WeWork IPO Viewed Sceptically
The We Company, the parent company of WeWork, which has outlets in Australia, is the latest in a string of start-ups set to go public this year.
We Company was valued at US$47 billion but it’s not turning a profit and analysts say it is bleeding cash. It lost $1.9 billion last year on $1.8 billion in revenue, as it focused on rapid growth.
The company’s core business revolves around renting out co-working spaces to everyone from start-ups and freelancers to large enterprises.