Skip to main content

Market Overview

WeWork Seeking To Go Public

Share:
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.

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.

Related Links:

2019: A Record Year For IPOs?

Starbucks Faces Yet Another Competitor In China: WeWork

Photo courtesy of WeWork.

 

Related Articles (SFTBY)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com