Wednesday, September 18, 2019

What Would You Do If Your Firm Lost $1.9 billion in a Year?

Burdened by its persistent loss-making ability, WeWork, an American real estate company that provides shared workspaces for technology startups, and services for other enterprises, could postpone its now controversial IPO until October.  Why?  To get its ducks (offices) in a row.  Here's the scoop.
WeWork is badly in need of more cash, having lost $1.9 billion on revenues of $1.8 billion in 2018. For the first half of 2019, WeWork reported an operating loss of $1.37 billion, more than double the loss for H1 2018. It reported $1.54 billion in revenues in the first half of 2019. The company is on track to exceed its operating losses in 2018.
Feeling the heat from lackluster investor interest and burdened by its persistent loss-making ability, WeWork has some issues.

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