Adam Neumann “not afraid” to take WeWork public

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
Aerial photo of the Pacific Design Center (Credit: felixmizioznikov/iStock)

Here’s what WeWork and other tenants pay at 1.4M sf Pacific Design Center

Here’s what WeWork and other tenants pay at 1.4M sf Pacific Design Center
Adam Neumann and the home (Credit: Jackal Pan/Visual China Group via Getty Images and Zillow)

Adam Neumann listing Bay Area “Guitar House” for $27.5M

Adam Neumann listing Bay Area “Guitar House” for $27.5M
Onni Group President Rossano DeCotiis, WeWork CEO Sandeep Mathrani, and Wilshire Courtyard

Onni Group defaults on $400M Wilshire Courtyard loan after WeWork lease amendment

Onni Group defaults on $400M Wilshire Courtyard loan after WeWork lease amendment
Los Angeles skyline (Credit: iStock)

LA office leasing drops in Q4 amid WeWork, tech sector pullback

LA office leasing drops in Q4 amid WeWork, tech sector pullback
CBRE CEO Robert E. Sulentic, and Keller Williams Founder Gary Williams with the Lantana property

Keller cries foul: Brokerage sues CBRE over WeWork lease deal

Keller cries foul: Brokerage sues CBRE over WeWork lease deal
1200 W. 7th Street and 5750 Wilshire Boulevard (Credit: Google Maps)

Here are LA’s biggest office leases of 2019

Here are LA’s biggest office leases of 2019
From left: Hiten Samtani, Bridgid Coulter of Blackbird, Kat Lau from Industrious and Jim Doorne of IWG

What’s next for the co-working business?

What’s next for the co-working business?
Hudson Pacific Properties CEO Victor Coleman and the Westside Pavilion (Credit: Google Maps)

Hudson Pacific wants full control of Google-leased One Westside; not sweating WeWork

Hudson Pacific wants full control of Google-leased One Westside; not sweating WeWork
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...