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Who are stakeholders of WeWork? Why does considering themselves as a tech company fail the company?

Who are stakeholders of WeWork?
Why does considering themselves as a tech company fail the company?
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Adam Nuemann and Miguel McKelvey co-founded the New York City co-working space company in 2010. With currently 528 locations and 527,000 members worldwide, it has recently rebranded itself and diversified outside of office rentals, adding new companies including WeLive co-living apartments, and a WeGrow learning site run by Nuemann's wife Rebekah Paltrow.
When We Co. moves to the market, some are concerned about the mounting losses of the group. It reached a valuation of $47 billion in its latest private financing round. Like the ride-hailing giants Uber and Lyft, the We Co's high valuation goes hand in hand with major losses, with $1.6 billion in 2018 sales of $1.8 billion. SoftBank is the second largest investor in the We Co. group in Japan. Vice Chairman Ron Fisher is the executive known for his role in the real estate leasing company's multi-billion dollar investment. JPMorgan Chase & Co. (JPM) big U.S. bank has a long-standing partnership with We Co and its owner. JPMorgan's CEO Jamie Dimon is an advisor to Adam Nuemann, with his company first buying a stake in the WeWork five years ago. The bank has supported the We Co with more capital than any other investor, enabling it to become a industry leader.

The business is losing money hand over fist (not an unusual occurrence for unicorns, but not exactly a ringing penny-pinching endorsement of WeWork). Gender and age discrimination allegations as well as self-dealing have also beset it. The company, which avoided spending and risk by leasing rather than buying property, was in fact leasing property from WeWork CEO Adam Neumann and making it millions. The company bought those buildings after review to prevent signs of dispute. Neumann cashed out the company more than $700 million in a combination of stock sales and equity the S-1 notes his last stock sale was in "late 2017" Given the far-reaching efforts of its founder, WeWork has only two revenue lines: the dominant "membership and revenue system" literally what members pay to lease their office space as well as any bonuses, such as booking a conference room and "other revenue," consisting of sponsorships and WeWork-branded events ticket sales. And while WeWork's tech integration is certainly valuable to its customers (and its main product is office space to optimize how it operates its business). And that's not a product of tech.

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