WeWork reveals massive $900 million loss in filing to go public

WeWork, which rents out co-working spaces to start-ups, freelancers and enterprises, has to plunge cash into real estate in some of the most expensive markets and makes money back over time as companies and individuals pay their rent, or membership. The company reported long-term lease obligations of $17.9 billion in the filing.

WeWork has 528 locations, up from 485 at the end of the first quarter of 2019, and said it plans to open 169 new locations. The company said 50% of its memberships are based outside the U.S. and that enterprise customers, which made up 40% of its memberships, are its fastest growing membership type. The company also confirmed in the filing that it plans to raise up to $6 billion in debt that it expects to close along with the IPO.

Source: News Formal (newsformal.com)

*WeBroke FIFY lol

🤦‍♂️🤦‍♂️🤦‍♂️

WeWork seems like a fraud.

I meant to sign up for a space at the beginning, but lost interest in a while...

Sounds like it’s “not working”

mehdimkinsi 😂😂😂

Sounds like a fake business with zero margins.

Their revenue growth is actually impressive so are their lease commitments. But...wow...they want to issue a debt offering of $6 billion at the time of the IPO? IPOs are supposed to raise funds without debt. This is all about protecting early investors for exactly 6 months.

Maybe sponsoring the FiveThirtyEight podcasts is not working out for them..

Net Loss of $900,000,000 + and a valuation for their IPO of $47,000,000,000 OKAY

$47B !?! LOL

In that case...I should personally be valued at around $1T. I'm at least cash flow positive....most months. Any VCs ready to invest?!?

Going to be a lot of bag holders on day 1

It looks like their financials WontWork for me 😎🤓

WTF!? A net loss of almost a BILLION $. Put ‘em out of their misery. WeWork MillennialFukUps IPO

Amazing lose $150 million a month and get a 47 billion dollar valuation.🤦🏼‍♂️ CRE

Not a shock at all.

How do you generate 1.54 billion in revenue in half of a year and STILL lose nearly a billion during that same period? jimcramer

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