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The joy of sharing_WeWork


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Fred Lu is the GM for WeWork China. Prior to WeWork, Fred held different management positions at either Greater China or APAC levels for companies like Baidu, Dell, Microsoft and GE. Fred comes with rich experiences running P&Ls in domestic and international environment. Fred Lu is a degree holder of MBA from Rutgers University and BE from Beijing Institute of Technology.

In this presentation, Fred will talk about what drives WeWork to create collaborative and shared spaces that work in the larger interests of their tenants, company and most importantly, the environment.

Published in: Business
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The joy of sharing_WeWork

  1. 1. THE SHARING ECONOMY WEWORK, Shanghai YangPing Lu
  2. 2. PORTFOLIO 16,300 Growth 87% 83% 240% Locations 9 24 Markets: NYC NYC NYC SF SF SF LA LA LA DC BOS SEA LDN TLV* AMST* PORTHE COMMUNITY OF CREATORS PORTFOLIO 16,300 Growth 87% 83% 240% Locations 9 24 Markets: NYC NYC NYC SF SF SF LA LA LA DC BOS SEA LDN TLV* AMST* Members Locations GROWING RAPIDLY DC NYC BOS ATX CHI SEA SF LA ESTABLISHED IN KEY MARKETS Currently Open Opens in Q1 2016 114% CAGR PHI MIA Stable locations are those in which all phases were open forbusiness for at least 6 months as of January 1,2015. 1,900 3,900 5,300 16,100 40,000+ 0 10 20 30 40 50 60 – 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 2011 2012 2013 2014 2015P LON AMS TLV South Station | BOSMeatpacking | NYC South Station | BOSChinatown | DC South Bank | LON DEN ATL MONTOR WHO WE ARE
  3. 3. SHARING AS A PART OF CHINESE CULTURE AND VALUES A meal in China A meal in the US China’s approach to old age Western approach to old age
  4. 4. ENABLING ACCESS 4 The WEWORK way.. The Old way… Shared co-living spaces Individual row homes
  6. 6. 6 Social 24% Business Needs 41% Networking , 8% Hiring 6% Buy/Sell 5% Other, 16% POWERFUL NETWORK 60% OF NETWORK ACTIVITY IS BUSINESS RELATED NETWORK SHARING
  7. 7. $7,800 $6,375 $2,550 $825 $600 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 WeWork Standard Office Lease AnnualSpaceCostperEmployee Administrative Expenses (Lease Administration, Office Mgmt) Office Expenses (Internet, Printers, Supplies) Occupancy Expenses (Cleaning, Utilities, Maintainence, etc.) Up-Front Costs (Design, Construction, Legal) Membership Fee / Rent Expense REAL SAVINGS In addition to meaningful financial savings compared to the alternative, WeWork offers substantial convenience, community and network value BETTER VALUE, ON DEMAND WEWORK COST VS STANDARD LEASE(1) (1) WeWork Membership Fee assumes $650 per month. StandardOffice Lease assumes 150 square feet per employee,Rent Expense of $42.50per sq. ft.; Up-Front Costs of $85.00persq. ft. amortized over five years; Operating, Office andAdministrative Expense assumptionsbased on WeWork research Source: Member Surveys $7,800 $10,350 25% SAVINGS Confidential
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