IPO

The disastrous mess behind WeWork's postponed IPO, explained

The disastrous mess behind WeWork's postponed IPO, explained

The We Company is unlikely to go public within the next few months after a disastrous month that came to a standstill when SoftBank asked for the IPO to be shelved, followed by CEO and founder Adam Neumann being ousted from his position. Initially the S-1, a document that is required before a company can go public, was filed in August

Read More

WeWork revealed the extremely complicated way it's set up in its IPO

WeWork revealed the extremely complicated way it's set up in its IPO

Yesterday The We Company filed its S-1 form with the US Securities and Exchange Commission and it details the unnecessarily complicated way that the company is organised. In brief, the company is invested in co-working spaces, private schools and housing through its WeWork, WeGrow and WeLive subsidiaries. The We Company owns and leases numerous properties that it then opens up to people who purchase a membership — in total, the company has more than 790 offices located in over 35 countries, according to its own website. It’s not shy with splurging on spaces, having spent $850 million in 2017 to buy the Lord & Taylor Building on Fifth Avenue in NYC from Hudson’s Bay.

Read More

With IPOs in 2019, losses are the new normal

With IPOs in 2019, losses are the new normal

If there’s anything to learn from IPO’s in 2019—from Lyft and Uber’s already released S-1 filings to rumours that Pinterest and Postmates will go public—it’s that it is looking to be a big year for money-losing tech companies. Losses are the new normal for companies going public, reports the Wall Street Journal, with 83 percent of IPOs in the US happening within the first three quarters of 2018 losing money in the prior 12 months.

Read More