Exclusive: WeWork will press on with its IPO launch, with an investor roadshow coming as early as next week, despite concerns over its valuation
- WeWork owner The We Company plans to proceed with an investor roadshow for its initial public offering as early as next week, braving concerns over the valuation it can achieve in a listing, people familiar with the matter said on Friday.
Growing investor skepticism over We Company’s lack of a roadmap to profitability, and its co-founder Adam Neumann’s firm grip on its governance, are weighing on its IPO prospects. The sources cautioned that no final decision on beginning the roadshow has been taken and the plans are still subject to change. We Company declined to comment.
The New York-based company lost more than $900 million in the first half of 2019, up 25% from a year earlier, even though its revenue doubled to $1.54 billion, as it burned through cash to expand. Complicating matters further, the company is looking to go public against a turbulent market backdrop, with the U.S.-China trade war making for the worst August for U.S. stocks in four years.
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