WeWork nabbed a fresh $1.1 billion in financing from SoftBank as the coworking giant's membership dropped
and start reading now.
The company ended the second quarter with 612,000 memberships, down from 693,000 memberships at the start of the quarter. Now, WeWork's numbers are more in line with the third quarter of 2019, when it had 609,000 memberships. "Though revenue is down from Q1 due to COVID-19-related business disruptions, our overall financial foundation as well as our sales pipeline continues to grow stronger," Ross wrote in the email.
WeWork, like other real estate and flexible-office providers, is grappling with the global effects of the pandemic on its business.
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