WeWork owner The We Company joins IPO stampede: Reuters
Summary
(Reuters) – WeWork owner The We Company said on Monday it had filed for an initial public offering (IPO) with U.S. regulators, the latest in a swarm of U.S. startups planning a stock market debut this year. WeWork, recently valued at $47 billion in a private fundraising round, said its amended IPO registration with the U.S. Securities and Exchange Commission will help it decide if it is sure it wants to become a publicly traded company. WeWork has helped pioneer “coworking,” or shared desk-space, with a focus on startups, entrepreneurs and freelancers, and has received significant backing from some of the world’s biggest investors, including Japan’s SoftBank. The company has faced questions about the sustainability of its business model, which is based on short-term revenue agreements and long-term loan liabilities. Investors expect 2019 to be one of the most active years on record for high-profile new listings, with the likes of Slack Technologies and Postmates also planning to go public, as the stock market hovers near all-time highs.