CNBCのインスタグラム(cnbc) - 8月15日 05時35分
WeWork was recently valued at $47 billion, making it one of the most valuable private companies in the world.
But WeWork isn’t turning a profit. Instead, it’s hemorrhaging cash. 🔥💸
The company just released its much-anticipated IPO prospectus. Meaning, for the first time ever, we got a look at the company’s financials.
In the filing, the company reported revenues of $1.54 billion and a net loss of more than $900 million for the first six months of 2019. WeWork also reported that it had 527,000 members as of June 30, an increase of more than 90% from the year before.
Will WeWork ever be profitable? The start-up unicorn is looking to IPO as soon as September. It will trade under the ticker WE.
More details on WeWork’s financials at the link in bio.
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mason_flames
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1980s_vintage
@impaullee It’s crap and it’s destroying our country. Private companies that raise a ton of money and proceed to operate at a loss destroy small businesses that have to be profitable in order to survive. These so-called unicorns break laws aggressively with no recourse. While traditional business is profit seeking, these companies seek only to grow top line or user growth to paint a false narrative. But when you dig deeper the financials stink.
impaullee
@jefferyantwi the point is to be profitable, but profitability is intentionally delayed, in order to grow the company. It’s reinvesting of today’s profit, in order to make a larger profit in the future
n_aandrews
Is it possible to start shorting this thing now? My favorite disclosure was the $5.9m the company paid to Adam for the trademark “we” which he owned in we holdings llc
project_ethos
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unapologetically_re
WeWork does not have a good business model besides realty and tenant based relationships they failed to scale in any other areas hence the drop.
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