Give me context… WeWork is a real estate company that offers cool shared office spaces. A year ago, the company was valued at $41 billion. This is what’s going on. WeWork wanted to go public (now WeWork’s shares can be bought and sold freely on the market) … but it’s getting complicated. Very.
When companies go public, the market makes a greater scrutiny of them. Experts and investors now say that with its prices it’s impossible for WeWork to make a profit. Btw…WeWork had losses of $1.61 billion in 2018.
What does the company’s co-founder & CEO say?
Adam Neumann: We are focused on growing, that is why we’re not profitable yet.
WeWork is not going public and Adam has reached an agreement with its largest investor, Softbank (a Japanese telecommunications company). Adam will leave the company. In exchange? $1.7 billion and Softbank will keep the 80% of the company.
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