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WeWork Files Confidential Paperwork for IPO
WeWork’s parent company, The We Company, filed confidential paperwork with the SEC in December indicating its plans to go public. The San Francisco- and New York-based company, which currently operates co-working spaces in 100 cities, is looking to continue its aggressive expansion plans.
The Unicorn was founded in 2010 and is reportedly valued at $47 billion. It has grown its membership count to more than 400,000 in 2018, an increase from 186,000 members the year prior. The company reported in March that revenue more than doubled in 2018 to $1.8 billion, though it also reported a $1.9 billion loss.
The confidential filing allows companies to shield sensitive information from competitors, customers and investors until they are closer to being ready to go public. WeWork has become one of the most valuable privately-held companies in the U.S., and counts Japanese conglomerate SoftBank as a major investor.
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