The co-working-space company did not reveal financial information as part of the filing. WeWork hasn’t yet selected bankers for the offering, and is aiming to go public for the third or fourth quarter of 2019. In January, the firm was valued at US$47 billion, at which point it rebranded to The We Company, which it characterized as a reflection of its growing ambitions outside the office-space business. (Wall Street Journal, Axios)
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The co-working-space company did not reveal financial information as part of the filing. WeWork hasn’t yet selected bankers for the offering, and is aiming to go public for the third or fourth quarter of 2019. In January, the firm was valued at US$47 billion, at which point it rebranded to The We Company, which it characterized as a reflection of its growing ambitions outside the office-space business. (Wall Street Journal, Axios)
Talking point: WeWork is the latest in a series of high-profile tech firms recently filing to go public, including Zoom Video Communications, Lyft, Pinterest and PagerDuty. If WeWork goes public at its January valuation number, it would be the second-highest among U.S. venture-backed companies. Only Uber—which is looking for a US$90-billion valuation—is higher. Going public should come with an influx of capital for WeWork. That could be helpful, as the January valuation was prompted by a US$2-billion investment from SoftBank, which, at one point, was reportedly considering investing as much as US$16 billion into the company.
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