As many have long expected, WeWork, the preferred provider of office space for freelancers and startups alike, has filed to go public.
At its latest valuation, WeWork was worth an impressive $47 billion.
Although it’s not unheard of for companies to IPO while still making continuous, heavy losses, WeWork will undoubtedly raise eyebrows.
In 2018, it lost $1.9 billion on revenues of $1.8 billion.
WeWork is still a long way from profitability, and it’s inevitable that in the coming years, it’ll look for further cash injections to keep the business afloat.
Rumors in the Wall Street Journal suggest it’s going to take on $6 billion in debt with an asset-based loan.
WeWork plans to use the ticket WE when it eventually starts trading shares on the public market.