Co-working wasn't new when WeWork Cos. came along, but the office-sharing company made it cool, enticing millennials and entrepreneurs with amenities like hip furniture, beer on tap and puppy parties.
Now, after a botched initial public offering, the ouster of founder Adam Neumann and a $9.5 billion bailout from SoftBank Group Corp., the startup faces an uncertain future as it tries to mount a turnaround with its brand tainted by weeks of financial turmoil.
"There was a cool factor that has blown up into bits," said Eric Schiffer, chairman of Reputation Management Consultants, a crisis public relations firm. "The debacle that occurred under Adam Neumann's management is highly damaging to WeWork."