As the IPO trend persists among tech companies even in 2019, WeWork is also preparing to join the market of publicly traded companies.
WeWork announced already at the end of April that the company had made their IPO an official thing by filing for the public offer back in December 2018.
WeWork IPO: What You Need to Know About WeWork Company and Its Operations
WeWork exists since 2010, where it started from Manhattan as a modest office, towards becoming “Airbnb for office space”.
While WeWork grew as a company, it also added more services to their original offer, which helped WeWork develop into a major company with great odds of becoming a global empire in business office rental space sector.
Now that WeWork is about to join the IPO market, the company is said to be one of the top-anticipated IPOs in 2019.
The company is said to be one of the biggest IPOs that 2019 will get to see going public, while the estimated value of WeWork market cap is set at 47 billion dollars.
The evaluation is a consequent result initiated by the latest investment made by SoftBank as the financial institution placed 2 billion dollars on WeWork.
The investment by SoftBank, however, is far lower than expected as the bank was planning on placing 16 billion dollars, which would have increased the value of WeWork IPO.
SoftBank invested 10 billion dollars in WeWork, in total.
Share price is yet to be determined upon IPO as well as price targets.
WeWork Profits: Gains and Losses
The office space rental company reported doubling their revenue in 2019 to 1.8 billion dollars.
However, what might be the problem is mirrored in the case of persistent losses through WeWork operations.
Although WeWork doubled their gains, losses went up by more than 50% during 2018, recording 1.9 billion dollars.