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.

Free PDF book · 23 pages

Coworking Study & Report: Lessons from WeWork

By Dr. Preetesh Anand. Enter your details and the download starts straight away.

We also email you the link. No spam; unsubscribe in one click.

Operator's Weekly · 2026-10-21 · 4 min read

How to price a day pass and a meeting room in a Tier-2 city

Working numbers for day passes, meeting rooms and event halls in Tier-2 cities, and the one booking change that doubles room revenue.

Most coworking spaces in Tier-2 cities make 85 to 90 percent of their revenue from monthly desks and cabins and treat everything else as a favour to members. That leaves money on the table every single day, because the meeting room, the conference room and the event hall are the only inventory you can sell more than once.

Here is how we price them on a 100-seat floor in Patna, and the reasoning, so you can adjust for your city.

Start from the desk price

Everything is anchored to your dedicated desk. In Patna, Lucknow, Indore, Bhubaneswar or Jaipur, a dedicated desk sits between ₹6,000 and ₹9,000 a month in 2026; a hot desk 20 to 30 percent below that; a 4-seat cabin two to two-and-a-half times the dedicated desk per seat.

Take ₹7,500 as the dedicated desk. A working month has about 22 days, so one desk-day is roughly ₹340. That is the floor for a day pass, not the price.

Day pass: ₹299 to ₹499

Price the day pass slightly below the desk-day if you want it as a lead magnet, and above it if your desks are already full and the pass is for walk-ins.

  • Under 70 percent occupancy: ₹299 to ₹349. The day pass is a tour that pays for itself. Adjust it against the first month if the person joins; say so in the message.
  • Over 85 percent occupancy: ₹449 to ₹499, and a weekly pass at four times the day rate.

Sell it from a link, not a conversation (day passes turn walk-ins into leads). A person who has to message to ask "is a day pass available?" mostly does not. A page with the price, the date picker and UPI converts quietly at all hours.

Meeting room (4 to 6 seats): ₹400 to ₹600 an hour

The mistake here is pricing a 6-seat room at ₹200 an hour because "members use it free anyway". The outside market, a sales team from Delhi visiting Patna, a CA meeting clients, a startup interviewing, pays ₹500 an hour without blinking, because the alternative is a café.

  • Members: a monthly allowance (we give 10 hours on a dedicated desk), then the member rate at a 30 percent discount.
  • Outsiders: ₹500 an hour, ₹2,000 for a half day, ₹3,500 for a full day. Half-day packages sell more than hourly.

A single room booked 2 extra hours a day at ₹500 is ₹25,000 a month. That is more than three dedicated desks, from a room you already have.

Conference room (10 to 14 seats): ₹1,000 to ₹1,500 an hour

Price it per session, not per hour: ₹4,000 for a half day, ₹7,000 for a full day, with tea and water included and projector and whiteboard listed, because that is what the booker is comparing against a hotel's "business centre" at three times the price. Two bookings a week is ₹32,000 a month.

Event hall (30 to 60 people): ₹8,000 to ₹20,000

Weekday evenings and weekends are when the hall earns. Price the evening slot (6 to 9 pm) separately from the day, allow outside catering with a cleaning fee, and ask for 50 percent in advance through a payment link. Meet-ups, workshops and company town halls are your buyers; they find you on Google Maps, and they book the space that replies with a price and a link, not "please call to discuss".

The one change that doubles room revenue

Put the rooms on a public booking page with live availability and online payment, and share the link everywhere: Google Business Profile, Instagram bio, the WhatsApp auto-reply. We did this in month four. Room revenue went from about ₹18,000 a month, almost all from members at a discount, to ₹52,000 in month six, two-thirds of it from outsiders who had never set foot in the space before they paid.

Nothing about the rooms changed. The way to buy them did.

A simple rate card to copy

Item Members Outsiders
Day pass — ₹349 (adjusted on joining)
Meeting room, 6 seats 10 h/month included, then ₹350/h ₹500/h · ₹2,000 half day
Conference room, 12 seats ₹700/h ₹1,200/h · ₹4,000 half day · ₹7,000 day
Event hall, 50 people ₹6,000 evening ₹8,000 evening · ₹15,000 day

Adjust 20 percent either way for your city and keep the structure. Then make all of it bookable from a link. CoWorkRM's public booking pages do exactly this, paid through your own UPI or gateway, and you can see them running on a real space in the 30-minute demo.

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

← All posts

Get started

Get 30 days free.

Your space is set up the same working day on WhatsApp — no card, no app change for your members.

✆