The US office-rental company WeWork is planning an IPO with 3-4 billions dollars. The company announced today more info about its figures, which shows the company had a revenue of 1,8 billion dollars during the first 6 months of 2019 and the loss was 700 million dollars. The company published also its plans to raise up to 6 billion dollars in debt.
– We have a history of losses and if we continue to grow at an accelerated rate, we may be unable to achieve profitability at a company level, WeWork said. According to the company also the average revenue per membership has declined and the company expects the trend to continue.
The Japan SoftBank is one of the largest investors behind WeWork and the company has offices in over 100 cities worldwide.
Corrected: WeWork is expected to raise 3-4 billion dollars according to Wall Street Journal