investors but at a higher price than WeWork Inc. In September 2018, the company eliminated broad-based non-compete clauses to settle

11009-458: Was completed February 29, 2012, and as of June 2013 all of Insight Communications was absorbed into Time Warner Cable. On October 7, 2013, Time Warner Cable announced that it has agreed to acquire DukeNet Communications LLC for $ 600 million. DukeNet provides data and high-capacity bandwidth services to wireless carrier, data center, government, and enterprise customers in the Southeast. Some of

11118-419: Was exploring a sale of the company, possibly to Charter Communications. However, on November 22, 2013, reports surfaced that Comcast expressed interest in acquiring Time Warner Cable. Both companies were said to be placing bids for the company. Charter reiterated its interest in purchasing Time Warner Cable and increased its bid on January 14, 2014. On February 12, 2014, it was reported that Comcast had reached

11227-640: Was one of five co-working providers selected by the General Services Administration to provide services for the Federal government of the United States . In October 2021, WeWork announced a partnership with Cushman & Wakefield that included a $ 150 million investment in WeWork. In January 2022, WeWork announced the acquisition of Common Desk. During the 2022 Russian invasion of Ukraine , in March 2022, WeWork closed its offices in Russia. Later in 2022,

11336-513: Was preceded by European hacker spaces of the 1990s, where programmers would exchange skills and best practices. Some coworking places were developed by remote workers and entrepreneurs seeking an alternative to working in coffeehouses and cafes, or to isolation in independent or home offices. Another major factor that drives demand for coworking is the growing role of independent contractors , digital nomads , and remote or hybrid employees. Coworking in Asia has become very popular as space

11445-472: Was promised a well-paying job that never materialized, all while less-qualified white people were promoted." In June 2020, the lawsuit was forced into arbitration . In April 2020, SoftBank, then the largest shareholder of WeWork, cancelled its $ 3 billion tender offer to buy shares directly from some of WeWork's major stockholders, citing failure by WeWork to obtain certain regulatory approvals, new criminal and civil investigations, and government actions due to

11554-502: Was renamed to Warner-Amex Cable. WAC would eventually create the QUBE interactive service until it was shut down in 1984. On June 25, 1984, it was announced that the channels would be spun off into a public-traded corporation known as MTV Networks Inc. ; which was eventually purchased by Viacom International a year after. In December 1986, American Express sold its half ownership of Warner-Amex Cable back to Warner Communications; reverting

11663-406: Was reported that the U.S. Department of Justice was preparing to file an antitrust lawsuit against the companies in a bid to halt the merger, primarily because the merged company would have controlled 57 percent of the nation's broadband capacity. On April 24, 2015, Comcast officially announced that it had called off the merger. On May 25, 2015, Bloomberg News reported that Charter was "near"

11772-796: Was subject to regulatory approval, although due to the relatively smaller size of the companies and their media holdings, the deal was expected to face less resistance than the Comcast/TWC merger. The acquisition was completed on May 18, 2016. In 2017, Charter stopped using the TWC and BHN branding and fully integrate the two services' subscribers into the Spectrum brand, which was originally debuted in 2014 to market Charter's services. As of second quarter 2009, there were 14.6 million basic cable subscribers, 8.8 million Digital cable subscribers, 8.7 million Road Runner residential subscribers, 2.5 million DVR subscribers, and 4.5 million residential Digital Phone subscribers, which makes it

11881-617: Was under Time Warner, was swapped to Comcast, while Dallas was changed to Time Warner Cable (RR). In the Twin Cities , Minneapolis was Time Warner Cable and Saint Paul was Comcast. That whole market is now Comcast. Time Warner Cable purchased NaviSite (NAVI), a company providing cloud and hosting services, on February 1, 2011, for $ 230 million, roughly equating to $ 5.50 per share. On August 13, 2011, Time Warner Cable announced its purchase of Insight Communications for $ 3 billion acquiring Insight's 760,000 subscribers nationwide. The merger

#424575