WeWork ($PRIVATE:WEWORK) is going public, and it's scaling up - in terms of staff, and users.
But not everyone is a satisfied customer.
From what we can infer about data coming from WeWork app ratings on multiple platforms, the company is on-boarding users at an even faster pace, which signals growth that institutional investors should find exciting come time for its road show.
Our first chart tracks the startup's Google ($GOOG) Play app store ratings - and in 2019 they rose by 271 so far, after a 62% increase (or, 170 ratings) last year. For all market pundits' hemming and hawing over valuation and strategy (OK: there's this), the company's downloads reflect rising trajectory.
Similarly, Apple ($AAPL) app store ratings have taken off in recent months - although Google's are greater in number. So far this year, Apple app store ratings are up 77%. And - as we all know - not every app user, translates to a review. Our ratings count tracks by raw number - so ostensibly, some of the reviews could be negative - but an increase still shows growth in engagement.
But not all of that engagement is great - in fact, WeWork alternative data generated from app reviews reflects a decline in rating by users - so even though they're growing in number, these aren't necessarily satisfied customers.
WeWork alternative data generated from app reviews reflects a decline in rating by users - so even though they're growing in number, these aren't necessarily satisfied customers.
Our alternative data also tracks categories across the organization where WeWork is staffing up in anticipation of its offering.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- WeWork once kinda evicted us, but no hard feelings and congrats on the offering, guys
- WeWork shifts focus from small- to medium-sized businesses
- WeWork is cutting hot-desk prices in emerging markets before its IPO
