WeWork files for IPO amid investor skepticism over deep losses

WeWork files for IPO amid investor skepticism over deep losses

Guardian staff and Reuters 14/08/2019

Office rental company filed for initial public offering, publishing statements showing loss of almost $700m in the first half of 2019

WeWork, the office rental company, became the latest Silicon Valley “unicorn” to file for an initial public offering on Wednesday and published detailed financial statements that showed it lost almost $700m in the first half of 2019 while doubling revenue.

The preliminary filing with the US Securities and Exchange Commission takes it a step closer to a planned listing next month and comes at a time when stock markets are in turmoil due to a prolonged trade war between the United States and China.

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