Supporting a start-up that’s changing the way we work
We’re backing a start-up that’s defining what “coworking” really means—and taking the concept all over the country.WeWork.com
WeWork opened its first location in the Meatpacking district in 2011, with the mission to provide creative co-working spaces for entrepreneurs, small business owners, and freelancers. When we found out about the concept, we were immediate fans. Their innovative mindset was very much like the one we knew from Under Armour—and with our background and insight, we were able to recognize the need for a new way to work, and an idea that was sure to take off across the nation.
We made an initial investment in WeWork—our biggest investment in a start-up company to date. Then, the discussion turned to expansion. We identified the perfect spot for a second location: the Tenderloin district in San Francisco. The district was rough around the edges, but close to everything in the city, with plenty of transportation options. WeWork founder Adam Neumann put together the programming, and with backing from War Horse, we began to bring the building to life.
The WeWork model continues to be extremely successful, providing people with the opportunity to work by themselves, but still feel like they’re part of a collective. We have continued to invest in WeWork and help them with new strategies—and over time, the company has grown to 200 locations in 64 cities.