WeWork Chairman has High Hopes for 2021

July 12, 2020
Share this Post: 

WeWork has seen its ups and downs, and downs… and more downs, but the company’s chairman has a more positive outlook for 2021, predicting operational profitability by the end of next year

Marcelo Claure became WeWork’s chairman after Adam Neumann, the notorious co-founder of the company, resigned his position as CEO last fall. Claure is also the COO of SoftBank Group, one of the biggest corporate supporters of the coworking space aggregator. 

Claure has deep experience when it comes to helping companies turn around their profits. He is credited with doing so for companies like Sprint back in 2015 after it was acquired by SoftBank.

The COVID crisis called for remote work to run rampant in markets across the world which spelled trouble for WeWork, a company that banks on people working in their specifically curated office spaces. This caused the company to cut down on employees, close operating office buildings, and sell its shares in other companies to make ends meet. 

Claure still has confidence that things are looking up for the company. And he would know, considering his track record. Still, WeWork has received a number of low blows even before the virus began its global spread. It’s now a matter of ‘wait and see.’

For a more comprehensive timeline of WeWork's lifecycle, check out our WeWork timeline infographic.

Read more

July 12, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 120120670
Zillow and CoStar Share Prices Shift on News of NAR Shock Settlement

The trajectories of real estate portals in the United States may be about to diverge as the National Association of...

Read More
Shutterstock 1454624438
U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions...

Read More
Onthemarket Employees
OnTheMarket PR Push Continues with Agent Signups and Roadshow

The UK's number three portal OnTheMarket (OTM) is definitely ramping up its PR in the early months of 2024 with...

Read More
Product Roundup 13March24
Product Roundup: FangDD, Yandex, Redfin, Realtor.com, Keyper, OneDome and MagicBricks

Another week, another big product roundup for portals and proptechs worldwide. Here's what we've spotted...   FangDD shares soar 80%...

Read More

Editor's Pick