As part of its memberships, WeWork offers a workplace data analytics solution, which provides enterprises "insights" on space use, future needs and associated costs, according to The We Company's IPO prospectus released Wednesday.
The company provides real estate and operations software to help with workplace seating charts and service requests, according to its S-1 form. Memberships also include access to "experience technology," like calendar integrations, room booking apps and guest registration kiosks.
A combination of proprietary and third-party solutions make up WeWork's "enterprise-ready" technologies. The WeWork app, developed internally, uses third-party and open source software.
WeWork operates its solution — physical spaces — in a Silicon Valley-like manner (with Silicon Valley levels of losses). Along the way, it has purchased technology-oriented companies to support its business.
In September 2018, WeWork acquired Teem Technologies for $94.2 million, which offers SaaS workplace management solutions, including real-time space analytics and indoor navigation. When the plan was announced, WeWork said it would maintain Teem as an independent business line while supporting "Powered by We" clients.
WeWork uses Powered By We for its enterprise customers with more than 1,000 employees, which include businesses GE and Microsoft.
The company also bought Flatiron School in 2017, which operates under The We Company umbrella, offering courses in software engineering and data science. The acquisition draws on industry's insatiable hunger for tech talent.
Capitalizing on the service trend with "space as a service," WeWork opened its first "member community" coworking space in New York in early 2010. The company now has more than 528 locations across the world and has 527,000 memberships, according to the S-1.
It serves as a "platform" for supplying services, space and products.
Industry is scrutinizing WeWork's financials, with close attention to its losses. In 2018, WeWork brought in $1.82 billion in revenue, but bleeding cash, it had $1.6 billion in losses.
Among other things, WeWork is banking on increasing its enterprise customer base. Memberships in that category accounted for 40% of its members as of June 2019, up from 20% in March 2017.
Convenience is a motivating factor for customers. WeWork takes care of business office needs, everything from front-desk support and business-class printers to fresh fruit water and "craft on draft."