WeWork’s IPO filing will be a key test of investor appetite for fast-growing, money-losing start-ups
), have fared poorly after their launch, amid investor skepticism over their lack of a concrete plan to profitability.
“This is going to be an extremely volatile stock. Investors will debate whether this is a company that has a niche that’s going to be very profitable, or if this is an overvalued real-estate company fraught with risks,” said Jay Ritter, an IPO expert and professor at the University of Florida.We Company, co-founded in 2010 by its chief executive, Adam Neumann, said in a filing with the U.S.
This has not yet translated into profits. As it continued to sign new leases at a rapid rate, We Company burned through $2.36 billion in cash in the first half of the year, more than twice the amount it spent in the same period last year. FILE PHOTO: People stand outside a WeWork co-working space in New York City, New York U.S., January 8, 2019. REUTERS/Brendan McDermid/File Photo
It was valued in January at $47 billion in a private fundraising round, according to data provider PitchBook. Its biggest backer is Japan’s SoftBank Group , which has invested or committed to invest $10.65 billion since 2017.
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