WeWork Files For an IPO, Trade Under “WE” ticker
Co-working startup WeWork filed for an IPO after its parent company "We company" proposes it's stock sale, despite losing money amid rapid expansion.
The We Company will trade under the "WE" ticker, as per the reports estimated the IPO valuation will be between $3 and $4 billion.
The company also reached an agreement with a consortium of large banks including JPMorgan Chase and Goldman Sachs for a $6 billion credit facility that will close with the stock offering.
"Not only do we believe our business model mitigates the pressures of an economic recession but we also believe that our model could position us well in a downturn," it said in the filing. "An economic downturn may provide us an opportunity to further scale our platform at more attractive unit economics.
The New Yor...