WeWork's parent company moves forward with plans to go public despite listing a $1.9 billion loss last year in IPO filing
New York Money-losing tech companies like Uber and Lyft have struggled to win over investors since going public earlier this year. But that isn't stopping WeWork from racing to Wall Street.
WeWork's parent company, The We Company, publicly filed paperwork on Wednesday to raise $1 billion in an initial public offering. The amount is a placeholder and will probably be substantially higher. The company is moving forward with its plans to go public despite losing a staggering $1.9 billion last year, according to its IPO prospectus, an unprecedented amount for a company about to go public. By comparison, Uber said it lost $1.8 billion in 2018 and Lyft lost $911 million.
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