WeWork To Open Two New Tel Aviv Workspaces

September 4, 2016 | Co-working space WeWork has announced that it will double its presence in Tel Aviv with the opening of two new Tel Aviv locations – Ibn Gabirol and Hazerem – and the expansion of the Herzliya Pituach location. WeWork Ibn Gabirol and WeWork Hazerem are expected to be open by the end of 2016, marking the 5^th and 6^th locations launched in Israel of the US-based firm, since entering the Israeli market two years ago. Herzliya Pitucah, the 2^nd location to open in Israel, is also expanding due to high demand. The new locations in Israel come at a time of global expansion for WeWork. In 2016, the company has opened its first locations in Montréal, Mexico City, Berlin, Shanghai and Seoul, with plans to come to Paris in 2017. Founded in 2010 by Adam Neumann and Miguel McKelvey, WeWork runs 77 sites in 23 cities around the world, including Berlin, London, Boston, New York and San Francisco, providing professionally designed workspace, as well as other services (insurance, consultancy, etc) that startups need in order to scale up. The company has achieved a valuation of $5-10 billion, after raising over $1 billion from institutional investors, including Goldman Sachs, Fidelity, J.P. Morgan and the Harvard Management Company.