WeWork uses aspirational language to brand its business of providing flexible office leases, a strategy that has lured billions in funding.
, another recent tech IPO, reported a loss of more than $5 billion in its second quarter, which it largely blamed on stock-based compensation from the IPO.Romantic language in WeWork's public filing illustrates how it brands itself as much more than a real estate company. In its S-1, the We Company, to which WeWork recently rebranded, portrays itself as a firm that shirks stuffy corporate culture and invents its own lingo.
Employees at the company's workspaces are a "community team" made up of "strong operators" who are "also mission-driven individuals inspired by the opportunity to connect and empower others," according to the filing.
Even the designs of its offices help facilitate an inspiring working space, according to the filing. The company said in its S-1 that its spaces "reflect freedom of expression at local level as part of our global-local playbook."As part of its public offering, CEO Adam Neumann and his wife and chief brand and impact officer, Rebekah, pledged to give $1 billion to fund charitable causes within the first 10 years of the offering, according to the S-1.
In addition to serving as founder and CEO of the company's education unit, WeGrow, Rebekah Neumann is described as a "strategic thought partner" to Adam Neumann in the S-1. The company said she has never received a salary. The We Company contends that its "powerful brand, global footprint, scalable business model and cost advantage are significant competitive advantages that will allow us to further penetrate existing and new markets and maximize the future impact of the WeWork effect."
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