WeWork is a 9 year old real estate company that provides shared workspaces for technology. It is being run by Chief Executive Officer Adam Neumann and her wife, Rebekah Neumann as a co-founder.
By 2014, the company was considered as the fastest growing lessee of new office space in America. From 2016 through 2018 its revenue quadrupled into $1.82 billion, however, in the first six months of 2019 WeWork lost $905 million on revenue of $1.54 billion.
On Wednesday, WeWork released the financial paperwork for its plan to raise over $3 billion in an initial public offering (IPO) of stock. Its most valuable startup had privately filed to go public with the Securities and Exchange Commission in December.
WeWork’s IPO will be a big challenge for its investors SoftBank Group Corp. and Vision Fund as we relate this to Uber and Lyft, high profile companies which lose billions and trading down more than 20% from their IPO prices.
Image and article source: https://www.afr.com/property/commercial/wework-is-about-to-make-uber-s-ipo-look-prudent-20190815-p52hhn
Ray White’s top 10 listings for August: (Click on the address to view listing)
Level 4, 81 York Street SYDNEY
Suite 1101, 37 York Street SYDNEY
Level 5, 283 Clarence Street SYDNEY
Level 2, 36 Hickson Road SYDNEY
Suite 504, 46 Market Street SYDNEY
235 New South Head Road, Edgecliff SYDNEY
Level 11, 97-99 Bathurst Street SYDNEY
Level 2, 309 George Street SYDNEY
483 Riley Street, Surry Hills SYDNEY
Level 6, 23 O'Connell Street SYDNEY