WeWork, the $47 billion co-working company, is gearing up for an anticipated IPO in September.
Here’s what you need to know before it happens.
Like most other unicorns that went public, The We Company isn’t currently in profit. It lose billions in 2018 (both its revenue and losses doubled).
Adam Neumann, CEO and co-founder of the company, has been in the spotlight several times for his unordinary speeches and potential conflict of interest, as well as a range of widely distributed investments with WeWork money.
At the same time, Artie Minson, WeWork’s CFO, says the company will generate $2 billion in profit on the desks it’s opened in 2019, and it shows the importance of the ‘space-as-a-service’ model.
WeWork is reportedly expected to IPO in September, earlier than investors had thought.