Adam Neumann “not afraid” to take WeWork public

Co-working company is valued at $16B 

TRD LOS ANGELES /
Jul.July 13, 2016 08:30 AM

From the New York website: WeWork co-founder Adam Neumann said Monday he is “not afraid” to take the company public.

“If you’re asking me, ‘Are we as a team committed to monetize for investors and employees?’ The answer is 100 percent,” he said at a conference hosted by Fortune Magazine in Colorado.

Its most recent private funding round valued the co-working and co-living company at $16 billion, but Neumann appeared uncertain about the price tag it could reach in the public market. Private valuations, he said, are “what one person is willing to sell for and one person is willing to buy. Value in the public markets — that becomes a different story.”

WeWork, which has 109 locations in 30 cities, is the poster child for the co-working boom. Its investors include real estate bigwigs Bill Rudin and Mort Zuckerman. Last week, The Real Deal dove into possible reasons why investors believe it’s worth $16 billion.

Neumann, who co-founded the company with Miguel McKelvey, is not known as someone who likes to publicly talk about money and valuations.

“For such a spiritual country, I’m surprised from the amount of talk I heard about valuation, and raising money, and bubbles, and building big companies — that is not the goal,” Neumann, the co-founder and CEO of WeWork, said in January at the launch of the Startup India initiative in New Delhi [Fortune]Konrad Putzier 


Related Articles

arrow_forward_ios
WeWork’s Adam Neumann and Onni Group President Rossano de Cotiis with a rendering of Wilshire Courtyard (Credit: Getty Images and Michael Maltzan Architecture)

Onni inks lease with WeWork after closing on massive Wilshire Courtyard purchase

Adam Neumann, Arash Gohari, and one of their new offices in Santa Monica

Headquarters by WeWork expands into LA; adds to NY locations

David Ellison’s Skydance buying Santa Monica office campus for $350M: sources

WeWork signs 40K sf lease in North Hollywood

WeWork signs another lease in Downtown LA

WeWork expands its portfolio with first Beverly Hills lease: sources

WeWork nearing deal at Hudson Pacific’s Maxwell project in Arts District: sources

DTLA could see another 212K square feet of co-working space by year’s end

arrow_forward_ios