WeWork’s IPO roadshow could kick off as soon as Monday, sources say, despite reported pushback from its largest investor.
, sources told Faber last week, as demand for the IPO was not there.
The We Co. is the formal parent company of WeWork. Founded in 2010 by CEO Adam Neumann, the company rents out work spaces to start-ups and other businesses. WeWork's planned IPO has drawn many questions from Wall Street, especially due to a controversial remittance for Neumann. In July, the We Co. paid Neumann $5.9 million in a stock transaction for the trademark to "We." After the payment drew attention from critics,last week, with the company explaining that the change was "at Adam's direction." The trademark is the property of We Holdings LLC, which is an investment vehicle of Neumann and co-founder Miguel McKelvey.
The company has over 500 locations, with plans to open nearly 170 new locations. The We Co. says that half of its memberships are based outside the U.S.
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