The We Company, which is still gearing up for its long anticipated IPO, is set to open the first four new office facilities in Utah.
The nine-year-old New York City-based company, which rebranded earlier this year from WeWork (now a division) to We Company, has piled up some $13 billion in venture backing since its launch, mostly from Japanese multinational SoftBank Group. The financing has driven growth that's helped the company put 485 flex/co-working facilities into 105 cities in 28 countries.
The company is bullish on Utah and has plans in place to open over 4,000 new individual workspaces in four large facilities along the Wasatch Front in the coming year. The first of two projects planned for the Innovation Pointe building in Lehi that hosts some 970 desks, with a second phase and another 980 workspaces due to come online at the same address in early 2020.
BYU alumnus Nathan Lenahan, WeWork Vice President and Mountain West region General Manager, said as a person with close ties to Utah he was excited about bringing WeWork's flex office service to the state.
“While I currently live in Texas, every time I'm back in Utah it feels like home," Lenahan said. "My time at BYU and in Utah's Army National Guard were some of the most formative experiences I've had and it's so exciting to pay forward the generosity the Beehive State has given me by helping bring WeWork to Utah.
“WeWork might be a global company, but we show up with a hyperlocal playbook built to serve our members no matter where they are from or the size or stage of their organization, from a two-person startup to the one-third of Fortune 500 companies that call WeWork home."
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