WeWork, now known as The We Company, released its IPO prospectus Wednesday morning months after filing confidentially to go public.
Backed by billions by SoftBank and its monstrous Vision Fund, the exit is expected as soon as next month.
The New York-based company, valued at $47 billion earlier this year, has long been rumored to be plotting a massive IPO despite massive losses. The business recently disclosed massive 2018 net losses of $1.9 billion on revenue of $1.8 billion. To convince Wall Street it’s a business worthy of their investment will be a challenge, to say the least.
WeWork plans to sell shares of its stock under the ticker symbol “We” with the share price yet to be determined. In the filing, the business disclosed revenue north of $1.5 billion in the six months ending June 30 on losses of $904.6 million.
Here’s a look at WeWork’s expanding revenues and losses:
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