WeWork will become a publicly traded company on Thursday after a spectacular collapse during its first attempt to do so two years ago.
WeWork leases buildings and divides them into office spaces to sublet to members, which include small businesses, start-ups and freelancers who want to avoid paying for permanent office space. But over time its operating expenses became exorbitant and it relied on repeated cash infusions from private investors.
It's been over two year since WeWork’s first attempt at an IPO blew up in spectacular fashion, with CEO and founder Adam Neumann being ousted. The company had been valued around US$47 billion before investors began to buck, fed up with exorbitant spending and erratic behavior from Neumann.
what's up with the Jeeps. My town filled up with Jeeps and people are taking the doors off. It must be NOT cool.
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