Leaflet · The story of

WeCrashed

WeWork grew from a single New York coworking space into a $47 billion company in under a decade. Within a year, most of that value was gone.

In 2022 the story became an 8-episode Apple TV+ series based on Wondery's podcast WeCrashed: The Rise and Fall of WeWork, with Jared Leto as Adam Neumann and Anne Hathaway as Rebekah Neumann. It premiered on 18 March 2022.

From the book
Coworking Study & Report, by Dr. Preetesh Anand
The real timeline
  1. 2010 · The startAdam Neumann and Miguel McKelvey open the first WeWork in New York.
  2. 2017 · Rocket fuelSoftBank pours in billions and expansion goes global.
  3. Jan 2019 · The peakValued at $47B, with about 850 locations worldwide.
  4. Sep 2019 · IPO collapsesInvestors balk at the losses, founder control and governance. Neumann steps down.
  5. Oct 2021 · ListedWeWork goes public via a SPAC at about $9B.
  6. Nov 2023 · BankruptcyChapter 11 filing with nearly $19B in debt.
  7. Jun 2024 · RestartExits bankruptcy with $4B+ of debt wiped out; Yardi becomes majority owner.
  8. 2025 · Back to basicsPositive EBITDA, about 170 US & Canada sites, profit-first deals.
In numbers
$47B2019 peak
~$9B2021 listing
$0.27BAug 2023
850 → ~170locations, global peak to US & Canada in 2025
~$12Bfuture rent cut in the restructuring
3 lessons for your space
  1. Match lease length to how long members commit.
  2. Every centre must reach break-even on its own.
  3. Grow when you're full, not when you're excited.

All 7 lessons, the World & India market report and the property-owner playbook are in the free book.

Sources: Apple TV+ press, Fortune/Bloomberg, Bisnow, CRE Daily, Barchart.

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Operator's Weekly · 2026-10-22 · 4 min read

Coworking space in Mumbai: what it costs to run one and how to fill it (2026)

Rents, desk and cabin prices, members, enquiry sources and the follow-up that fills a coworking space in Mumbai: a guide for operators.

This is a working note for anyone running, or about to open, a coworking space in Mumbai. The numbers are 2026 ranges from operators we talk to and listings we track; your building, floor and finish will move them, but the structure holds.

Where the spaces are, and what the rent is

The coworking map of Mumbai is concentrated in Andheri East, BKC, Lower Parel, Powai, Thane and Navi Mumbai (Vashi, Belapur). Commercial rent there runs ₹120–₹250 per sq ft a month in BKC and Lower Parel, ₹60–₹110 in Andheri and Powai, ₹40–₹70 in Navi Mumbai and Thane. Rent is the number that decides everything else: a 5,000 sq ft floor is the whole business plan, before a single desk is sold.

What members pay

Plan Typical price in Mumbai (per month, GST extra)
Hot desk ₹6,000–₹11,000
Dedicated desk ₹9,000–₹18,000
4-seat cabin ₹55,000–₹1,10,000

Price the dedicated desk first and anchor the rest to it: hot desk 25–35 percent lower, cabins at two to two-and-a-half times the desk per seat, and a day pass just under one desk-day (the dedicated desk divided by 22).

Who the members are

In Mumbai, the people filling the desks are finance and media firms taking 4–10 cabins, consultants and CA practices, film and content teams needing rooms by the day, and professionals cutting a two-hour commute by working near home. Knowing this changes the pitch: the IT team wants 24×7 access and a stable internet SLA; the consultant wants the GST invoice and a meeting room; the remote employee wants a quiet desk and a good chair. One space can serve all three, but the plans and the messages should not be the same.

Where the enquiries come from

Enquiries in Mumbai come mostly from brokers (who expect 1–2 months' rent on cabins), Google Maps for individuals, LinkedIn for the firms, and walk-ins in the commercial towers. Whatever the channel, the first contact is a WhatsApp message or a missed call, usually in the evening.

The local problem is this: rent is the business: a 100-seat space in Andheri carries ₹8–12 lakh a month before salaries, so a month of 70 percent occupancy is a loss, and every empty cabin is a line item the owner feels.

What fills desks here

cabins sold on 11-month agreements with deposits and GST invoices on the 1st are what keep a Mumbai space alive; renewals 30 days early, not 3, are the single most valuable message you send.

Three habits that work in every city, and especially in Mumbai:

  1. Reply in a minute, automatically, with two tour slots to tap (WhatsApp inbox). The reply rate on a message answered in two minutes is several times that of one answered the next morning.
  2. Give every enquiry an owner and a next action (CRM), the moment it arrives, whatever the channel. One list, opened every morning.
  3. Confirm the tour with the address and a map, and remind an hour before. No-shows halve.

Rooms and day passes: the revenue most spaces skip

In Mumbai, day-rate conference rooms and event space for product launches and press meets earn ₹15,000–₹40,000 a day in the right building; most spaces under-sell them because booking means a phone call. Put the rooms and the day pass on a public booking page with online payment and share the link on Google Maps and Instagram; the spaces that did this roughly doubled room revenue without changing the rooms.

Staff, attendance and the 1st

A typical space here runs a manager, two front-desk shifts, security and housekeeping; the local-train timetable decides when your staff can be on the floor, so shifts and attendance need a system, not a register. Month-end, the invoices with GST, the reminders on the due date and the receipts are three days of one person's time by hand, and the single most common reason collections slip is that the person doing it was on leave (attendance and payroll run from the same records).

The short version for Mumbai

  • Know your rent per desk before you set a price; price the dedicated desk first.
  • Answer WhatsApp in a minute, offer two tour slots, confirm with a map.
  • Sell rooms and day passes from a link, at outsider rates.
  • Invoices on the 1st, reminders on the due date, renewals 30 days early.

CoWorkRM runs all of this for spaces in Mumbai from one login, priced per location in rupees, set up on WhatsApp the same working day. See it on your own numbers — the demo takes 30 minutes.

OW
Operator's Weekly
Notes for coworking operators in Mumbai · by the CoWorkRM team

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