• General
  • August 10, 2019
  • 3 minutes read

WeWork Will Reportedly Unveil IPO Filing As Soon As Next Week

WeWork co-founder Miguel McKelvey Photo by Stephen McCarthy / Collision / Sportsfile According to a report from Bloomberg News, WeWork is…

WeWork co-founder Miguel McKelvey

Photo by Stephen McCarthy / Collision / Sportsfile

According to a report from Bloomberg News, WeWork is planning to publicly unveil its IPO filing as soon as next week, a few months after it confidentially filed with the SEC. Such filing will give the general public better insight into WeWork’s business, which although has generated significant revenues, is still plagued by losses and questions and queries concerning sustainability of its business model.

Bloomberg reports WeWork is looking to raise more than $3.5 billion from the initial public offering (IPO). The New York-based company is also said to be working on a debt offering of up to $6 billion, that’s contingent on it raising at least $3 billion from its IPO.

WeWork started disclosing select financial stats after it began selling bonds last year. The shared workspace company recorded $1.8 billion in 2018 revenue, but with $1.9 billion in losses. This was up 103% from $886 million in 2017, but with $933 million in losses in the same year.

WeWork’s IPO could be the second-largest this year, after that of Uber, which went public in May.


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