WeWork's math is based on "cost per membership," it said in the S-1. WeWork’s S-1 filing said it has 527,000 memberships, a term that inflates the number of members it has since an undisclosed portion of paid memberships are empty, unused desks. Members refers to the number of people of companies that lease space, while memberships refers to the number of desks and workstations members are paying for. The company charges per desk rather than the industry standard sq ft, and it allots around 250 square feet ft per person, which is 6% the norm for commercial offices industry wide. Many members pay for more desks that they actually use, in addition to which about 20% of memberships members are on-demand customers that pay a small a better day fee for access to the office twice a month.
WeWork’s S-1 filing said it has 527,000 memberships, a term that inflates the number of members it has since an undisclosed portion of paid memberships are empty, unused desks. Members refers to the number of people of companies that lease space, while memberships refers to the number of desks and workstations members are paying for. The company charges per desk rather than the industry standard sq ft, and it allots around 250 square feet ft per person, which is 6% the norm for commercial offices industry wide. Many members pay for more desks that they actually use, in addition to which about 20% of memberships members are on-demand customers that pay a small a better day fee for access to the office twice a month.