Market Overview

WeWork Seeking To Go Public

WeWork Seeking To Go Public

Co-working space provider WeWork has filed to go public, according to a message sent to employees on Monday.

The New York Times reported that the company, which is now known as The We Company, filed confidentially in December to take the company public, citing a memo obtained by the newspaper that was signed by co-founder Adam Neumann.

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Company officials originally filed with regulators to start the process toward an initial public offering before talks to sell a majority stake of the company to Japanese conglomerate SoftBank Group Corp. (OTC: SFTBY), the Times reported. Ultimately, that deal didn't come off, but SoftBank has invested a total of $10.5 billion in the company.

WeWork was valued at $47 billion in January. The company has raised $8.4 billion in debt and equity funding since its founding by Neumann and Miguel McKelvey in 2010.

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Photo courtesy of WeWork.

Posted-In: Co-Working The We Company WeWorkNews IPOs Media Best of Benzinga


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