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Looking to learn all I can about the Wing. Another members club that is centered around Women. I think they have been around for 2 years. Want to get an overall snapshot on them.
Hello! Thank you for your request to provide an overview of the members club, The Wing. The short version is that The Wing is a work and community space for women, founded by Audrey Gelman and Lauren Kassan and built upon the heritage of the Women's Club movement of the late 19th century. Amenities offered by The Wing include: co-working spaces, a café, a library and shower and beauty rooms. The Wing currently has one location, in New York, with 650 members and a waiting list of over 3,000 women. After securing $8 million in Series A funding, on the 5th of April 2017, The Wing will soon be opening three more locations in; Soho, Washington DC and Brooklyn. Membership to The Wing is charged at $215 per month or $2,250 per year, subject to a $100 registration fee. The Wing is reported to have an annual revenue of $2 million. Below you will find a deep-dive of my findings.
METHODOLOGY
I have scoured the company's corporate website for information including; company history, founders, locations, membership and company plans on expansion. For business and performance metrics I referred to industry reporting platforms, including Owler and Crunchbase. Furthermore, I have searched for interviews with the founder, Audrey Gelman, which provided insight into planned expansion and membership numbers.
Below you will find a comprehensive overview of the company.
COMPANY OVERVIEW AND HISTORY
The Wing is a work and community space for women, founded by Audrey Gelman and Lauren Kassan and built upon the heritage of the Women's Club movement of the late 19th century. Although the company was founded in 2015, it opened the doors of its first location (E. 20th Street between Park & Broadway, Penthouse, New York, NY 10003) in October 2016. After a recent funding round, the company is planning to open three more locations, located in; Soho, Washington DC and Brooklyn. In an interview with The Cut, CEO, Audrey Gelman, states that the Soho location will open in the fall of 2017, the location in Washington DC will open in the winter of 2017 and the Brooklyn location in early 2018.
The Wing's mission statement, as quoted from the company's 'Home' page, reads: "The Wing was born out of the belief that women need and deserve a multi-purpose space designed to make their lives easier, and that magic is created when women gather together."
The penthouse, currently serving as The Wing's only location, features amenities such as; a library, filled with books by women for women; a café, stocked with food and beverage from women-run establishments; a conference room as well as shower and beauty rooms, all stocked with products by women-owned companies. The company also hosts what they call 'happenings', which are events hosted at their location, which ranges from invitational speakers to Friday yoga sessions. For a full list of companies/brands The Wing has partnered with, please refer to the 'Partners' page on their website.
From Similarweb, a web-analytics platform, there is no indication that The Wing has a mobile app that links to the website, however we can see that the company's website has received over 70,000 page visits in May, 2017, and that this number is likely to increase. Also from this source, we see that the majority of The Wing's social media traffic arises from Instagram, where it has 110,000 followers.
MANAGEMENT AND FOUNDERS
Before founding The Wing, Audrey Gelman worked as a political and public relations consultant, and previously as Deputy Director of Communications to New York City Comptroller Scott M. Stringer. For more information on Audrey Gelman, please refer to her LinkedIn profile.
Before co-founding The Wing, Lauren Kassan was the Director of the Partner Empowerment division at ClassPass, and previously the Head of Business Development of the boutique fitness company, SLT. For more information on Lauren Kassan, please refer to her LinkedIn profile.
Before joining the team at The Wing, Marianna Martinelli expanded the membership program and Knotel Sessions series at Knotel. She was also the founding Membership Manager at Neuehouse. For more information on Marianna Martinelli, please refer to her LinkedIn profile.
MEMBERSHIP
Membership to The Wing requires an annual commitment and a once-off registration fee of $100. After registering, membership is charged at $215 per month or $2,250 annually.
Highlighted in an article on Forbes, The Wing opened its doors with 200 founding members, accruing a waiting-list of more than 1,300 women within weeks of starting business. In a recent interview with The Cut, CEO, Audrey Gelman, stated that The Wing currently has 650 members, with a waiting list of over 3,000 women hoping to join the exclusive club. No official membership numbers could be found on the company's website.
FUNDING AND FINANCIAL INFORMATION
The Wing has raised a total equity of $10.5 million in 2 funding rounds from 9 investors. Most recently, on the 5th of April 2017, the company raised $8 million in Series A funding, with New Enterprise Associates, a global venture capital firm, being cited as the lead investor.
Since The Wing is a private company, revenue is not reported publicly, however, Owler, a reliable industry reporting platform, estimates the company's annual revenue to be $2 million. This platform also reports on the top competitors for a company, which for The Wing is reported to be: The Hivery, The Riveter and Hera Hub.
CONCLUSION
To wrap it up, The Wing is a work and community space for women, founded by Audrey Gelman and Lauren Kassan and built upon the heritage of the Women's Club movement of the late 19th century. Amenities offered by The Wing include: co-working spaces, a café, a library and shower and beauty rooms. The Wing currently has one location, in New York, with 650 members and a waiting list of over 3,000 women. After securing $8 million in Series A funding, on the 5th of April 2017, The Wing will soon be opening three more locations in; Soho, Washington DC and Brooklyn. Membership to The Wing is charged at $215 per month or $2,250 per year, subject to a $100 registration fee. The Wing is reported to have an annual revenue of $2 million.
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