Now that coworking startup WeWork has made its IPO filing public, the company faces the burden of convincing investors to look past its gaping losses to see its revolutionary workplace potential.
“Our space-as-a-service offering significantly reduces the complexity of leasing real estate to a simplified membership model, while delivering a premium experience to our members at a lower price relative to traditional alternatives and moving fixed lease costs to variable costs for our members,” the company says in its S-1. “Our membership model is transforming the way individuals and organizations consume commercial real estate.”
The company had secretly filed its prospectus with the U.S. Securities and Exchange Commission months ago. But today it made the filing public in anticipation of what is expected to be a public offering in September.
The company did not reveal how many shares it plans to sell, though it included a placeholder figure saying it
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