The past two years for WeWork can best be described as interesting. While there was genuine excitement over the co-working space specialists coming to South Africa, an ill-fated IPO highlighted several glaring issues at the company for investors.
Add to that the turmoil of the COVID-19 pandemic and lockdown, and WeWork will be hoping 2021 is far more promising.
It is perhaps why the company recently detailed a rebranding of sorts for its parent organisation – The We Company – which will go back to be being referred to as WeWork.
“We want to be strategic. We want to be innovative. We want to be impactful. We want to be WeWork,” wrote CEO Sandeep Mathrani, in a memo obtained by Reuters.
“We are officially restoring our company name from The We Company to WeWork,” the memo added.
It is a rather innocuous decision, especially as most people opted to call the company WeWork anyway, whether they were talking about the holding business or one of its co-working locations.
Another potential reason for the change back, is that the “we” brand was introduced by co-founder Adam Neumann. Given his dramatic exit from the company and stories that have circulated since, it might be best to leave that aspect of his legacy at WeWork behind.
What this means for some of the holding company’s other investments remains to be seen, with it being forced to part with a few businesses in the wake of the IPO fallout in order to focus on its core business and technologies.
Either the way, the name change does not impact the everyday person on the street, as we always called it WeWork regardless.