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WeWork's head of enterprise sales is out, leaving a role that's key to the coworking giant's turnaround plan vacant

Published by Business Insider on Sat, 15 Feb 2020

WeWork's head of enterprise sales has left the company, Business Insider has learned.Grant McGrail spent three years at WeWork.Working with major companies, rather than freelancers and entrepreneurs, is a key growth area for WeWork as the company seeks more stable revenue sources.Last year, WeWork came in under target for enterprise desks in North America, according to internal data obtained by Business Insider in January.Click here for more WeWork stories.Grant McGrail, WeWork's head of enterprise sales, has abruptly departed the company after three years, Business Insider has learned.McGrail joined WeWork in April 2017, according to his LinkedIn profile, just as the office company was shifting from its original focus on freelance and entrepreneur tenants to big companies, which can write bigger and more consistent checks.Based in San Francisco, McGrail, the senior vice president of account sales and strategic alliances, led a business whose clients include Slack, Oscar, and Glassdoor.Before WeWork, McGrail spent a year as a senior director of sales for Oracle and was previously at NetSuite, which was acquired by Oracle, for eight years.McGrail did not respond to a request for comment. A WeWork spokeswoman confirmed his departure and declined further comment.Enterprise is a major growth focusWeWork calls companies with more than 500 employees enterprise clients, and its list of customers includes giants like IBM and BlackRock.Overall, enterprise accounted for 264,000 of WeWork's third-quarter memberships, or 43% of the totalup from 34% a year agoaccording to investor documents reviewed by Business Insider.Last year, WeWork came in under target for enterprise desks in North America, according to internal data obtained by Business Insider in January. The company's global 2019 numbers should be available to investors next month.In 2019, WeWork added 108,000 new desks for enterprise clients in North America, representing 73% of the target. Though WeWork fell short of its enterprise-desk goal, the company recorded $1.9 billion in "committed revenue"noncancelable contracts that will turn into revenuewhich represented 113% of the target.Since October, WeWork, under SoftBank Chief Operating Officer Marcelo Claure's leadership as chairman, has been restructuring its business. In the fall, Claure fired employees who didn't follow company policy and created a five-year turnaround plan.He has also reassured enterprise clients that WeWork is stable. On Thursday, he highlighted the pharmaceutical giant Merck's new WeWork outpost in Philadelphia. Next up is new leadership. SoftBank brought on Sandeep Mathrani as CEO. Mathrani last led the mall giant GGP as a disciplined operationally focused leader. He starts on Tuesday.Have a WeWork tip' Contact this reporter via encrypted messaging app Signal at +1 (646) 768-1627 using a nonwork phone, email atmmorris@businessinsider.com, or Twitter DM at@MeghanEMorris. (PR pitches by email only, please.) You can alsocontact Business Insider securely via SecureDrop.SEE ALSO:WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.DON'T MISS:'We fell short in Q4': WeWork only hit 73% of an internal enterprise growth target in 2019, leaked memo showsJoin the conversation about this storyNOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. Here's how the company makes money.
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