CALGARY (February 20) – WeWork today formally opens its two new Calgary locations at The Edison and WeWork Stephen Avenue Place in a ribbon cutting ceremony headlined by Mayor Naheed Nenshi, Calgary Economic Development, Councillor Druh Farrell, and WeWork General Manager for Canada, Stephen Tapp.
 
What: Opening Celebration + Ribbon Cutting for WeWork’s Calgary Launch
Where: WeWork The Edison, 23rd Floor (150 9 Avenue Southwest)
When: Thursday, February 20 from 5-8pm
 
“This launch is not about new offices in Calgary. Rather, it’s about reinventing the way people work through designed space, flexibility, technology, and community, says Tapp.
 
WeWork pioneered a co-working and space-as-a-service platform that offers the benefits of a collaborative culture, the flexibility to access workspace globally through a single provider and scale it up and down as needed, and the power of a worldwide community, all for a lower cost.
 
WeWork has spent the last decade creating innovative, new environments that bring people together -- from freelancers and SMBs to global Fortune 500 enterprises -- all under a shared roof and through a global platform that spans 625 locations in 127 cities across 33 countries.
 
Enterprise companies want to be as nimble and innovative as a startup, and startups want to become scalable enterprises. Both have much to gain from one another, and WeWork is the only space-as-a-service platform capable of bringing those synergies together for shared benefit, innovation, and community with 600,000+ memberships that represent companies of all sizes across many industries, with 43% consisting of large enterprise companies.
 
With eight existing and announced locations in Vancouver and Burnaby, four in Montreal, and 12 in Toronto, WeWork already has a robust presence across Canada. The addition of Calgary is an essential part of WeWork’s strategic growth plan for Canada by creating an essential connection across the country and the globe.
 
In Calgary, WeWork will collaboratively build the same opportunities realized in other cities through its global member network right here.  WeWork at The Edison and WeWork Stephen Avenue Place are thriving workspaces ready to support and propel Calgarians forward just as much as they are enticing opportunities for global innovators to tap into Calgary’s incredible pool of talent and put down or further grow their roots.
 
 
WeWork Global Footprint
●     600,000+ members globally
●     625 locations
●     127 cities
●     33 countries
 
About WeWork
WeWork is the World’s Leading Co-Working and Space-as-a-Service Platform. At WeWork, we are reinventing the way people work through designed space, flexibility, technology and community. We pioneered a co-working and space-as-a-service platform that offers the benefits of a collaborative culture, the flexibility to access workspace globally through a single provider and scale it up and down as needed, and the power of a worldwide community, all for a lower cost.
 
WeWork has spent the last decade creating innovative, new environments for people to work -- from freelancers and SMBs to global Fortune 500 enterprises. Our global platform spans 625 locations in 127 cities across 33 countries. Our 600,000+ memberships represent companies of all sizes across many industries, with 43% consisting of large enterprise companies.
 
WeWork Announces New CEO:
On Saturday, February 1, WeWork (or “the Company”) announced that Sandeep Mathrani will join the Company as Chief Executive Officer and a member of the Board of Directors, effective February 18, 2020. Mathrani will report to Marcelo Claure, who will remain Executive Chairman. Mathrani brings to WeWork extensive leadership experience in real estate, with a proven track record of transforming companies and driving meaningful growth to create value for stakeholders. Mathrani’s deep real estate experience and skills are highly complementary with those of Claure.

Mathrani succeeds co-CEOs Artie Minson and Sebastian Gunningham, both of whom helped stabilize WeWork over the past several months. Minson and Gunningham will remain with the Company through a transition period to ensure a smooth onboarding process.

●     Claure said:
○     “Over the past 100 days since I joined WeWork, we have made tremendous progress strengthening the business. As an important first step, we have recapitalized the business and have a plan that will provide us access to in excess of $2.5 billion in liquidity to execute our growth plans. With a strong liquidity position in place, we have also established a five-year, growth-led transformation plan that we believe will position WeWork to achieve profitability on an adjusted EBITDA basis by 2021 and positive free cash flow in 2022. We continue to make important changes to implement a strong management team that better enables the Company to execute.”
●     Mathrani said:
○     “I am honored to be joining WeWork at this pivotal time in its history. The Company has redefined how people and companies approach work with an innovative platform, exceptionally talented team and significant potential if we stick to our shared values and maintain our members-first focus. I am grateful for the confidence Marcelo and the Board have placed in me and look forward to partnering with Marcelo and the very talented employees at WeWork.”