WeWork is growing rapidly as it expands co-working spaces into more cities, but it's a very costly business.
WeWork, the company whose co-working spaces are populating many of the world's biggest cities, said that revenue last year more than doubled, though its losses are growing just as fast.
WeWork's business model continues to rely on heavy funding from private investors, namely SoftBank, which has poured over $10 billion into the company, including $2 billion this year. WeWork has to plunge cash into real estate in some of the most expensive markets and makes money back over time as companies and individuals pay their rent, or membership.
In January, WeWorks said that it's rebranding as the We Company as it intends to expand beyond just work spaces. The company has touted its move into residential living communities, dubbed WeLive, and early education schools called WeGrow. Each of those business segments will run as stand-alone units under the new We Company umbrella.
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