WeWork IPO Date 2019: When Will the We Company Go Public? Price Estimates, Profitability Rate, Funds, Date and More about the Upcoming WeWork IPO.
WeWork, or the recently rebranded the We company, is another one of startups evaluated at billions of dollars through private funding rounds and due to exceptional growth rate, which made the company consider going public even back in 2018 when the startup IPOs were booming in the market, raising billions of dollars through initial public offerings.
The CEO behind the We company claims that the reduced funding won’t affect their IPO as the company is said to have collected 2.5 billion in revenues during the course of a single year, with plenty of cash to work with. The news of an upcoming IPO now comes shortly after SoftBank Group slashed its investment in WeWork from $16 billion to $2 billion.
After the company sold $3 billion in additional shares to Softbank in November, an IPO next year seemed less likely – WeWork is well funded at the moment. WeWork has now raised a total of $10 billion from SoftBank, including the first $3 billion after a short meeting between Neumann and Masa.
Most of SoftBank’s recent investment is at a post-money valuation of $47 billion, but $1 billion of the investment was at a lower, pre-money valuation of $20 billion. The company burns a lot of cash, but it’s also growing rapidly, more than doubling memberships in 2018 to 372,000, according to preliminary year-end numbers shown to CNBC. The run rate of $2.5 billion is up from $2 billion the prior quarter.